3030 Andrita Street and Goodwin Gaw (Credit: LoopNet, GawCapital)
Gaw Capital USA, a subsidiary of Chinese investment firm Gaw Capital Partners, paid $31 million to acquire 3030 Studios in Atwater Village, The Real Deal has learned.
The 108,000-square-foot studio campus at 3030 Andrita Street sits on four acres of land, with three sound stages and creative office space.
World Class Capital Group, an Austin-based investor, paid $25 million for the property in 2013, property records show. It initially listed the property for lease in mid-July.
JLL’s Nicole Mihalka, Carl Muhlstein and Hayley Blockley had the listing.
Playboy Studios held a 15-year lease on the facility, which sources valued at roughly $48.6 million last summer. But the company had been renting out the campus on a stage-by-stage basis for the last few years of its contract. PBS’ “All My Children” and several Netflix programs are among the shows that were filmed there. Playboy’s lease ran out in September.
Gaw Capital confirmed the sale, but declined to comment. World Class Capital Group did not respond to immediate requests, nor did JLL.
Gaw Capital, led by Hong Kong real estate tycoon Goodwin Gaw, manages over $13 billion in assets worldwide, including the MacArthur building in Downtown L.A., according to its website. Gaw’s affiliate company — Downtown Properties — also owns the Hollywood Roosevelt Hotel and the Bradbury Building in DTLA.
Securing stage space in Hollywood has been challenging for production companies in recent years, as supply struggles to keep up with demand stemming from new media. Hudson Pacific Properties — the largest independent owner of stages in Hollywood — is planning a 628,000-square-foot expansion at its Sunset Gower Studios. Many companies, however, are looking at more affordable destinations like Atwater Village, or Culver City, where Hackman Capital Partners is planning a 413,000-square-foot expansion.
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