Cinespace Studios recently announced their acquisition of the EUE/Screen Gems campuses in Atlanta, where Netflix’s hit series Stranger Things films, and Wilmington, North Carolina as a part of a focused mission to become a mecca for film and TV production.
While the financial details remain undisclosed, the two locations will change their names to Cinespace Atlanta and Cinespace Wilmington.
“We’re excited to announce our expansion into Atlanta and Wilmington,” said Cinespace’s President, Ashley Rice. “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 Atlanta campus recently finished a sizable expansion including new offices and support space alongside three new stages, raising the campus tally to 13 sound stages across 360,000 total square-feet.
As for Wilmington location, the 43-acre, full-service studio lot is located on the North Carolina coastline and since its creation in 1985, has welcomed more than 400 productions, including an array of blockbuster movies and popular tv shows like The Summer I Turned Pretty, One Tree Hill, and Black Phone to name a few.
TPG Real Estate Partners, the owners of Cinespace, observed the rise of streaming giants and decided to capitalize on the demand for quality production facilities stemming from sky-high viewership numbers in the streamer world. They got started in 2021 by purchasing Cinespace, who had campuses in Chicago and Toronto at the time.
Now, TPG is continuing their expansion through the purchase of EUE/Screen Gems, who have, “successfully built two great companies in both Atlanta and Wilmington,” added Cinespace’s COO and Co-Managing Partner, Eoin Egan. “We’re looking forward to welcoming both studio operations teams into Cinespace and will continue to offer a best-in-class service to production.”