Re-imagined Vic Studios in Burbank Media Triangle comes on market for first time in 20 years with state-of-the-art production facilities
GLENDALE, CA – October 13, 2017 – Betting that prospective tenants will see it as a state-of-the-art workspace where creativity and collaboration can flourish, a renovated and re-imagined Vic Studios officially has come on market in the heart of the Burbank/Glendale Media Triangle for the first time in two decades, officials from brokerage firm Colliers International reported today.
After acquiring the 3.2-acre property in spring 2016, Los Angeles-based Hileman Cowley Partners recently completed the initial phase of improvements to the historic studio that includes a state-of-the-art production campus replete with two audience-rated sound stages and a full complement of production, post-production, broadcast and live-streaming facilities.
Located at 1840 Victory Blvd., the property was the birthplace of a long string of hit television shows over the past 20 years including The Ellen DeGeneres Show, Extra!, TMZ, The Peoples Court, Crime Watch Daily, and many others. The investment partnership acquired the property for more than $15 million last March with the goal of creating one of the most dynamic content-production campuses in the region.
“Vic Studios is both a state-of-the-art, content-driven, production facility and a contemporary workplace ideal for creative users of all kinds,” said Colliers Executive Vice President Nico Vilgiate, who heads the property’s exclusive marketing and leasing team. He will be joined on that team by Kyle Stanich. Both are based in the brokerage firm’s downtown Los Angeles office.
“The opportunity to secure a freestanding building on three-plus acres in the heart of the Burbank/Glendale media triangle with an indoor/outdoor work environment and plenty of parking, is the exact kind of space everyone is looking for. Today’s tenants, especially in creative industries like media and content production, are looking for modern spaces that are conducive to employee interaction - places that create an atmosphere that promotes the exchange of ideas. This type of space enables employers to attract and keep the best and brightest workers. Buildings like this are more commonly found in places like Playa Vista, Venice, or the Westside; it’s very rare to find a building with these features in this market given the lack of suitable inventory.”
As currently configured, the property is comprised of 56,550 total square feet on two floors, including two 4,000-square-foot sound stages, and can be enlarged to almost 70,000 square feet by expanding the mezzanine. The space surrounds a central work area with a 27-foot-high ceiling. There is also the potential to expand one of the soundstages to 10,000 square feet with 30-foot clear heights.
“This is a once-in-a-blue-moon opportunity that rarely comes around even once. Like the proverbial brass ring,” Vilgiate said, “either you grab it on the first pass, or someone else will. And, to top it off, it’s located smack dab in the center of the world capital of movie making, TV production and now web-based content creation.”
In addition to its ground-zero location, other features include: immediate access to two of the most heavily trafficked freeways in the region, the north/south Golden State (I-5) and the east/west Ventura (SR 134/101) freeways, campus-like grounds with a new outdoor space that will be developed with tenant’s input, 231 full-sized automobile parking spaces (4/1000) in a secured lot with gated entry and guard booth, and extra-wide drive aisles to accommodate production vehicles. With the utilization of valet parking, the lot can be enlarged to hold 300 automobiles (5+/1000).
Further specifications and amenities include:
- Studio A -- 4,117 square feet (79' x 52' x 19' to bottom of lighting grid).
- Studio B -- 3,845 square feet (58' x 66.5' x 19' to bottom of lighting grid).
- Control Room -- 2,448 square feet (53' x 58.5' x 12'). Data Links -- three high-speed data lines, digital & fiber; asymmetric, 1 Gbps down/1 Gbps up, from two different service providers.
- Loading Dock --Three 42-foot dock high (10’ w x 16’ h) loading ramps and covered dock area.
- TI Allowance -- Generous tenant improvement allowance available.
- Landscaping -- New outdoor space to be developed with tenant input.
- Access -- Immediate access to Golden State (I-5) and Ventura (SR-134/101) freeways. Easy in/out surface parking.
- Roofing -- Recently installed energy efficient roof with new rigid insulation and cap sheet.
- Fire/Life Safety -- Dual, pre-action dry and wet fire suppression systems.
- Power -- 2,000 amps, 277/480 3P duplicity w/225 kva UPS and switch gear for 500 kw. Backbone to support live broadcasts including redundant power.
- HVAC – Owner will install new HVAC system with energy efficient units.
“Our marketing strategy takes aim at content providers who are feeding what is an insatiable appetite for more and more video, film and live-streaming content for the Internet,” added Vilgiate. “In a soundstage market that is running close to 100% occupancy, and with content providers scrambling to secure production facilities, Vic Studios will be a highly sought-after opportunity that we are delighted to introduce to the market.”
About Colliers International Group
Colliers International Group Inc. (NASDAQ and TSX: CIGI) is an industry-leading global real estate services company with 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
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