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Six years after opening their doors, Third Rail Studios‘ film and TV production facility in Doraville has been acquired by Broadcasting heavyweight Gray Television. The facility is located just adjacent to the 127-acre shuttered GM factory site where Gray Television plans to build a “Studio City” mixed-use development anchored by TV and movie studios. The facility was acquired Integral Group for $27.5 million, according to a report by NextTv.
Third Rail Studios was opened in 2016, originally called Assembly Yards. The space includes three sound stages, a backlot, 70,000 square feet of mill and support space, and 30,000 square feet of production offices. All together, the nearly 200,000 square foot Third Rail Facilities will serve as the anchor for the “Studio City” currently in development by Gray.
In a statement made in a press release, Michael Hahn, a co-owner and developer of Third Rail Studios said that “not only was Third Rail a successful real estate investment, but it drove economic activity and job creation both locally and for the state of Georgia. Third Rail Studios President, Dan Rosenfelt, also said that “we set out to make Third Rail Studios a special, welcoming place for our productions as well as a catalyst for good in the community. We’re happy that we’ve exceeded those goals and are passing the torch on a high note.”
Gray Television’s Studio City development will be anchored by studio space while also featuring mixed-use structures and entertainment facilities. The project is located near I-285, I-85 and the DeKalb-Peachtree Airport and is adjacent to two MARTA stations. The first phase is expected to be completed in 2022.