The Commercial Observer is reporting that global investment firm Nuveen is now set to acquire Comcast’s new esports studio in Los Angeles, California for $53.5 million. Sources close to the situation confirmed that the sale is expected to take place soon.
“The narrative around L.A.’s thriving studio market is mostly consumed by the ‘streaming wars’ waged by companies like HBO and Amazon,” writes Greg Cornfield of the Commercial Observer. “But that market is also bolstered by the increasing demand from the growing esports industry, and experts say developer and investor interest has not abated, even with the pandemic.”
The venue is located at 1840 Victory Boulevard on the border of Glendale and Burbank. The recently renovated property is 66,700-square-feet. As a result, the cost of the venue comes out to $815 per square foot.
(All information was provided by Commercial Observer)