HBO and HBO Max have decided Formosa will be their new home if current developments are anything to go by. This week we see them enter a long-term lease with the CIM Group, granting them exclusive use of a wide range of production real estate. Brandon Blake, a local entertainment attorney, has some more facts for us.
Brandon Blake
Historic lot
The Lot at Formosa is a production hub in West Hollywood, with 7 soundstages alongside production offices and numerous support buildings, many dating from its 1918 inception. With a variety of soundstage sizes and an interesting mix of historic and newer buildings, it’s a sizable lot for them to occupy exclusively, as well as one which carries the weight of its associated Santa Monica history.
We have been told that the lease agreement, while freshly signed, is simply formalizing a production relationship that’s already well established. In fact, both Big Little Lies and True Blood, as well as the more recent Euphoria, were all filmed there.
Historic productions from the lot include some work on Some Like it Hot, Puttin’ on the Ritz, Guys, and Dolls, Basic Instinct, The Green Mile, and L.A. Confidential. More recently, it hosted the filming for Goldmember and The Social Network.
Result of the production boom
It’s reasonable to assume the new lease is part of the boom in production we’ve seen over the last year. Ironically, while the pandemic may have shut down production early in 2020, it’s seen a significant rebound in the number of shows in progress. Free filming space has been difficult to come by in Hollywood in recent months, so it could be sensible for HBO to solidify its preferential hold on dedicated space.
CIM Group, the current owners, have held the property since 2007 and it’s seen a fair amount of modernization and expansion, which could also be what caught WarnerMedia’s attention. There’s certainly no secret that HBO and HBO Max are now attempting to catch up lost ground with larger streamers, and looking for a permanent Hollywood-based studio home is quite in line with that.
It will be interesting to see what comes off of the lot now the arrangement is finalized. Blake & Wang P.A, as always, will be there to keep you informed.
