Games and IP company Hasbro has signed a long-term lease at a historic entertainment production campus tied to some of the original leaders in the Hollywood film and television industry.
The new tenant — which makes video games, toys and other licensed consumer products — will take 31,435 square feet at The Lot at Formosa in West Hollywood, Calif. A spokesperson for the landlord, CIM Group, announced the lease on Tuesday but did not disclose the terms of the deal.
In the first quarter of 2027, Hasbro will take over the third floor and part of the fourth floor in the Formosa West building, which is a 112,000-square-foot, five-story office building on the campus. The Lot at Formosa spans 11 acres of production and support space at 1041 North Formosa Avenue along Santa Monica Boulevard, including seven soundstages, 100,000 square feet of historic production office buildings, three modern office buildings and two large parking structures. With the Hasbro lease, the campus is 100 percent leased.
“We’re excited to join the creative legacy of The Lot at Formosa and invest in a dynamic new home for Hasbro’s L.A.-based teams who work across film, television, digital content, gaming, toys, licensing and our growing AI studio,” Kim Boyd, president of global licensing and entertainment at Hasbro.
The Lot at Formosa was built in 1918 for Mary Pickford and Douglas Fairbank, and the older office space has over the years been used by Howard Hughes, George Lucas and Samuel Goldwyn. And the campus has housed iconic productions for films such as “Some Like It Hot” and “West Side Story.”
In September 1980, the studio was acquired by Warner Brothers and became known as the Warner Hollywood Studio. CIM Group acquired the property in 2007, and modernized the campus’s existing structures by expanding the studio portion and constructing three new office buildings and a restaurant.
Last year, CIM Group recapitalized The Lot at Formosa through a $229.8 million sale to an affiliated LLC, replacing prior debt with a $155 million loan as Hollywood production levels remain well below pre-pandemic highs.
Other recent tenants at The Lot have included the Oprah Winfrey Network, Showtime and Live Nation. In 2021, HBO signed a long-term lease for 161,108 square feet of soundstages, support buildings and production office space.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
Leave a Reply