Following Bankruptcy, Two Floors of Re-recording Stages Are Being Offered As 'Turnkey Operations'
Want to buy a world-class audio facility? The former Burbank studio operated by now-bankrupt Todd-Soundelux is up for sale.
The remarketing services division of investment firm Tiger Group and auctioneer GA Global Partners are accepting offers for what is described as "complete turnkey operations" including a total of seven re-recording and ADR stages and other equipment in leased space spread across 25,000 square feet on two floors.
"This sale represents an opportunity to step into the void being left by the decommissioning of Todd-Soundelux's Burbank studios and the dismantling of the company's other mixing soundstages in Hollywood and Santa Monica," said Tiger Remarketing Services President Jeff Tanenbaum in a prepared statement.
The property may be split into two individual floors in order to make it more attractive to smaller firms, Tanenbaum said. Two full-size stages for feature and broadcast audio post are on the first floor; the second floor has five smaller re-recording stages. All of the stages are built around Pro Tools systems.
Todd-Soundelux filed for Chapter 11 bankruptcy protection in May. The holding company's brands included Todd-AO, Soundelux, and Pacific Ocean Post (POP) Sound. Post-production sound company Formosa Group last month announced plans to re-open the former POP Sound facility in Santa Monica that was shuttered earlier this year following the Todd-Soundelux bankruptcy.