Sony Pictures Extends 328,847-SF Lease

CULVER CITY, CA-GlobeSt.com has learned that Sony Pictures Entertainment has signed a new lease extension that will keep the studio in the Sony Pictures Plaza building through 2016.  Financial terms of the transaction could not be disclosed by Sony at this time, however the agreement, signed with building owner TCE-Filmland Holdings LLC, extends a current lease which had provided an option to exit at the end of 2012. 

“We are very pleased to renew our lease at Sony Pictures Plaza through 2016,” says David Mannix, senior vice president of Worldwide Facilities Administration at Sony Pictures. “This will give us time as we consider the longer view of what our studio’s needs will be towards the latter half of this decade.” Mannix continues that the entertainment industry is undergoing significant changes in light of the challenges and opportunities of the digital age and the global marketplace, and that is affecting the structure and operation of all the Hollywood studios.