San Fernando Valley residents and businesses will soon be able to store their belongings on a piece of Hollywood history. Last year, makeup artist Rick Baker sold his Cino-vation Studios in Glendale for $7.4 million to Morelli Brothers Enterprises, which is now in the process of converting the space into a 70,000-square-foot self-storage facility. Located at 6527 San Fernando Road, the complex will have 700 to 800 units when it is scheduled to be completed in late February or early March. Baker acquired the warehouse in 1995 for $1.8 million. For almost two decades, he worked there to create some of Hollywood’s most famous creatures and special effects for movies such as “Men in Black” and the “Planet of the Apes” remake. The seven-time Academy Award winner announced his retirement in spring of last year and soon after held an auction in collaboration with movie collectable vendor Prop Store in Chatsworth. The auction was composed of more than 400 items, including a Mikey the alien costume display from “Men in Black” that sold for $32,500. But for developers, the real treasure was the land under Baker’s studio. “One could probably never duplicate that building again, especially along San Fernando Road,” said Stephen Gross-man, a senior vice president at NAI Capital Inc. in Irvine who brokered the deal. “It’s ideal for storage because of demographics and traffic.” In addition to the location, Morelli Brothers was drawn to the property for its subterranean parking. The underground structure mirrors the floor above it, meaning it is the same size, allowing the company to acquire an additional 30,000 square feet for less than the going rate. Morelli Brothers declined to disclose what it paid for the property. “It was just a unique situation and that’s what we look for,” said company co-founder Dave Morelli. Once construction is complete, the property will be sold to Extra Space Storage in Salt Lake City and San Francisco investor Bristol Group Inc. for an undisclosed amount. – Stephanie Henkel
