The Academy of Television Arts & Sciences recently purchased its North Hollywood headquarters, it was announced today by Frank Kohler, the Academy's Chief Financial and Administrative Officer. The property, which was purchased for an undisclosed amount, was acquired from AG/Touchstone Daly, LLC., previous landlord of 5220 Lankershim Blvd.
The Academy will soon begin plans to consolidate its entire staff, many of whom are housed in an eight-story tower opposite the main structure, into one building. Renovations to the Academy's signature two-story building will be accomplished in two phases. Work will begin in February 2005, with completion anticipated by 2010.
"We are very fortunate to be able to purchase this property, which has been the Academy's home for the last thirteen years," said Kohler. "Not only will our operational efficiency increase by combining our employees under one roof, but we have made a sound investment for the Television Academy for the years to come."
The Academy's Real Estate committee, comprised of Karen Miller, Chair, and committee members Sheila Manning, Leo Chaloukian and John Shaffner, worked closely with Kohler to evaluate various space-plan alternatives. The Academy was represented in the transaction by Mark E. Robinson, corporate managing director, Media Services Group and Craig Jablin, managing director of the real estate brokerage firm Studley, Inc. AG/Touchstone Daly, LLC. was represented by Scott Murphy.