Netflix is in advanced negotiations to purchase the iconic Radford Studio Center in Studio City, Los Angeles. The deal—valued at approximately $330 million—has sparked intense speculation across Hollywood.
The central question: Is Netflix looking for a new Los Angeles headquarters, or simply more owned soundstage space to secure its long-term production needs?
Why This Deal Matters for Netflix’s Future
Netflix currently leases its LA headquarters at Sunset Bronson Studios from Hudson Pacific. The company occupies three buildings (ICON, EPIC, CUE) – over 700,000 square feet – paying $27.3 million annually in rent through September 2031.
It also leases Raleigh Studios Hollywood from Hackman Capital, with that lease also expiring in 2031.
If Netflix buys Radford, many in the industry believe the streaming giant could move its base of operations and vacate both existing leases.
What Hudson Pacific’s CEO Said
“With the conversation around Netflix… I can’t talk about what’s going on, but suffice to say that our relationship is intact and it’s positive.”
— Victor Coleman, CEO of Hudson Pacific (Earnings call, May 7, 2026)
Coleman further noted that Radford is a 21-soundstage facility focused on production and creative campus use, with very little office space – and the existing office is leased to CBS long-term.
🔍 Key takeaway: This suggests Netflix may keep its office lease with Hudson Pacific while using Radford purely as a production hub.
The Financial Background – A Bargain for Netflix?
Radford Studio Center has a rich history. Classics like Seinfeld and Gilligan’s Island were filmed on its iconic backlot, which includes “Residential Street,” “Central Park,” and “New York Street” environments.
- 2021: Shari Redstone’s ViacomCBS sold Radford for $1.85 billion (peak market) to Hackman Capital + Square Mile Capital.
- Post-2022: Content spending peaked, then declined. Soundstages emptied.
- Current status: A tenant told The Hollywood Reporter: “This lot is completely dead, whole buildings are completely empty… more than 50% of the lot is unused.”
- Result: Hackman defaulted on its mortgage. Goldman Sachs took over and is now negotiating the sale to Netflix for ~$330 million – a massive discount.
What This Means for Netflix’s Production Empire
If the deal goes through, Netflix will add a key owned-and-operated Los Angeles production hub to its portfolio:
| Location | Type | Status |
|---|---|---|
| Radford Studio Center (LA) | Owned (potential) | Negotiating |
| Netflix Studios Albuquerque (NM) | Owned | Operating |
| Fort Monmouth (New Jersey) | Future East Coast hub | In the works |
Impact on the Wider Soundstage Market
Other soundstage operators in Los Angeles – including Hudson Pacific, Hackman Capital, and CBS Studios – could face downstream effects. If Netflix owns its own major production facility, it may reduce its reliance on leasing from competitors, tightening supply and potentially lowering demand for other studio spaces.
What Happens Next?
The most likely scenario (based on Hudson Pacific’s CEO comments):
- Netflix buys Radford at the discounted price (~$330M).
- Netflix uses Radford as a production campus (21 soundstages).
- Netflix keeps its Sunset Bronson office lease for headquarters functions until at least 2031.
- CBS remains a long-term office tenant at Radford.
This would give Netflix a hybrid strategy: own major production real estate while maintaining flexible office leasing.
Final verdict: This is not just a real estate deal – it’s a strategic power move in the streaming wars, ensuring Netflix’s production capacity for the next decade.
