Cinespace Studios Buys EUE/Screen Gems’ Atlanta And North Carolina Campuses
Cinespace Studios said today it’s acquiring two EUE/Screen Gems campuses, in Atlanta and Wilmington, North Carolina, in an ongoing push to diversify its portfolio of studio and accommodate productions of all sizes in one global network.
The locations will operate as Cinespace Atlanta (the home of Netflix’ Stranger Things) — and Cinespace Wilmington.
Financial details weren’t disclosed.
“We’re excited to announce our expansion into Atlanta and Wilmington,” said Ashley Rice, President & Co-Managing Partner, Cinespace Studios. “Through the strategic acquisition of these well-regarded studio facilities, we’re expanding our footprint in the industry and commitment to supporting every type of creative need.”
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The Atlanta studio has total square footage of 360,000 of production space across 13 sound stages. It recently completed an expansion adding new office space, additional support space, and three new sound stages of over 21,000 square feet each.
Wilmington houses 10 sound stages totaling 152,000 sq. ft of shooting space alongside construction mills and office spaces. The facility near a coastline and rural landscape has been home to over 400 productions including Marvel Studios’ Iron Man 3, Amazon Studios’ The Summer I Turned Pretty and Showtime’s George & Tammy.
There’s been a rush to build and buy studios since streamers emerged and need for quality production facilities exploded, with many assets changing hands in recent years. In 2021, TPG Real Estate Partners acquired the studio campuses of Cinespace Studios in Chicago and Toronto.
“We’re excited to announce our expansion into Atlanta and Wilmington,” said Ashley Rice, President & Co-Managing Partner, Cinespace Studios. “Through the strategic acquisition of these well-regarded studio facilities, we’re expanding our footprint in the industry and commitment to supporting every type of creative need.”
The Cooney family, which purchased the assets of EUE/Screen Gems from Coca-Cola in 1983, “has successfully built two great companies in both Atlanta and Wilmington,” said Eoin Egan, COO & co-managing partner, Cinespace Studios. “We’re looking forward to welcoming both studio operations teams into Cinespace and will continue to offer a best-in-class service to production.”
Chris Cooney, CEO of EUE/Screen Gems, said: Cinespace Studios’ expertise “will carry forward the legacy we’ve crafted to new heights. Their industry expertise, combined with their outstanding team and commitment to the local communities where they operate sets the stage for a successful future.”
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