Actors’ Equity (AEA) announced the purchase of an 18,000-square-foot building in North Hollywood, Calif., that will serve as the new western region headquarters. The new building is located at 5636 Tujunga Ave., in the NoHo Arts District.
“The building allows [AEA] opportunity for growth and income. It also provides long-term cost savings for the association,” said Steven DiPaola, AEA’s assistant executive director for finance and administration, who represented AEA in the real estate negotiations.
As our experience has proven, the real estate that [AEA] purchased in New York in 1978, and in Chicago in 2009 were prudent, forward-thinking strategies that have given [AEA] visibility and financial security, while also giving us the resources to develop and deliver services to our members. We now have a third, tangible real estate investment that strengthens our portfolio and expands our abilities in Los Angeles and the surrounding areas.
Construction plans include an audition center, expanded office space, exterior signage and space to lease to a third party. Renovations will begin later this year, with building occupancy expected in early 2014.