Among the television shows produced at the studio, which is at 1600 Rosecrans Ave., are "Medium," "Boston Legal" and America's Funniest Home Videos." Safai notes that Manhattan Beach Studios is one of the busiest in Southern California with occupancy that historically runs more than 90%.
The studio business is comparable to the hotel industry in that tenants tend to turn over frequently as new shows need production space and existing shows cease production, Safai points out, but some of the tenants can be long-term if shows have long runs. "Boston Legal" has been at Manhattan Beach for quite some time, and "The OC" was there for five years, he notes.
The Manhattan Beach Studios house film and television production facilities comprising nine 18,000-sf and five 25,000-sf sound stages; eight three-story production office buildings; a two-story production office building; a four-story professional office building and a storage building. In all, the buildings total 570,399 sf.
Although sales of movie studios are relatively rare, Madison Partners has brokered the sales of three of them within the past year, counting the Manhattan Beach deal. The company also brokered the sale of the CBS Studios six months ago and the Santa Monica Studios three months ago.
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