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7/24/20
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A 189k sf creative office and industrial campus in Los Angeles was acquired by a joint venture between Captiva Partners, Avalon Investment Company and a private investor. The price was not disclosed.
Located at 4561 Colorado Blvd, just west of San Fernando Rd, the 7.3-acre property offers immediate access to the 5 and 134 freeways. It is situated 1.5 miles from Disney’s Grand Central campus and Dreamworks’ headquarters in Glendale, three miles from Burbank and 5.9 miles from Hollywood via Los Feliz Blvd.
The front, 146k sf building has a Mid-Century Modern design with two-storied offices, ample warehouse space and a third-level upper deck and community room that offers 360-degree views of Griffith Park, Downtown Glendale, and the Verdugo Mountains. The rear, 43k sf structure features an open, clear-span footprint with high ceiling clearance, ideal for potential future sound stage uses.
Matt Dierckman, David Harding, Greg Geraci and Billy Walk of CBRE represented the buyer and the seller, Western Studio Services, which formerly occupied the facility. Western Studio Services was founded by brothers Scott and Mark Leonard in the 1970s when they began storing sitcom sets in their grandmother’s garage.
“The Burbank, Glendale, Atwater area remains one of the tightest real estate markets in Los Angeles County,” said Harding. “This project is ideal to meet the ever-increasing demand by entertainment companies and the insatiable need to produce more content. This property will provide new options for those companies looking for fresh creative office and creative industrial space.”
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