Hackman Capital Partners Breaks Ground on The Culver Studios Innovation Plan
(December 10, 2018)—The Culver Studios today broke ground on its Innovation Plan, the state-of-the-art transformation that will modernize the century-old studio—more than doubling its size—for next-generation productions.
When the Innovation Plan is completed, The Culver Studios campus will total 720,850 square feet—including the Mansion and adjacent bungalows, five new buildings, totaling 575,000 square feet, and two parking structures with 1930 spaces. All in all, the campus will offer 619,850 square feet of creative office and state-of-the-art production support space, 96,263 square feet of stages, and 4,736 square feet of stage support space.
Hackman Capital Partners also announced today that Amazon Studios has signed a lease for two additional buildings at the campus, expanding its total occupancy to 530,000 square feet, including its existing space in the mansion and bungalows and four of the new buildings once complete. Amazon Studios announced last year that the company would move its headquarters to the studios, along with affiliates IMDb, Amazon Video and World Wide Advertising, bringing space for new jobs in a wide variety of roles including creative, technical, marketing and legal. Approximately 100 Amazon Studios employees currently work in the mansion and bungalows.
“We’re thrilled with Amazon Studio’s commitment to The Culver Studios as its anchor tenant—it’s the ultimate validation of all the hard work our company and the City have put into the campus’ redesign,” said Michael Hackman, CEO of The Culver Studios and founder and CEO of Hackman Capital Partners, which owns the studios through an affiliated entity. “The Innovation Plan will usher in a new century for the entertainment industry with world-class space, technology and studio support systems, all while preserving our legacy.”
Hackman gave special recognition to architects Genlser and Culver City Mayor Thomas Small for the celebrated redesign and to city and community stakeholders for their continued support of the project.
Culver City officials and other local dignitaries were on hand today to help Hackman and Amazon Studios break ground on The Innovation Plan. “We are thrilled that Amazon Studios is calling The Culver Studios home,” said Culver City Mayor Thomas Small. “Amazon Studios’ commitment to our city and its inextricable link to movie making makes it easy for us to welcome them with open arms. We are looking forward to the company’s being here in full force.”
The ground breaking kicks off phase 2 of The Innovation Plan. Phase 1, completed earlier this year, included restoration of the historic Mansion and four landmark bungalows. In addition, the bungalows were relocated from a remote corner of the lot to their new, more prominent location just behind the mansion.
Construction is anticipated to take a total of 30 months, with final completion anticipated in early 2021.
ABOUT HACKMAN CAPITAL PARTNERS
Hackman Capital Partners is a privately-held, real-estate investment and operating company that focuses on commercial and industrial properties in major U.S. markets. Founded in 1986, Hackman Capital has conducted more than $2.6 billion in real estate transactions across 41 states—having owned, through affiliated entities, over 400 buildings totaling 35-plus million square feet. More than 6.2 million square feet of those properties have been located in California.
In addition to The Culver Studios, the company’s most notable Culver City projects include The Culver Steps, a 1.16-acre, mixed-use development, directly adjacent to The Culver Studios, where Amazon Studios has also leased space, a 75,000-square-foot creative office conversion at 5500 West Jefferson Boulevard in Los Angeles, a 550,000-square-foot creative campus conversion in El Segundo, the Beats/Apple Southern California headquarters, and Westwood One Studios.
Hackman Capital Partners is headquartered in Los Angeles, California and has additional offices in Chicago, Illinois and Columbus, Ohio. With its related entities, it employs a staff of more than 60 professionals.