Manex Entertainment Acquires Trenton StudiosManex Entertainment Inc. has bought a complex of seven buildings and real property that will be the site of the proposed Trenton Studios Development Project 6/18/2003 8:00 AM Eastern
Manex Entertainment Inc. has bought a complex of seven buildings and real property that will be the site of the proposed Trenton Studios Development Project (TSDP) in Trenton, N.J.
Plans for the TSDP Complex includes converting over 89,000 square feet of existing floor space into production offices, post-production, visual effect, sound, rendering and classroom facilities. An additional 85,000 square feet of existing warehouse space will be renovated and utilized to house and distribute a large mix of production rental equipment for film, television and commercial production. Also part of the construction is over 100,000 square feet of new space to be designed and used as state-of-the-art production studios and stages.
Additionally Manex Entertainment announced that it has, through its wholly owned subsidiary Trenton Studios Inc., entered into a redevelopment agreement with the Mercer County Improvement Authority (MCIA) and the City of Trenton for assistance in the four phased development of its new facilities. The agreement includes provisions for capital improvements to the complex of approximately $25 million by the end of phase two. Both the City of Trenton and the MCIA have approved the company's conceptual plans for the redevelopment of the TSDP Complex.
Gary Kucher, Manex Entertainment's chairman and CEO, said, "We are very excited at the opportunity that acquiring the Trenton Studios Complex presents for Manex. We look forward to a long and prosperous relationship among Manex Entertainment, the City of Trenton and the MCIA. We believe that our company will contribute to the city's renaissance and the great strides made in Trenton, due in large part to the efforts of Mercer County executive Bob Prunetti and mayor Doug Palmer."
For more, visit www.ManexEntertainment.com.