Lionsgate to Open $125M New Jersey Film Studio
Lionsgate is increasing its production footprint in the Tri-State area. The Hollywood studio is set to become the anchor tenant in a $125 million studio complex in Newark, New Jersey.
The studio deal follows Lionsgate anchoring a $100 million studio complex in Yonkers, 20 minutes from Manhattan, built by Great Point Capital Management, a media-focused investment fund run by Halmi, president and CEO of Hallmark Entertainment, and Fehmi Zeko.
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“This is a great opportunity to scale our east coast studio footprint with our partners at Great Point Studios and the New Jersey Performing Arts Center to support our robust film and television production,” Lionsgate CEO Jon Feltheimer said in a statement.
Robert Halmi’s Great Point Studios will build, own and operate the 12 acre film and TV studio complex in New Jersey, while Lionsgate takes a minority stake and has naming rights on the facility.
The purpose-built Newark studio, expected to open in early 2024, will be located in the city’s south ward at the site of the former Seth Boyden Housing site, near to Newark Liberty International Airport and other local transport infrastructure.
The 300,000 square foot complex will include production stages ranging from 20,000 to 30,000 square feet in size, offices and support space.
Lionsgate expanding its New York City production hub comes as the studio has around 100 scripted, unscripted and 3 Arts TV series airing and produced 21 feature movies last year amid the pandemic.
