It has a backlot with a “Central Park” and a “New York Street” with 11 building fronts, including four brownstones. The site also has about 210,000 square feet of production office space and its own mill to provide carpentry services and special effects, a commissary and a carwash. In its present form, Radford Studio Center offers tenants 18 traditional soundstages and four other stages. CBS-produced shows there now include “SEAL Team,” “Entertainment Tonight,” “The Neighborhood” and “The Talk,” which is recorded before a live audience. There were multiple bidders for the property, he said.ĬBS, which acquired the property from Republic Pictures in the 1960s, will continue to occupy stages and produce content on the Radford lot. Its location in an upscale Los Angeles neighborhood near other illustrious movie studios beloved by filmmakers made Radford highly sought after when it hit the market nearly two years ago, said real estate broker Carl Muhlstein of JLL, who represented seller ViacomCBS in the deal. “The history of hit shows that have been produced at Radford trace the trajectory of culture and entertainment in Los Angeles,” said Zach Sokoloff, a senior vice president at Culver City-based Hackman, who plans to complete its makeover. It sold in 2021 for $1.85 billion to Hackman Capital Partners, one of the largest providers of entertainment production facilities, and New York real estate investor Square Mile Capital Management. Though it is outwardly unassuming with its main entrance tucked around a corner from Ventura Boulevard on Radford Avenue, the Radford studio is among the most valuable in the world based on price. The surge in video-on-demand streaming has provoked “an insatiable appetite” for media-oriented real estate such as studios and offices. A new one is planned for the San Fernando Valley Business Streaming has made movie studios a hot ticket.
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