Lucasfilm, Disney deal won't impact Letterman Digital Arts Center
Lucasfilm should not have any immediate impact on the 850,00- square-foot Letterman Digital Arts Center in San Francisco's Presidio National Park, according to real estate brokers who lease space in the complex.
The Letterman Digital Arts Center, which operates the bucolic four-building campus, is a separate entity from Lucasfilm. In fact, there are more than a dozen separate Lucasfilm-related companies that each pay rent to the center. Disney will take over the rent payments the various Lucasfilm companies make to the Letterman Digital Arts Center, a partnership that includes Star Wars and Lucasfilm creator George Lucas.
Letterman Digital Arts Center is in year 10 of an 80 year ground lease on the 23-acre property. Various companies affiliated with Lucasfilm occupy about 600,000 square feet of the complex. The rest of the space is occupied by everything from hedge funds to real estate to headhunting firms. The JLL leasing team has done nine deals in the complex over the past few months, most of it filling space that Babcock & Brown vacated when it went bankrupt in 2009.
Letterman Digital Arts Center pays a rent of $5.8 million annually to the Presidio National Trust, an amount that will increase over time.
Read More: http://www.bizjournals.com/sanfrancisco/blog/2012/10/lucasfilm-disney-deal-wont-impact.html
Follow at Twitter.com/JediMouseketeer
"Like" us on Facebook.com/JediMouseketeer
Book your next Disney vacation or cruise with Kristen Hoetzel of Magical Journeys Travel!