James Cameron to work on 'Avatar' sequels in Manhattan Beach

He'll be leasing studio and office space at the MBS Media Campus (formerly known as Manhattan Beach Studios), THR is reporting. No word on the dollar value of the lease, but the Reporter says that the facility is likely to become the new home of Cameron's company, Lightstorm Entertainment. "Avatar 2" is scheduled for release in December 2014 and "Avatar 3" the following December.

Production of the original Avatar was centered in Playa Vista at a property now known as the Hercules Campus, named for the Spruce Goose, the mammoth airplane built there by Howard Hughes in the 1940s. During the film's four years of production, Lightstorm remained headquartered at a three-story, 26,277-square-foot office building Santa Monica, but Cameron spent most of his time at Playa Vista. If things go as planned, Cameron would consolidate his offices and studio into one location -- down the coast from his Malibu home. His Santa Monica office building is listed for sale for $11.85 million by brokerage CB Richard Ellis Group.