TV producer Endemol rents space in West Hollywood, North Hollywood
Endemol USA, the producer of the house-fixing television show “Extreme Makeover: Home Edition,†has more than doubled the size of its own quarters in West Hollywood and North Hollywood.
Endemol develops popular reality-style shows such as “Big Brother†and “Wipeout†as well as scripted dramas including the railroad western “Hell on Wheels†on AMC.
The company has consolidated in two office buildings while expanding its overall space to 75,000 square feet, said broker Michael P. Arnold of Newmark Knight Frank. Endemol rented 25,000 square feet at 9255 W. Sunset Blvd. in West Hollywood and 50,000 square feet at 5200 Lankershim Blvd. in North Hollywood.
Terms of the leases were not disclosed, but landlord First Property Realty Corp. asks for $3.25 per square foot per month in the West Hollywood building and landlord Jamison Services Inc. seeks $2.35 a foot in North Hollywood, according to real estate data provider CoStar Group.
Newmark Knight Frank also recently represented concert promoter Live Nation Entertainment Inc. in leases for 40,000 square feet of offices in Beverly Hills and about 150,000 square feet in Hollywood.
Setting up dual quarters to save money on real estate is a trend among entertainment firms, said Arnold, who with partner Greg Frankovich specializes in representing industry tenants. At Live Nation, top executives are housed at one site and ancillary workers at another.
“What we are seeing is media and entertainment companies trying to be efficient and reduce costs,†Arnold said.
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Time Warner makes unsolicited bid for Endemol
Time Warner still hoping to strike deal for Endemol
‘Hell on Wheels’ maker Endemol makes progress on financial restructuring
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