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Paramount, a Skydance Corporation (NASDAQ: PSKY), has committed to occupy more than 285,000 square feet of the to-be-built facility in a landmark 10-year lease agreement. This anchor commitment was instrumental in Paramount’s designation by the New Jersey Economic Development Authority (NJEDA) Board on 30 October 2025 as a Studio Partner under the state’s Film and Digital Media Tax Credit program. Hogan Lovells advised Togus Urban Renewal on the anchor lease.
The Hogan Lovells deal team was led by New York-based real estate partners Trevor Adler and Steven Moskowitz.
“We are proud to work with Togus Urban Renewal in bringing 1888 Studios to life. This transformative project will strengthen the greater NYC area’s reputation as a hub for film and television production as well as create significant economic opportunities across the region,” said partner Trevor Adler.