LOS ANGELES, October 26, 2021--(BUSINESS WIRE)--CIM Group announced today that it has signed a long-term lease with HBO and HBO Max for the exclusive use of 161,108 square feet of sound stages, support buildings, and production office space at The Lot @ Formosa, an entertainment production campus in West Hollywood, California.
"HBO/HBO Max has had a decades-long history of production at The Lot @ Formosa. The long-term lease for the facilities is a mutually beneficial arrangement for CIM Group and HBO/HBO Max, and an extension of the strong working relationship that we have developed over many years," said Shaul Kuba, Co-Founder and Principal, CIM Group.
The Lot @ Formosa is a historic studio campus that CIM Group has owned and operated since 2007. Originally built in 1918, The Lot @ Formosa spans 11 acres of production and support space along Santa Monica Boulevard including seven sound stages, historic production office buildings, three new recently completed office buildings, and two large format parking structures built by CIM.
"HBO has a long history of filming at The Lot @ Formosa, from True Blood and Big Little Lies, to Euphoria, most recently. This is a wonderful opportunity for HBO and HBO Max to have a full-fledged, Hollywood studio home, and we look forward to many new productions to come," said Janet Graham Borba, EVP, Production, HBO and HBO Max.
The Lot @ Formosa has housed some of the most iconic film productions in history, from Hollywood classics Some Like It Hot and West Side Story to newer hit TV Shows such as Big Little Lies and Little Fires Everywhere. The studio also features approximately 100,000 square feet of historic office space once occupied by legendary names in entertainment including Howard Hughes, George Lucas, and Samuel Goldwyn. The Lot @ Formosa is located at 1041 N. Formosa Avenue on the corner of Santa Monica Boulevard and North Formosa Avenue at the epicenter of the entertainment industry’s "30-Mile Zone," the geographic area that defines the entertainment industry in Southern California.
Since acquiring The Lot @ Formosa in 2007, CIM Group has undertaken a multi-phased adaptive reuse and modernization of the campus’ existing structures while expanding the studio campus, constructing three new creative office buildings—Formosa South, Formosa West, and Courtyard—adding Class A, LEED Gold-certified office. The campus is easily accessed by a variety of Metro bus lines with multiple adjacent bus stops.
CIM Group’s in-house leasing team handled the transaction. HBO and HBO Max were represented by Matt Hargrove and Sean Dodd from CBRE.
For more than 25 years, CIM Group has utilized its broad expertise to own, develop, reposition, and operate real estate assets, transforming communities and creating dynamic environments throughout the Americas.
About CIM Group
CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.
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