A joint venture between Bain Capital Real Estate and the BARDAS Investment Group is planning a huge new $ 450 million entertainment studio in Hollywood. The Echelon Studios are located on a 5 hectare site and will include four 19,000 square meter sound stages, a 15,000 square meter flex stage, a 90,000 square meter creative village and a 350,000 square meter creative office in two buildings. The joint venture has submitted plans for the project to the City of Los Angeles.

The project signals the demand for high-quality studio and production space. In a statement, David Simon, Founder and Managing Director of BARDAS Investment Group said this project is well positioned to meet demand from the market for content creation.

Located at 5601 Santa Monica Boulevard, Echelon Studios offers world-class amenities including restaurants, a central courtyard, collaboration and production spaces, outdoor communal areas, and movie rooms.

The joint venture was founded in 2019 and is aimed at studio, production and creative office opportunities that will serve the media and content creation industries in the Los Angeles market. It is currently under construction in another production studio at 712 Seward. According to the joint venture, the 550,000 square meter urban studio is the first “purpose-built urban studio campus property in Hollywood in more than 20 years”. The partnership has a total pipeline of 1 million square feet.

New York City sees one too Increase in demand for entertainment studiosAnd like in Los Angeles, content creation is behind the trend. Research by CBRE shows that there is strong demand in New York for high-quality production space, which includes small broadcast studios in office buildings, raw space in warehouses, and professional production facilities with isolated sound phases.

There have been a number of high profile studio leases this year. Top deals include Wildflower Studios and Netflix building studio complexes in Queens and Brooklyn, and Lionsgate has rented a new studio complex in Downtown Yonkers that is currently under construction. All three companies are newcomers to the market. Existing tenants are also expanding. Apple TV + has signed up to occupy 75,000 square feet of manufacturing space at Kaufman Astoria Studios and 15,000 square feet of office space on the property.