X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BURBANK, CA-Warner Bros. Entertainment will occupy all of the 230,000-sf second phase of M. David Paul’s Pinnacle office development in a 15-year, $100-million lease that is one of the biggest office leases in Los Angeles County this year. Carl Muhlstein of the Downtown Los Angeles office of Cushman & Wakefield, who represented Santa Monica-based M. David Paul, tells GlobeSt.com that the lease will represent both a relocation and an expansion for the Warner Bros. affiliate, which now occupies 150,000 sf in Burbank and nearby Glendale.”They’re spread out in a number of buildings, so this gave them a chance to consolidate into one building,” Muhlstein says. The move will also free some space on the Burbank lot that Warner Entertainment now occupies, he adds. Warner Bros. Entertainment, whose new space is expected to be ready later this year, was represented by Cushman & Wakefield’s Matt Hargrove.The Warner Entertainment space will be in Phase II of the Pinnacle project, a two-building, 625,000-sf office project with restaurants and a health club in the heart of the Burbank Media District. The buildings, at 3300 and 3400 W. Olive Ave., include a first phase of 395,000 sf that is 90% leased, and the 230,000-sf second phase now under way. The Warner Entertainment lease at Phase II of the Pinnacle is one of the largest in Los Angeles County this year if not the largest, according to Muhlstein. Some large office leases in L.A. County last year approached the size of this one, but few if any this year approach the size of the Pinnacle deal. Relatively little new space is under construction in Burbank, in the Media District or elsewhere, other than the M. David Paul project. One building of about 130,000 sf is under way on Lake Avenue and is already more than 50% preleased, notes Muhlstein, who says that few if any office development sites are likely to be entitled soon in Burbank.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.