LOS ANGELES-Todd-Soundelux LLC, a post-sound production company, has completed a 12-year lease renewal transaction with Vista Investment Group for a 40,315-square-foot office space in Hollywood. Both the owner and the buyer have agreed to provide significant technology upgrades to the space, Todd-AO Studios, a high-end, post-production sound facility.

"We are very happy to have reached an agreement with Todd-Soundelux to renew and extend the lease at the property,” says Jonathan Barach, president of Vista Investment Group. “The deal provides Vista with an opportunity to increase investment value early on, while allowing the tenant to confidently make the necessary capital investment in its studios to retain its dominant position in the industry.”

Avision Young principal John Tronson and VP of the companies Los Angeles North office Steven Tronson represented Vista Investment Group in the transaction, while Cushman & Wakefield's Arlene Sommer and Mark Robinson represented the tenant.

Located at 900 Seward Street, the studio features two ADR stages and five mixing stages along with production offices, editorial rooms and client lounges. Building and technology upgrades planned by both the landlord and tenant illustrate commitment to the submarket where the entertainment industry is key.

In an earlier story, GlobeSt.com reported that Avon Studio Transportation purchased a 1.29-acre lot also on Seward Avenue to serve the transportation needs of the surrounding entertainment industry. Although the purchase price was undisclosed, the broker, Avision Young principal Martin McDermott explained that this was the lowest-priced land deal in some time for the level of density.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

Leasing
National
Office