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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.

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