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Megan Ellison buys $40M of contiguous properties for production company

“American Hustle” producer Megan Ellison, daughter of billionaire Oracle chairman Larry Ellison, has some serious real estate hustle. The prolific Hollywood producer, who’s produced movies such as “Zero Dark Thirty” and “Her,” has paid $40 million for five contiguous buildings in West Hollywood for her production company, Annapurna Pictures, according to the L.A. Times. The five buildings, located on the corner of Robertson Boulevard and Keith Avenue, total a combined 28,000 square feet. Decades ago, silent movie actress and producer Norma Talmadge owned the same commercially zoned site and operated it as a movie studio. It was later sold to stage artist Tony Duquette and then to art dealer Margo Leavin in 1970, who sold it to Ellison. Teles Properties’ Jason Froehlich was the listing agent. Demand for studio space in L.A. County continues to flourish as California continues to offer tax credits for TV production. Online video production is also flourishing, thanks in part to Netflix, which recently leased all 323,000 square feet at the Icon Building at Sunset Bronson Studios in Hollywood. — Cathaleen Chen – See more at: http://therealdeal.com/la/2016/06/02/acclaimed-producer-buys-40-million-worth-of-properties-for-studio/#sthash.4CNzcxUq.dpuf