Photo Credit: Getty Images
A piece of Hollywood history is officially on the market. Occidental Studios, one of Los Angeles’ oldest and most storied film studio lots, is up for sale with a listing price of $45 million. But for the current owners, this isn’t just a real estate transaction—it’s a matter of legacy.
“This is a place with a whole lot of history. It was first built back in 1913 before some movies even had sound,” FOX Business correspondent Max Gorden reported. Over the years, the studio has evolved but held onto its historic charm, featuring office spaces, bungalows, and four fully-equipped sound stages. Stage 1, the crown jewel of the lot, spans 14,000 square feet and boasts ceilings that soar 54 feet high.
Craig Darian, CEO of Occidental Entertainment Group Holdings, made it clear to FOX Business that any potential sale must reflect the property’s value beyond just the numbers. “If we can’t sell at $45 million or there about on terms that we’re comfortable with, it’s not going to be just a money play, it will be a successor play,” he said. “We’re holding a piece of art, and we’re going to be stubborn in the next generation. It’s not gonna be sold to just anybody.”
The sellers are insisting that any buyer must be committed to continuing film production on the property—a stipulation that speaks to the broader concerns facing Hollywood. Despite Occidental Studios’ appeal, the broader landscape is shifting. According to FilmLA, the average occupancy rate for Los Angeles sound stages fell to 63% last year—a five-percentage-point drop from 2023—as film and television productions increasingly look beyond California.
To stem the tide, California lawmakers recently approved a major boost to the state’s film and TV tax credit program, raising its annual budget from $330 million to $750 million. Still, Darian remains cautiously optimistic. “It’s more reactive, candidly, than proactive,” he said. “Whether it’s too little, too late, it’s a game that we’ll have to pay attention to. Our legislators will have to be very attentive to how important this industry is.”
With 8 million square feet of stage space across Los Angeles and an entertainment sector contributing over $30 billion to the state economy while supporting more than 200,000 local jobs, the stakes remain high. Occidental Studios represents more than real estate—it’s a symbol of Hollywood’s enduring influence and uncertain future.
