FremantleMedia, which produces game shows and talent shows like “American Idol,” has inked a long-term lease at a new studio space in Atwater Village.
The company — the U.S. division of London-based Fremantle — signed a 43,000-square-foot, 12-year lease at Captiva Partners’ Reframe Studios at 4561 Colorado Boulevard. CBRE, which brokered the deal, made the announcement.
Some of the other shows FremantleMedia produces include “The Price is Right,” “Family Feud” and “America’s Got Talent.” Its headquarters is across from Disney at 2900 W. Alameda Avenue in Burbank. It also has offices in Miami and New York City.
Captiva Partners bought the two-warehouse property in August of last year through a partnership with Avalon Investment and Westbrook Partners for $38 million, records show.
The project still has around 145,000 square feet available, according to CBRE.
Captiva Partners’ managing partner Brian Abers said the firm expects to see “continued demand” from media and entertainment firms for low-rise production space located near major studios.
Demand for production space in Los Angeles has soared in recent years, driven by the explosion of streaming services and the need for content. From 2016 to 2020, media and streaming firms leased around 6.8 million square feet of office space in the Greater Los Angeles region, according to CBRE.
Investors have taken notice.
In just the latest move, Hudson Pacific Properties and Blackstone Group are planning to build a nearly $200 million, 240,000-square-foot production studio complex in Sun Valley, along with three other large production properties.