NBCU, Thomas Properties Shut Down $750M LA Office Deal

Law360, New York (January 4, 2012, 2:55 PM EST) -- NBCUniversal Media LLC and Thomas Properties Group Inc. have canceled a $750 million deal for a production studio and office project in Los Angeles, Thomas Properties announced Wednesday.

NBCU was set to anchor the 1.5 million-square-foot collection of buildings, called MetroStudios@Lankershim, on Lankershim Boulevard across from Universal Studios. It would have created 5,000 permanent jobs and added about $8 million to the Los Angeles economy, according to promotional materials for the project.

In connection with the breakup, which took place Dec. 19, NBCU paid Thomas Properties...
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