Paramount Signs 10-Year Deal with 1888 Studios
1888 Studios to build a state-of-the-art, 1.6 million square foot film and television production campus in Bayonne, NJ
As a New Jersey real estate professional, I can’t help but view Paramount’s recent move into Bayonne as a defining moment for the Garden State’s transformation into an entertainment and media hub. For years, we’ve watched production companies flock to New York City, but now the tide is clearly shifting west across the Hudson. Paramount Global’s 10-year anchor lease with 1888 Studios marks a major East Coast expansion for the entertainment giant — home to CBS, MTV, Nickelodeon, and Paramount Pictures — and signals that New Jersey has become a serious player in the film and streaming industry.
What makes Bayonne so attractive to a company like Paramount is its perfect mix of proximity and practicality. The city offers immediate access to New York’s talent pool while benefiting from New Jersey’s more favorable tax incentives and lower operational costs. This location allows Paramount to cut down on logistical pressures at its existing East Coast facilities while expanding its production capabilities for the booming world of original streaming content.
From a real estate perspective, the ripple effects of this deal are impossible to ignore. Whenever a major studio moves into a community, demand for both commercial and residential property follows. We’re already hearing from small business owners and developers eager to position themselves near Bayonne’s growing entertainment corridor. Film and television productions need more than cameras and actors — they require local services such as catering, construction, set design, and transportation. That means more opportunities for local entrepreneurs and new tenants looking for space to support the entertainment supply chain, from editing suites to wardrobe warehouses.
Of course, with opportunity comes responsibility. The success of this massive project will depend on how efficiently it’s executed — particularly when it comes to infrastructure, housing, and transportation. City and state leaders are already collaborating to ensure Bayonne is ready for what’s coming. Its strategic location near the Turnpike, Port Newark, and Newark Liberty International Airport provides a strong logistical foundation, which will be essential as production ramps up. The first phases of 1888 Studios are expected to open by late 2026, with full operations by 2027 or 2028, positioning Bayonne to become one of the largest film and television campuses in the nation.
This expansion isn’t happening in isolation. Netflix’s $900 million studio at Fort Monmouth and Lionsgate’s new footprint in Newark underscore a statewide shift. New Jersey is no longer the “affordable alternative” to New York — it’s fast becoming the destination of choice for creative enterprises. As Bayonne’s Planning and Development Director Robert Summerfield aptly said, “People used to say New Jersey was where you filmed because you couldn’t afford New York. Now they’re filming here because they want to.”
For those of us in real estate, this evolution represents more than just new listings or higher property values — it’s about participating in New Jersey’s next chapter. Paramount’s arrival brings with it a story of reinvention, where an old industrial city finds new life through creativity, technology, and storytelling. And for anyone investing, developing, or simply dreaming in the Garden State, that’s a story worth being part of.