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ViacomCBS nears sale of CBS Studios lot in LA as it pares real estate holdings

By
Alexandra Steigrad
Published Oct. 26, 2021, 7:30 p.m. ET

ViacomCBS is nearing a sale of its historic CBS Studio Center lot in Los Angeles — the home of popular TV shows including “Seinfeld,” The Post has learned.

Final bids are in for the massive collection of soundstages, which has been home over the years to series like “Gunsmoke,” “Gilligan’s Island” and “Big Brother” — and a source with knowledge said Hackman Capital Partners is a leading contender.

CBS declined to comment. Hackman Capital did not return requests for comment.

Michael Hackman’s namesake firm has a history of scooping up big studio lots. Earlier this year, Hackman scooped up Sony Pictures Entertainment’s 182,000 square-foot animation campus in Culver City — home of franchises including the “The Emoji Movie” and “Spider-Man: Into the Spider-Verse,” for around $160 million.

Michael Hackman
Michael Hackman’s Hackman Capital Partners is a leading contender to acquire CBS’ Radford Lot. Hackman Capital Partners

The company, which already owns eight studio lots, home to 70 soundstages with another 35 in development, is one of the most active investors in the space, along with Blackstone Group.

CBS put its 38-acre campus — dubbed the “Radford Lot” for its location on Radford Avenue in LA’s Studio City district — on the block in late August, as the network sells off non-core assets in order to invest more heavily in creating shows and movies for burgeoning streaming platforms.

: General views of CBS Studio Center on September 25, 2020 in Studio City, California.
Production studios are in high demand as streaming services are pumping out more TV shows and movies. Getty Images

The sale will likely be quick as the pandemic is driving demand for shows and movies to the point that there’s a shortage of production studio space in Los Angeles.

News of the Radford Lot sale comes shortly after ViacomCBS sold CBS’ original Midtown Manhattan corporate headquarters, known as “Black Rock,” to real estate investment firm Harbor Group International for $760 million in mid August.