California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Hackman Capital Buys Iconic CBS Television City Property for $750M
Los Angeles-based Hackman Capital Partners is acquiring the 25-acre CBS Television City property and sound stage operation in Los Angeles from CBS Corporation for $750 million. The transaction is expected to close by early 2019.
Among the reasons CBS elected to sell to the L.A.-based developer is “Hackman Capital has demonstrated terrific stewardship of classic properties, including their development of the landmark Culver Studios,” says CBS Corp.’s Joseph Ianniello.
CBS acquired the property at Fairfax Avenue and Beverly Boulevard in 1950, though has shifted its primary studio operations to the 40-acre CBS Studios Center in Studio City.
Hackman Capital Partners’ Michael Hackman says, “The acquisition of the legendary Television City will add another crown jewel to our portfolio.”
In Culver City, Hackman also broke ground this week on phase two of The Culver Studios modernization and expansion of media production space from 358,000 square feet to 720,850. Amazon Studios is taking two additional buildings at the campus, bringing its commitment to 530,000 square feet.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Development
- ◦Sale/Acquisition


