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L.A.’s Studio Lot Values Are Cratering
Six years ago, Los Angeles soundstages emerged as some of the most coveted properties in real estate. Studios were pouring money into original movies and TV shows, and seemingly every square foot of production space appeared to be spoken for, as it had been for a long time. Big institutional investors saw an opportunity in 2020, when cheap capital, a streaming-fueled content bonanza and a shortage of soundstage capacity converged (plus, office space was seen as riskier — it was the COVID era, after all).