Hollywood has seen some major commercial redevelopment in recent years with companies like ViacomCBS, SiriusXM and Bond constructing and/or renovating existing properties to expand the entertainment industries reach in the neighborhood. But few companies have expanded their footprint as much as Netflix.
The streaming giant already owned or leased as many as six different sites within a two mile radius—and now they’re adding to the lot.
Word from the L.A. Business Journal is that Netflix has paid $25 million for the former Denny’s restaurant that once stood across the street from Netflix’s headquarters at Sunset and Van Ness. The restaurant was torn down last year, and no plans were announced as to how Netflix intends to develop the single-acre property.
According to the L.A. Business Journal, the company occupies nearly 1.3 million square feet in Hollywood.