December 23, 2012 |
Britain's largest independent television production company, All3Media, will consolidate its Southern California studios in Westchester. The company behind such shows as “Undercover Boss” and “Ramsay's Kitchen Nightmares” has agreed to rent two floors in a Howard Hughes Center office building near the 405 Freeway and Sepulveda Boulevard, real estate broker Jacob Bobek of Cushman & Wakefield said. The lease for 51,000 square feet is valued at $16 million, he said. All3Media's five Los Angeles area studios are now in separate locations in Culver City and the Westside and the consolidation will reduce their total rented space by about 20%. More than half of All3Media's revenue comes from international operations, and the U.S. is its fastest-growing market, according to U.K. industry website Broadcast.