Netflix’s intent to strengthen its foothold in Hollywood has been sealed as it signed a lease contract for EPIC, a soon-to-rise building in Hollywood.
EPIC’s property developers, Hudson Pacific Properties, have announced today that the streaming service giant is going to use the office tower on Sunset Boulevard which is presently being completed.
David Wells, the chief financial executive of the over-the-top (OTT) company, said that the Netflix group is excited to be able to develop their creative team in Hollywood and Los Angeles.
He described EPIC as a component of the streaming company’s ongoing investment in Los Angeles and its world-renowned, densely populated district recognized as the home of the American movie sector.
EPIC is an office building with 13 floors located at the heart of the vibrant Hollywood community. Major creative organizations are drawn to this area which is well-known as the world’s nucleus for the entertainment and media industries.
The Sunset Boulevard high-rise is expected to be finished by 2020. In that same year, the Netflix crew is anticipated to transfer to the building located at the iconic neighborhood at the center of Los Angeles.
The mainstream OTT service provider signed a lease that will expire in 2031. Gensler, an architecture and design company, based in San Francisco, is the designer of EPIC.
The facility will include terraces, a rooftop deck, firepits, and floor-to-ceiling windows. Moreover, EPIC will also be built with bicycle lockers, electric-car charging stations, and shower enclosures.
Prior to making a commitment with EPIC, Netflix had already leased several properties. Among them is CUE, the nearly 92,000-square, five-floor office tower.
In addition, it has already paid for its use of the whole 14-floor ICON skyscraper just across the location of EPIC.
Netflix has extended its lease in CUE and ICON for an extra five more years. Both city towers are situated on the Sunset Bronson Studios section that is also owned by EPIC’s developer.