Netflix Adds To Hollywood Heft With Epic Building Deal
Netflix has leased an entire 13-story Hollywood office building soon to be completed that will give the streaming giant 327,913 square feet of additional office space in Los Angeles, suitable for a company that is spending $8 billion just this year to create 700 original shows and 80 movies for its service.
It will begin moving into the building — Hudson Pacific’s EPIC, located at 5901 Sunset Blvd — beginning in 2020. The lease runs into 2031.
The company has also just extended lease deals with Hudson for their current ICON and CUE facilities across the street on the Sunset Bronson Studios lot, which affords them and additional 325,757 square feet and 91,953 square feet of office space, respectively, between them. If you’re doing the math, the full Hudson deal today encompasses 745,623 square feet in that part of town.
“EPIC is part of our continuing investment in L.A. and Hollywood. We’re thrilled to be able to continue to grow our team there,” Netflix CFO David Wells said in a press release announcing the transaction.
The EPIC high rise, designed by Gensler, is a vertically stacked and terraced building with views of the Hollywood Hills, the Pacific Ocean and downtown. It has floor-to-ceiling windows and glass doors with access to exterior terraces, fire pits, collaboration areas and a rooftop deck with catering pantry, according to Hudson. Other amenities when it is completed in Q1 2020: electric car charging stations, bike storage, showers and lockers, solar-paneled windows and dedicated VIP rideshare, and autonomous vehicle drop-off and drone deliveries.
“We are thrilled that Netflix has selected our ground-breaking EPIC project to accommodate its next phase of growth,” Hudson Pacific Properties chairman and CEO Victor Coleman said. “Netflix is part of an elite class of high-growth, high-innovation companies leading the revolution in content production and distribution that is reshaping the Los Angeles studio and office markets. With its growing presence at ICON, CUE and now EPIC, we have created a customized, state-of-the-art, creative urban campus that holistically supports Netflix’s unique culture and business needs.”
Netflix grew out of its original SoCal outpost in Beverly Hills and in February 2017 finished a move to the ICON building, which is 323,103 square feet and 14 stories. CUE is five stories.
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