Hudson Pacific Properties (HPP), Netflix (NFLX) Enter Agreement for Sunset Bronson Studios Offices

October 17, 2016 9:03 AM EDT

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Hudson Pacific Properties, Inc. (NYSE: HPP) announced a 10-year, multi-stage agreement in which Netflix will lease stages and production offices at Sunset Bronson Studios.

The agreement enables Netflix to keep its stage and production teams close to its new Southern California headquarters, which will also be located at Sunset Bronson Studios. As previously announced, Netflix leased Hudson Pacific’s entire 323,000-square-foot ICON office tower, which is currently under construction. Netflix is expected to occupy ICON in early 2017.

Victor Coleman, Chairman and CEO of Hudson Pacific Properties, said, “Netflix is one of the entertainment industry’s most innovative content producers, and we’re pleased to deepen our relationship. This deal also fulfills Hudson Pacific’s vision of bringing a major content producer to Hollywood, and highlights the changing nature of the studio business. Hudson Pacific is uniquely positioned to provide today’s leading entertainment and technology companies with cutting-edge creative office and digital production facilities.”

Netflix is already shooting the television show Girl Boss at Sunset Bronson Studios.

ICON, which is nearing completion, is part of Hudson Pacific’s larger undertaking to transform Sunset Bronson Studios into a world-class creative and production complex. Among other upgrades, Hudson Pacific is building a five-story, 96,000-square-foot creative office building, called CUE, scheduled for completion in summer 2017. The lot is home to a host of networks, including ABC, CBS, HBO and KTLA.

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