Digitalization has caused meaningful growth and fragmentation within the entertainment and media industry as new entrants, such as Netflix and Apple, disrupt the industry’s traditional business model and drive pronounced demand growth for content-related real estate. Bain Capital Real Estate believes this secular demand shift has produced a compelling opportunity to create an integrated content media platform, partnering with tenants to deliver differentiated space and a superior user experience. Since identifying this secular theme in 2019, the team has pursued opportunities to acquire, renovate, develop and operate creative office and other production space, such as sound stages, in the key content markets around the world. Bain Capital Real Estate, in collaboration with David Simon, its experienced operating partner, established Echelon as one of the real estate industry’s first dedicated content media brands.
Echelon Studios is an urban studio campus development project, located on a five-acre site at 5601 Santa Monica Boulevard in Hollywood, California. The site was acquired in 2021 on an off-market basis. Echelon Studios will comprise four 19,000-square-foot sound stages, a 15,000-square-foot flex stage, and a 90,000-square-foot creative village of high-end bungalows located above the bustle of Hollywood. Echelon Studios is the first purpose-built urban studio campus in Hollywood in more than 50 years. The project will also include 350,000 square feet of creative office and production-related space located in two mid-rise office buildings. Amenities will include select food and beverage, a central courtyard, shared specialized production space and collaboration areas. Outdoor decks, patios and other exterior common areas will serve to maximize available space and create sought-after filming and event locations. We believe the urban studio campus is well positioned to meet the needs of discerning media tenants, foster creativity and enhance collaboration – elements core to the content creation process. With its prime location and purpose-built nature, we believe the property will benefit greatly from the surging demand for content production space.