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6/27/17
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A 119.8k sf, Class A office property in Burbank was purchased by a joint venture of Ocean West Capital Partners and Fortress Investment Group. The seven-story building, located at 2901 W. Alameda, north of the 134 Fwy near the intersection with Olive Ave, was sold by Lionstone Investments, a data‐analytics driven real estate investment firm, in a deal said to be worth in the mid-$40 mil range.
The building, constructed in 1981 and significantly renovated in 2005, contains state‐of-the‐art post‐production, broadcasting, screening, and editing facilities which service the dynamic and highly‐concentrated entertainment industry in this region. The building also features above‐standard infrastructure, efficient floor plates, and high‐end finishes.
2901 W. Alameda Avenue is situated immediately adjacent to the headquarters or major studio facilities of the largest and most influential entertainment companies, including Warner Brothers, Walt Disney, NBC Universal, and ABC, as well as the massive base of major entertainment users who are concentrated in the Burbank market.
Located just 0.5 miles from the 134 Fwy, the property has excellent access to the Los Angeles freeway network, and is close proximity to two Metrolink rail stations and the Burbank – Bob Hope Airport.
Bob Safai, Matt Case, and Brad Schlaak brokered the transaction on behalf of the seller. This deal marks the third time that Madison Partners has sold this asset.Trevor Belden and Robert Erickson with Industry Partners were also involved with the transaction.
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