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Prologis has picked a lane for its redevelopment of the former Greyhound bus terminal near the Arts District Downtown. It will pursue a studio and office development at the southeast corner of Alameda and Seventh streets.
The project is billed in planning documents published this month as a 364K SF "entertainment studio campus" with about 174K SF of soundstage uses, approximately 133K SF of office space to support the soundstages and 57K SF of production-related space such as a mill for props and sets, a commissary and a cafe.
Urbanize LA reported the plan is a slight shift from what was previously announced, which was explored in conjunction with the option of making the site into a logistics hub.
Prologis bought the property in 2021 for more than $90M. The purchase was long envisioned as a redevelopment play, but it did not seem likely that a major industrial landlord would want to put studio space on the site.
The entertainment business is still working to recover what it lost in the pandemic, with overall productions levels in 2024 down 5.6% from 2023, according to FilmLA, which tracks film permits in the city and county of LA.
But developers are undaunted. In the summer of 2024, East End Studios got $130M in financing to build a soundstage project across the Los Angeles River in Boyle Heights.
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