When Tyler Perry first opened his studio lot in 2008, in Atlanta, GA, it was considered a wonder of the times. But things change quickly.
A year ago, Tyler Perry Studios in Atlanta was put up for sale, although it wasn’t widely reported. The property still remains for sale, at a $25 million listed price. You can read the real estate listing here.
The offering includes: over 120,000 square-feet of office, production, commissary, café, gym, hair and makeup, wardrobe and post-production space, 5 sound stages totaling 50,595 square-feet with 32’ ceilings, 56.6 acre parcel with 33.2 acres available for future expansion, fully functional backlot with 12 houses/sets among others, and more…
The $25 million is actually quite bargain considering all that you’re getting. Although when it first went up for sale, it may have been priced higher, but since there still aren’t any buyers a year later, the price might have been dropped.
So does this mean that Perry is giving up owning a studio for good? On the country. The reason for the studio’s sale is because Perry is currently making designs for an even larger studio located just on the outskirts of Atlanta, on the grounds of an old abandoned U.A. Army base called Fort McPherson, which he plans to turn into a larger new movie studio lot.
In April, the Atlanta City Council approved a deal that would allow Atlanta Major Kasim Reed to offer a $13 million line of credit which was required by the Army to clean up 22 acres of contaminated land on the site, which is necessary in order to turn 330 acres of Fort McPherson’s 488 acres into sound stages.
“This deal is getting ready to fall apart because of the time it’s taken to get done,” Reed told the city council on April 20. “We are at a moment when we need to close.”
But new reports say that a deal could close by the end of the year, so we’ll see.
As for the old studio, it would be a genuine shame to see it decay, or be turned into something if an appropriate buyer is not found to keep it running as studio.