Volume 3 Issue 6 November/December 2008 - Sunset Gower Studios

� Creating a Strong Economy � Promoting Hollywood � Political & Legislative Action � Networking & Promoting Your Business � Assisting the Community HOLLYWOOD BUSINESS ADVOCATE
COVER EXCLUSIVE
New Stakeholders Bet
on Hollywood’s Future
Hudson Capital’s Christopher Barton (left) and
Howard Stern proudly present Sunset Gower
Studios, an independent location with a focus
to maintain and improve the production stages.
They are standing in front of the new
Technicolor building, Hollywood’s first new
office building in more than 30 years.
Entertainment Industry Luncheon to Feature AMPAS, A.C. Lyles
The highly-anticipated Academy of
Motion Picture Arts & Sciences
(AMPAS) Motion Picture Museum will be
the topic of the Hollywood Chamber’s annual
Entertainment Industry Luncheon. Bruce
Davis, the executive director of the
Academy of Motion Picture Arts & Sciences
will deliver the keynote address about
AMPAS. He is expected to update attendees
on the status of their planned Hollywood
Motion Picture Museum site at 1367 North
Vine street, and other Academy projects.
The Chamber will also be presenting the
Hollywood Star Award to A.C. Lyles of
Paramount Pictures, recognizing his 80years
of service to the industry. He becomes
the third recipient of the award, after
Hollywood’s Honorary Mayor Johnny Grant
and Fred Rheinstein of The Post Group. The
award is presented to someone in the enter-
Two years ago, no one in Hollywood had
heard of Hudson Capital. Today, they
are one of the major players in town, controlling
nearly 28-acres of prime property
along Sunset Blvd. – more than 10 percent
of all of the industrial land in Hollywood.
It all began when Arden Realty Inc. was
sold to General Electric and four senior
executives decided to depart and form their
own private real estate company. The four –
Howard Stern, Victor Coleman, Christopher
Barton and Dale Shimoda - immediately
began looking for opportunities.
Their first acquisition was the 15.6-acre
Sunset-Gower Studios in Hollywood, which
they acquired in August 2007. In January of
this year, they made a second purchase, with
the winning offer for Tribune Studios, which
included the KTLA lot and three other
parcels along Sunset Blvd. All together, they
now control 23 stages and approximately
700,000-sq.ft. of office and production space.
“Our competitors were all looking at
buying these properties, tearing down the
studios and building large mixed-use projects,”
said Chris Barton, executive vice
president. “We’re not residential or retail
people. Our intent was always to keep to our
core strengths.”
“We’re passionate about what we’re
doing and we really believe in Hollywood,”
added Howard Stern, president of the studios.
“We want to make Hollywood a great
place to do business in again. We’re not a
Bruce Davis (left) headlines Entertainment
Luncheon and movie industry legend A.C. Lyles
(right) to be Honored with Hollywood Star Award.
tainment industry who has made a real contribution
to Hollywood and the industry.
The luncheon will be held at the
Renaissance Hollywood Hotel located at
big institutional owner looking to turn it
over in one-to-two years. This is an ownership
that is personally invested.”
The company is currently looking at the
studios as a whole to understand their redevelopment
options, according to Barton.
“Our objective is to maintain and improve
the production stages, which are the core of
the studios, and redevelop obsolete or inefficient
components of the studio. We believe
that this strategy will preserve the studios as
viable business enterprises going well into
the future.” We are taking our time to properly
assess the demand mix for stage, support
and office opportunities. It is essential
that we balance the growing demand for
office space into our assessment, since production
companies now prefer to consolidate
all of their writers, pre-production, production,
post production and administration
staff all together under a single roof.” They
are getting close to finishing the assessment.
In the interim, they have been making
numerous cosmetic improvements – particularly
at the Sunset-Gower lot.
“We are performing as expected,” said
Stern. “We feel if we’re holding our own in
the current environment, then we should
flourish when things settle down.”
He noted that their template for the studios
is to make their tenants feel like they
are almost at a major studio – that they are a
big fish in a small pond.
Continued on Page FIVE
1755 Highland Ave. Registration will begin
at 11:30 a.m. with the luncheon running
from 12 noon until 1:30 p.m. Advance reservations
are $75 per person or $800 for a
table of 10. Presenting sponsors as of deadline
include The Hollywood Reporter, Iron
Mountain Film & Storage, and Paramount
Pictures. Other supporting sponsors include:
Andrews International Security, Paramount
Contractors, Ramsey-Shilling Commercial
Real Estate, and Sunset Gower & Sunset
Bronson Studios. For additional information
about the event or sponsorship opportunities,
call the Chamber at (323)469-8311 or
reserve online at Chamber website
www.Hollywoodchamber.net.
CHAMBER BUSINESS BENEFIT
representing interests of business with government
hollywoodchamber.net � 3