The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
May 19, 2022
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?





LOS ANGELES COUNTY NEWS
Printer-friendly Version   Email an Associate
Hackman Capital Partners LLC and Square Mile Capital Management to Buy CBS Studio Center in $1.85 Bil Deal

12/03/21

A Hackman Capital Partners LLC and Square Mile Capital Management LLC partnership has entered into a definitive agreement to purchase CBS Studio Center in Studio City for approximately $1.85 bil. The property is being sold by ViacomCBS Inc.

The best-in-class studio lot sits on a 55-gross-acre site in the Southeastern San Fernando Valley and consists of over 1 msf of space, including 22 stages, production office and support buildings, third-party tenant offices, a purpose-built broadcast center and filmable backlot locations. The studio has been home to a number of major television shows over the years, including Gunsmoke, Mary Tyler Moore, and Seinfeld.

At closing, CBS Broadcasting Inc will enter into a long-term lease-back of the Broadcast Center, which is home to television stations CBS 2 and KCAL 9. ViacomCBS will continue to occupy stages and produce content on the lot, as well as enter into a short-term lease-back of certain portions of the property in order to manage the transition of ViacomCBS employees to other locations.

“This sale is part of an ongoing optimization of ViacomCBS’ real estate and operations portfolio and will allow the company to re-deploy capital to strategic growth priorities, including streaming,” said Naveen Chopra, EVP and Chief Financial Officer, ViacomCBS.

Carl Muhlstein and Kevin MacKenzie of JLL are acting as exclusive agents for ViacomCBS in the transaction. The transaction is expected to close in 2021, subject to customary closing conditions, including regulatory approval.





Return to the Archive page


 


 


 


 
 





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2022 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media