New leases give Apple a large footprint in Los Angeles for content push
Apple has reportedly leased more than 200,000 square feet of prime real estate in Culver City, California to support its expanding efforts in original video content.
Apple has snapped up another 185,000 square feet of real estate in the center of Los Angeles's film scene, according to The Real Deal. The iPhone maker will take possession of a new four-story project at 8777 Washington Boulevard that was initially slated to become HBO's new headquarters.
The building includes 4,500 square feet of retail space on the ground floor, though it's not yet known whether Apple will occupy that space itself or look to lease it to a third party.
Apple's new office is minutes away from an 85,000-square-foot production facility the company has been linked to since last year, with reports saying that Apple has finalized the lease on that location as well.
Before beginning its video march, Apple acquired a significant presence in Culver City when it purchased Beats. The headphone maker opened a new campus just minutes away from Apple's new Washington Boulevard location in 2014.
Apple has snapped up another 185,000 square feet of real estate in the center of Los Angeles's film scene, according to The Real Deal. The iPhone maker will take possession of a new four-story project at 8777 Washington Boulevard that was initially slated to become HBO's new headquarters.
The building includes 4,500 square feet of retail space on the ground floor, though it's not yet known whether Apple will occupy that space itself or look to lease it to a third party.
Apple's new office is minutes away from an 85,000-square-foot production facility the company has been linked to since last year, with reports saying that Apple has finalized the lease on that location as well.
Before beginning its video march, Apple acquired a significant presence in Culver City when it purchased Beats. The headphone maker opened a new campus just minutes away from Apple's new Washington Boulevard location in 2014.
Comments
I support Apple's efforts b/c I dislike big cable companies, telecom companies and media companies!
I don't mind paying more for content, but I want good value. Network television and most cable tv is the worst! The exception is Fareed's Zakaira's GPS on CNN. The best show on television. Mainly, b/c he doesn't rely solely on American pundits.
Best
Here's a thought, Apple should offer Fareed a mega salary to have him do his show for Apple. Woo, Bill Maher away from HBO, John Oliver, Vice, etc., etc. I have to believe Samantha Bee is grossly underpaid!
In any case, I think Apple is pretty smart with their money (except perhaps when it comes to excessive costly design on their own buildings) and I'm sure they evaluated all the options. I think it's a bit silly to second guess them on things like this.
I do think it's interesting that the building was supposed to be for HBO. I wonder whether HBO walked or whether Apple offered more money and screwed HBO out of the building or ?
I will never own a commercial property for my business again.
If you own property you can’t just break the lease for a penalty and walk away when revenue craters. If the bank won’t work with you it turns out poorly.
in this case , they need specialized space so buying options might be limited.