Paramount Skydance, 1888 Studios enter into 10-year lease agreement

1888 Studios “announced that Paramount, a Skydance Corporation, (PSKY) has signed a landmark minimum 10-year lease agreement. Paramount has committed to occupy more than 285,000 square feet of the facility, establishing a major production hub in New Jersey. Paramount’s commitment further cements the state as a premier destination for film and television production, backed by a leading tax incentive program. Currently under development by Togus Urban Renewal, 1888 Studios is set to become the largest campus-style production facility in the Northeast and one of the largest in the nation. The 58-acre facility will offer over 1.1 million square feet of production space spanning 23 smart sound stages with a minimum of 40-foot clear ceilings; production support space; flexible post-production space; offices; mills; base camp and backlot; and lighting and grip facilities to accommodate every phase of production.”