The principal section of Occidental Studios, an establishment situated close to downtown Los Angeles with a history tracing back to the era of silent films, is currently up for sale.
This expansive property, comprising four buildings totaling 31,489 square feet, eight office structures and bungalows spread across 2.89 acres, is up for sale at $45 million through renowned commercial real estate company CBRE. They also offer a leasing option. The property, with roots dating back to 1913, boasts 212 parking spaces as well.
As a devoted admirer, I’m proud to say that our clientele boasts an impressive roster of heavyweights such as Disney, HBO, Showtime, Sony, Paramount, Fox, NBC, and Netflix. Notably, productions like Fox’s “New Girl” and HBO’s “Sharp Objects” have graced our stages, a testament to the quality and reputation we’ve built over time.
The primary lot in question is owned by Occidental Entertainment Group, a management firm led by CEO Craig Darian. Craig Darian has extensive experience as a soundstage operator and producer, previously overseeing Glen Glenn Sound, a renowned audio postproduction company based in Hollywood. Beyond this lot, Occidental controls numerous facilities spread throughout the city. Their services extend beyond mere property rental, encompassing lighting and grip equipment, technical support, props, and more.
The biggest structure within the compound, spanning approximately 14,000 square feet and equipped with spaces for hair and makeup stations, offices, and other amenities, was constructed in 2011. At that time, Darian expressed the choice to invest was made amidst widespread worries about escalating production costs.
The focus has returned to those issues as film and television productions in Los Angeles have significantly decreased over the past few years, leading industry supporters to take action to maintain local production (such as the “Stay in L.A.” coalition). According to FilmLA’s latest report in April, filming for television shows in L.A. during the first quarter of this year dropped by 30% compared to the same period in 2024 and is almost half of the average from the past five years.
Occupancy rates for soundstages in Los Angeles decreased significantly between 2022 and 2023. This drop occurred during periods of both an actors’ strike that lasted 118 days and a writers’ strike that spanned 148 days, and continued to fall last year due to studios reducing their spending on content production, as reported by FilmLA.
Due to a decrease in feature film and TV productions in the area, soundstage operators have expressed worries and come up with innovative solutions. It appears that the weighty factors affecting Los Angeles are finally prompting local authorities to address what needs to be done for the city’s revitalization, as stated by Victor Coleman, CEO of Hudson Pacific (owner of Sunset Studios), during a May 8 earnings call.
Simultaneously, Hackman Capital Partners, proprietor of Television City situated in the Fairfax District, has finalized an agreement to grant independent creators and creative entities usage of their premises. This move comes as Los Angeles grapples with reduced production activity from established studio partners.
Nicole Mihalka, svp at CBRE, represents the listing for Occidental Studios’ Main Lot.
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2025-06-24 18:54