Reel FX Purchases Deep Ellum Digs

Over on the Dallas Morning News‘ City Blog, Robert Wilsonsky has details about the ongoing negotiations between the City of Dallas and Deep Ellum-based Reel FX.  On June 27, the council will discuss paying for significant improvements to the area around Reel FX’s HQ — streetscapes, parking — as an incentive to keep the renowned creative company housed in Dallas-proper. But it looks like Reel FX is confident about city’s commitment to keeping the company. Reel FX has announced that it has purchased its N. Crowdus St. location, which will continue to serve as its corporate headquarters. The company also has a facility in Santa Monica, CA. Here’s the release:

 

REEL FX COMMITS TO DALLAS WITH THE ACQUISITION OF ITS DEEP ELLUM HEADQUARTERS

DALLAS, TX – June 6, 2012 – Deep Ellum-based Reel FX Inc. (Dallas | Santa Monica), an award-winning creative studio specializing in animation and visual effects for feature films, commercials and live-venue projects, has secured its footprint in Dallas with the acquisition of 301 N. Crowdus Street.  After seven years in the building, Reel FX acquired the 73,200 square foot property to serve as its corporate headquarters. The studio also currently occupies a 16,000 square foot facility in Santa Monica, California.

Billy Gannon and Gary Collett of Cushman & Wakefield of Texas, Inc. represented Reel FX.

“After an 18-month process assessing several unique opportunities in Frisco, Richardson and Dallas, it became very clear that Reel FX should remain in its current location,” said Gannon in a statement. “Deep Ellum offers the perfect environment for the studio’s culture, provides ample amenities, and is located just steps away from DART’s green line.  To continue to attract and recruit the best talent in the industry, the Deep Ellum location makes perfect sense for this fast growing company.”

The City of Dallas has offered a substantial economic incentive package as part of their business retention program, which played a significant role in Reel FX’s decision to remain in Dallas. The incentive package was approved by the City Council’s Economic Development Committee on June 4, 2012 and recommended to the full Council for final approval on June 27, 2012. The City’s Economic Development Office (Hammond Perot, Chris O’Brien and Karl Zavitkovsky) clearly demonstrated the importance of retaining Reel FX as a corporate tenant in Dallas. The pro-business attitude of Mayor Mike Rawlings was also instrumental in Reel FX’s decision-making process: he helped develop and structure the City’s economic incentive package, and leveraged relationships with other Dallas businesses to further support the overall incentives offered. The City of Dallas’ partnership with Reel FX showcases the willingness of Dallas to remain a “pro-business” environment and retain the top businesses in the city.

“Helping with the expansion of Reel FX’s headquarters and operations is a big win for Dallas,” said Michael S. Rawlings, Mayor of Dallas.  “As a significant employer, who is an award-winning, animation, visual effects, design and entertainment and commercial studio, Reel FX’s commitment to Dallas cements our location as an innovation and creative business hub.  We look forward to supporting their continued success and expansion.”

“We have called Dallas home for almost two decades, and our goal was to remain in Dallas and in Deep Ellum,” said Reel FX Chief Operating Officer Kyle Clark. “We couldn’t be happier to stay in the building we consider an important part of our past, and now, our future.”

ABOUT REEL FX: Founded in 1993, Reel FX (Dallas and Santa Monica), is a creator of cutting-edge content for film, TV, publishing and digital media. It is a one-stop studio for the development and production of CG-animated and effects-driven live-action “family franchise films”, special attraction/live venue projects, commercials, and interactive projects. Reel FX combines top creative talent (writers, directors, animation and effects artists) with seasoned executives and a proven proprietary animation and production management software (developed by Reel FX), which allows its artists to work & collaborate more effectively. Reel FX also actively develops and secures the rights to franchise-worthy literary material.  Reel FX’s development team is led by a team of industry veterans including Academy Award®-winning producer, Aron Warner, Academy Award®-winning, former Industrial Light and Magic Senior Executive, Ed Jones, and former Walden Media CEO, Cary Granat.

 

One comment on “Reel FX Purchases Deep Ellum Digs

  1. Congratulations to Reel FX… And, thanks to the city of Dallas for their efforts and understanding with creating a workable process to allow a great company like this to stay in TEXAS, with a positive affect for jobs and economic development growth… Spiderwood Studios…