Independent Real Estate Advisory
Everything, Everywhere, Real Estate Doesn’t Have to Be All Uncertain at Once
Independent advice on capital markets, leasing, and development from Carl Muhlstein, more than four decades at the center of Los Angeles real estate, specializing in studios, entertainment, and advanced manufacturing.
Cinerama Dome, Hollywood
Long-term lease to Sony Pictures Entertainment and Alamo Drafthouse to restore and reopen the Dome and the adjacent former ArcLight complex. Carl, with CBRE and JLL, represented the ownership.
Occidental Studios Main Lot
Los Angeles' longest continuously running studio lot: three acres, four soundstages, and about 65,000 square feet near Westlake, marketed with CBRE.
Dolby Theatre, Hollywood
Sale of the home of the Academy Awards for CalPERS, for about $50 million. Carl, with JLL, represented the seller.
Studios & Entertainment
Soundstages, production campuses, and venues, valued as the operating businesses they are, from the $1.85 billion CBS Studio Center sale to the Cinerama Dome's return.
Learn moreAdvanced Manufacturing & Defense Tech
Mission-ready sites for hard-tech users: power, specs, security, and seismic diligence before you sign, as the real estate partner in Mission-Ready.
Learn moreRiot Games Headquarters
Riot Games' purchase of its West Los Angeles headquarters, including the cancellation of its lease.
Case studyCBS Studio Center
$1.85 billion sale for ViacomCBS, Los Angeles' commercial real estate deal of 2021 per Commercial Observer.
Case studyColumbia Square
180,000-square-foot lease bringing Viacom's MTV to Kilroy Realty's Hollywood campus.
Case studyConsolidation is already changing how studio space gets used. The bigger test for landlords may come in about five years, if new stages open into a weaker production market.
Buying below replacement cost no longer protects a deal when record debt costs are resetting commercial real estate.
Paraphrased from Carl's published comments; follow each link for the original.
Half a Century of Brokerage
Carl with Andrew Kirsh on The Kirsh Connection.
Hollywood 2.0: Rethinking Real Estate in the Entertainment Capital
Moderator, USC Gould Real Estate Law and Business Forum.
The real estate at play in the Paramount-Warner Bros. deal
Carl on consolidation and the studio market.
Carl Muhlstein founded Muhlstein CRE in December 2023 after more than thirty years in senior roles at JLL, Cushman & Wakefield, Insignia/ESG, and Tishman Speyer. He works alongside brokerage teams, not against them, and advises on the facts.
Read Carl's storyEngagement starts with the facts.Or email Carl directly at carl@muhlsteincre.com
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