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etflix, the streaming giant, is considering a change of scenery for its creative offices. For eight years, it has been based in a cluster of office buildings on Sunset Boulevard, but with its lease set to expire in 2031, the company is weighing its options. According to Bloomberg, Netflix may choose to buy its current premises from landlord Hudson Pacific Properties Inc., which would involve negotiating with private equity giant Blackstone.

    Hudson Pacific initially invested in office buildings before expanding into the entertainment business, including soundstages for film and TV. However, production cutbacks and the 2023 writers and actors strike have taken a toll on this segment of its business. Meanwhile, Netflix has been increasing its national real estate footprint, with recent expansions including a new location in Albuquerque, New Mexico, which features eight sound stages on 28 acres.

    The company has also signed a deal to lease a massive 171,000-square-foot space in Burbank for its first dedicated animation studio, marking the biggest new office lease in Los Angeles County that year. With its growing real estate presence, Netflix may opt to create a campus-type office facility, possibly outside of Hollywood.