There's a renaissance underway in Hollywood, with a slew of new residential and retail development going up around Emerson College, for example. That's why Hudson Pacific Properties is getting ready to launch Icon, a 14-story, 315k SF creative office building at its 11-acre Sunset Bronson Studios. EVP Chris Barton told us yesterday that the "vertical campus" will expand the studio's office space component to attract major entertainment and media firms that are interested in coming back to or expanding in Hollywood, but are being held back due to a lack of large, contiguous floorplates.
Groundbreaking is slated for later this year. Icon will boast landscaped terraces on each side, allowing firms to have an indoor/outdoor experience. It's the centerpiece of a $150M expansion designed by Gensler, which also will include a five-story, 90k SF production building and 1,635-space parking structure. The studio currently is home to about 300k SF of production facilities, support facilities, and office space. While the occupancy rate is high, the space is now used mostly by short-term production office users. Icon will bring more long-term tenants into Hollywood, Chris says. (We guess it's time to start learning people's names, since they won't be leaving soon.)
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