Brentwood-based Hudson Pacific Properties Inc. has signed a 60,000-square-foot lease expansion with post production firm Company 3 at one of its Hollywood properties.
Under the terms of the deal, Company 3 leases the entirety of Hudson Pacific’s 130,000-square-foot Harlow office building, which is at Sunset Las Palmas Studios.
“At Company 3 we are committed to investing globally in our studio locations,” Stefan Sonnenfeld, founder and chief executive of Company 3, said in a statement. “We want to inspire a unique sense of community, collaboration and creativity for our clients and staff. Our new location at the Harlow building helps us achieve these goals with outdoor spaces, eco-inspired architecture, boundary-pushing technology, and a location in the heart of Hollywood for our end-to-end services.”
It isn’t Company 3’s only lease at a Hudson Pacific building. The company also leases all of Hudson Pacific’s 3401 Exposition property in Santa Monica.
The Harlow is newly built and has 16,000 square feet of outdoor workspace. It was designed by RIOS.
“Demand for on-lot Class A office continues to grow as content production companies work to meet growing secular demand, evidenced by Company 3’s expansion into the entire Harlow office building,” Victor Coleman, chairman and chief executive of Hudson Pacific, said in a statement. “This lease underscores the success of our strategy of building high-quality office properties on or adjacent to our Sunset Studios’ lots and the potential for synergistic office and studio uses in Hollywood and beyond.”
Hudson Pacific has been betting big on studio assets and in 2020 brought Blackstone in as a partner. The commercial real estate titan’s purchase of a 49% stake in Hudson Pacific’s Hollywood Media Portfolio, comprised of Sunset Gower, Sunset Bronson and Sunset Las Palmas, valued the portfolio at $1.7 billion.
The companies have since announced plans to nearly double the size of the Sunset Gower property and create the Sunset Glenoaks Studios, a new studio in Sun Valley.
In April, Hudson Pacific announced that it launched an impact investing platform dubbed EquiBlue, which aims to provide more opportunities for women and people of color. To do so, EquiBlue will manage funds for institutional investors that will be used to transform obsolete properties into office and mixed-use spaces to help disadvantaged communities.