Governor Brian P. Kemp today announced that Cinelease Studios will expand its Georgia operations, Three Ring Studio in Covington.
Cinelease currently serves the Peach State’s film industry via three locations in Clayton, Gwinnett, and Newton Counties. The expansion at Three Ring will include eight new stages, enhancing the campus to a total of 14 purpose-built sound stages and providing a total of 276,000 square feet of stage space, 100,000 square feet of office space, and an additional 72,800 square feet of flexible space, upon its completion in 2023.
“Georgia is proud to be home to a wide range of job creators, including those in the entertainment industry,” said Governor Kemp. “With this substantial investment and expansion of their infrastructure, Cinelease is making it known that they are a major player in film and TV production. I look forward to the new opportunities this expansion will bring to hardworking Georgians.”
The 90-acre, $144 million facility – owned and developed by a joint venture between Rahim Charania with Atlanta-based real estate firm Woodvale and Cary Goldman with Chicago-based real estate firm Timberhill Group – will be one of the largest film studios in the country when complete and the only public-private partnership that has developed infrastructure for the film and TV industry in Georgia. With Cinelease Studios leading the management of the media campus and the supply of media equipment, Cinelease Studios – Three Ring will be Georgia’s first vertically integrated production campus.
“Cinelease has been a pioneer in Georgia’s entertainment industry. Our senior leadership had the foresight to see the potential in the state, and we are proud to have acted as a magnet for the regional expansion of our industry,” said Gannon Murphy, General Manager of Cinelease Studios. “We can confidently say that investing in an expansion of this magnitude reinforces Cinelease’s commitment to making an impactful contribution to the workforce, tax base, and client experience in Georgia.”Cinelease Studios Three Ring
Cinelease opened its Atlanta doors in 2007 with 8,000 square feet of warehouse space in East Point. They now employ nearly 60 Georgians. The Georgia Film Office, which is part of the Georgia Department of Economic Development, has worked closely with Cinelease on their Georgia projects. The company is also a member of the Georgia Screen Entertainment Coalition, as well as the Georgia Studio and Infrastructure Alliance.
“We are excited that Cinelease has had such success here in Georgia,” said Pat Wilson, Commissioner of the Georgia Department of Economic Development. “This announcement is a testament to the resiliency of Georgia’s film industry over the last two years. A big thank you to Cinelease for housing productions and providing film industry services to the many film and television shows that have filmed here and are currently shooting in Georgia.”
“Cinelease’s expansion is a testament to the success of Georgia’s film tax credit. While it is only film and television projects that are qualified to earn the tax incentive, thousands of taxpaying support service companies – like Cinelease – are able to grow as well, in response to the level of business,” said Georgia Film Office Director Lee Thomas. “Thank you to Cinelease for their continued commitment to the State of Georgia, and thank you to the state legislature for their continued support of this transformative legislation.”
To celebrate its expansion, Cinelease Studios – Three Ring will hold a ceremonial golden shovel event in the coming weeks.
About Cinelease Studios
Cinelease Studios is a unique studio management team that was created as a natural extension of the industry-wide recognized Cinelease and Herc Entertainment names, combining a shared history of serving the film and entertainment industry for 40+ years. Cinelease Studios has created a pathway to the most exclusive studio experience. For more information, please visit www.cinelease.com/studios.
About Woodvale, LLC
Founded by Rahim Charania, Woodvale, LLC, is a leading alternative investment firm, providing solutions for clients along with strong and consistent returns for investors. Woodvale’s deep experience in special purpose real estate development, equity capitalization, and debt re-structuring provides a single-source solution serving the many needs of today’s commercial real estate users. For more information, please visit www.woodvale.com.
About Timber Hill Group
Founded in 2018 by career industrial real estate executive Cary Goldman, Timber Hill Group is a private equity firm specializing in the acquisition and development of logistics related real estate. The firm also offers development, asset, construction and property management services. For more information, please visit www.timberhillgroup.com.