Developer Hackman Capital is in the process of purchasing CBS Television Studios in Fairfax, the Los Angeles Times reports.
The deal, though not yet complete, is said to be for more than $700 million. (That’s roughly in the middle of the range experts gave when the property came on the market last year.)
CBS is expected to stay at the campus for some time after the sale goes through, but beyond that, it’s not known what’s planned for the site, the Times reports.
A representative for Hackman has not returned messages seeking comment.
The Fairfax studio campus was where decades of television classics were filmed, like The Carol Burnett Show and All in the Family, and where shows like Late Night With James Corden continue to be produced.
The property was awarded landmark status earlier this year. The landmark designation allows for the most historic and architecturally significant part of the complex to be preserved but leaves the door open for development elsewhere on the 25-acre campus.
Hackman, which is based in Los Angeles, has a handful of large-scale and high-profile projects in the works now.
Hackman is also redeveloping the former Northrop Grumman aerospace plant in El Segundo into 550,000 square feet of creative office space spread across four buildings.