DreamWorks Campus DreamWorks Campus

A foreign investor has acquired the DreamWorks Campus in Glendale for $290 million. A joint venture between Chinese investor Hana Asset Management and OceanWest purchased the property from Griffin Capital Co., which acquired the 460,000-square-foot office campus in 2015 for $215 million. Asian capital is highly attracted to large, single-tenant office assets in West Coast gateway markets, and the brokerage team, led by Kevin Shannon, West Coast Capital markets president at NKF, assumed that the property would go to a foreign buyer early on in the sale process.

“This offering was never broadly launched,” Shannon tells GlobeSt.com. “NKF has had tremendous success in 2017 selling several large single tenant deals, which never had a formal broad marketing program. These include the Urban Union and Dexter Station sales in Seattle and Centre 425 in Bellevue, which were class-A office assets leased to Amazon and Facebook totaling $868 million. We have another major single tenant office deal under contract currently on the West Coast off market as well. Over 80% of the potential buyers on these deals were foreign buyers primarily from Asia and Europe. These buyers love looking at these types of assets off market. We knew Hana would be an aggressive buyer for DreamWorks given our extensive recent experience with similar profile deals. We always expected the buyer would be foreign for DreamWorks.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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