Deluxe Media has leased the entire two-story, 40,315-square-foot building at 900 North Seward Street in the heart of Hollywood. The entertainment company consolidated several of its business units into the new location. The custom-built, single-tenant property will be used for post-production and editing services as well as industry screenings.
The 10-year lease includes prominent building signage and dedicated, free use of the 85-space parking lot.
Andrew Lustgarten, Corporate Managing Director, and Mark Sullivan, Executive Vice President and Regional Director, in Savills Studley’s downtown Los Angeles office, represented Deluxe in the transaction.
The building had been occupied by Todd Soundelux and features a state-of-the-art sound facility and multiple machine rooms and edit bays.
“The previous tenant, who declared bankruptcy in 2014, spent millions of dollars on site- and industry-specific improvements, providing significant residual value,” stated Sullivan.
“By acting quickly, our client was able to secure a highly desirable property in move-in condition, saving significant upfront capital and allowing for the seamless relocation of its business with zero downtime,” added Lustgarten.
Savills Studley has represented Deluxe on multiple transactions throughout the country.
900 North Seward Street is located in what is known as the Hollywood Media District. Adjacent to Santa Monica and Highland boulevards, the building is situated close to many of the major film and television studios as well as other leading entertainment industry businesses.
The landlord, Vista Investment Group, was represented in-house.