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6/29/18
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A two-building, 5k sf property in Burbank that includes 10 office suites and a two-bedroom live/work unit, has sold for $3.35 mil. The property, which is located a short walk from The Walt Disney Studios and Providence Saint Joseph Medical Center, was delivered vacant.
Built in the 1920s and located at 2222 West Olive, the nearly 4k sf office portion of the property features office suites, a reception/waiting area, large conference room, kitchen and two bathrooms. Situated at a corner location just off of Buena Vista St, the property is one-half mile from the east/westbound 134 Freeway ramps.
Stacy Vierheilig-Fraser of Charles Dunn Company represented the buyer, an entity of boutique talent agency, Osbrink Agency that will use the space as its headquarters. The seller, La Papoose LLC, was repped by Stevenson Real Estate.
“As rental rates continue to rise, small- to mid-size users are looking to buy buildings in order to have more stability in real estate costs over the long-term,” said Vierheilig-Fraser. “This property offered the buyer a unique, highly improved space with good parking that fit well with its culture and is ideally located in the heart of the Burbank Media District.”
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