Another entertainment company is on the move to West Hollywood.
Hasbro is planning to relocate 100 employees that work across film, TV, gaming, licensing, toys and its AI studio to The Lot at Formosa in the first quarter of next year. The company inked a long-term lease for 31,435 square feet on the third floor and part of the fourth floor at the Formosa West office building.
The firm will vacate its lease on Empire Ave in Burbank, where it had been occupying 80,000 square feet of office space that housed its consumer products and entertainment segments, per a regulatory filing.
Hasbro will join Miramax, Live Nation, People Inc. and Kevin Hart’s banner Hartbeat on The Lot, an 11-acre campus owned by CIM Group that also touts seven soundstages.
“This move marks a new chapter for Hasbro, bringing our teams into the heart of West Hollywood and closer to the partners we collaborate with every day,” said Kim Boyd, president of global licensing and entertainment at Hasbro.
Hasbro’s Hollywood projects in the works include a Monopoly adaptation being developed by Margot Robbie’s banner LuckyChap at Lionsgate, a new G.I. Joe adaptation set up at Paramount as well as a Netflix competition series adapted from board game Clue.
Its last two big screen features were Paramount’s Dungeons & Dragons: Honor Among Thieves (which grossed $205 million globally) and Transformers: Rise of the Beasts ($441 million) in 2023.