WEST HOLLYWOOD, Calif.--(BUSINESS WIRE)--CIM Group announced today that it has executed a long-term lease with global film and television studio Miramax for 16,000 square feet of office space at The Lot at Formosa, an entertainment production campus in West Hollywood, California. The office at The Lot at Formosa serves as the new headquarters for Miramax.
The Lot at Formosa is a historic studio campus that CIM Group has owned and operated since 2007. Originally built in 1918, The Lot at Formosa spans 11 acres of production and support space along Santa Monica Boulevard including seven sound stages, historic production office buildings, as well as three new office buildings, and two large format parking structures built by CIM Group.
The Lot at Formosa has housed some of the most iconic film productions in history, from Hollywood classics Some Like It Hot and West Side Story to newer hit TV Shows such as Big Little Lies and Little Fires Everywhere. The studio also features approximately 100,000 square feet of historic office space once occupied by legendary names in entertainment including Howard Hughes, George Lucas, and Samuel Goldwyn. The Lot at Formosa is located at 1041 N. Formosa Avenue on the corner of Santa Monica Boulevard and North Formosa Avenue at the epicenter of the entertainment industry’s “30-Mile Zone,” the geographic area that defines the entertainment industry in Southern California.
Since acquiring The Lot at Formosa in 2007, CIM Group has undertaken a multi-phased adaptive reuse and modernization of the campus’ existing structures while expanding the studio campus, constructing three new creative office buildings—Formosa South, Formosa West, and Courtyard—adding Class A, LEED Gold-certified office. The campus is easily accessed by a variety of Metro bus lines with multiple adjacent bus stops.
CIM Group was represented in-house in the transaction by Blake Eckert in association with Nicole Mihalka and Hayley Blockley of JLL. Miramax was represented by Pat Moody and Clay Hammerstein of CBRE.
For 30 years, CIM Group has applied its community-focused investing approach by utilizing its broad expertise in owning, developing, repositioning, and operating real estate assets to enhance communities throughout the Americas.
About CIM Group
CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.
