Netflix Signs Full-Building Lease at Hollywood Office Development
- Oct 08, 2018
Hudson Pacific Properties Inc. leases up EPIC, its latest Los Angeles office development, in one fell swoop. The REIT recently inked a deal with Netflix for the streaming service giant to occupy all 327,900 square feet of office space at the state-of-the-art tower.
EPIC will rise 13 stories at 5901 Sunset Blvd., smack in the middle of Hollywood. Described by HPP as “a new model of Class A, creative high-rise office space,” the Gensler-designed building will provide a few amenities not often seen at office properties, including the capacity to accommodate such next-generation offerings as autonomous vehicle drop-off and drone deliveries. The vertically-stacked building, which has been conceived to qualify for LEED Gold certification, will also rank high on the sustainability scale with features ranging from electric car charging stations to solar-paneled windows.
With Hathaway Dinwiddie aboard as general contractor, HPP broke ground on EPIC in 2017. The REIT expects to begin welcoming Netflix in phases in 2020. The streaming company will call the building home for the long term under a lease scheduled to expire in 2031.
A campus sprouts on Sunset
It may not have been planned, but HPP is helping Netflix create its own little hub along Sunset Blvd. Netflix has a claim on nearly 92,000 square feet at the REIT’s CUE office building and approximately 325,000 square feet at its ICON office tower, where the streaming company just signed a lease expansion increasing its footprint to approximately 320,000 square feet. Both buildings sit just across from EPIC at HPP’s Sunset Bronson Studios lot—where Netflix leased 99,000 square feet of soundstages and other space in 2016.
“With its growing presence at ICON, CUE and now EPIC, we have created a customized, state-of-the-art, creative urban campus that holistically supports Netflix’s unique culture and business needs,” Victor Coleman, CEO of Hudson Pacific Properties, said in a prepared statement.
Images courtesy of Hudson Pacific Properties