96.5 F
San Fernando
Thursday, Mar 28, 2024

Long-Vacant Building Reanimated by Cartoon Maker

The city of Burbank is becoming home base for Saturday-morning cartoons. Turner Cartoon Network has leased a long-vacant building in the city for a new animation studio. The building, at Third Street and Palm Avenue, has been vacant for more than three years, since Pacific Bell consolidated its operations at another nearby facility. Pac Bell did not relinquish the parking facilities when it sold the building, leaving the space without adequate parking and making it difficult to find an office tenant. “And it was a pretty miserable-looking building, too,” said Bob Tague, community development director for Burbank The new owners, A & G; LLC, renovated the building and struck a deal with Burbank Unified School District to use adjacent property owned by the district for tenant parking. In addition, the new owner also secured public parking spaces from the city for the office tenants’ daytime use, because parking facilities in the downtown area are used mostly for nighttime and weekend visitors. Turner, which is currently housed in Sherman Oaks, will occupy the entire three-story building of about 43,000 square feet. The division decided to make the move because of its growth, said Glen Wong, vice president of real estate. “We’re expanding the number of shows Cartoon Network produces,” he said. At the same time, Wong said, the division was looking for more-distinctive office space than the small facility it has occupied along with Warner Bros.’ animation group in Sherman Oaks. “We certainly wanted to establish ourselves as a presence,” he said. Burbank with its shopping centers, big-box retailers and restaurants has the amenities the company wants to provide for its employees, Wong said. Turner will join DIC Entertainment LP, an animation studio, and Nickelodeon in Burbank. “Between them, they do the lion’s share of Saturday-morning cartoons,” said Tague. Craig Jablin and Stephen Walbridge, brokers with Julien J. Studley Inc., represented the tenant. Doug Marlow and Robert Waller with CB Richard Ellis represented A & G.; Conejo Build-to-Suit Investment Development Services Inc. has inked the first deal at its Conejo Spectrum, a 100-acre development in Thousand Oaks. Telecommunications company Xircom Inc. has signed on for a 200,000-square-foot build-to-suit in the first phase of the development. Conejo Spectrum bounded by Corporate Center Drive, Lawrence Drive and Rancho Conejo Boulevard will include two industrial facilities totaling more than 470,000 square feet, a 97,000-square-foot R & D; building and a 60,800-square-foot office building. In addition, IDS is offering land parcels and build-to-suits. John DeGrinis and Michael Tingus of the Seeley Co. represented IDS in the deal. Ken Ashen and Laura O’Brien of CB Richard Ellis represented Xircom, which is relocating from another facility in Thousand Oaks. Deal With Teeth A dental laboratory has purchased a 22,000-square-foot medical office building in Canoga Park for $1.9 million. DiVinci Studio, currently located in Woodland Hills, plans to occupy the majority of the new facility at 22135 Roscoe Blvd. for its lab and offices. The building is situated on 1.9 acres of land. Cathy Scullin of NAI Capital Commercial represented the seller, 22135 Roscoe/Canoga LLC. Carlo Brignardello of Cresa Partners represented the buyers, Christine and Daniel Materdomini. Post-Production Expansion Eye Candy Post subleased 20,473 square feet of space at 10 Universal City Plaza to expand its online post-production facility. The company had been housed in about 4,500 square feet in the Universal City area. Ari Waldstein at NAI Capital Commercial represented the tenant. Equiva Services LLC, the sublessor, was represented by W. Lawson Martin III of Travers Realty. Industrial Acquisition MLA Investments LLC purchased a 17,812-square-foot industrial building in Reseda for $910,000. Bill Kiefer, J.P. McDonald and Marc Riches at NAI Capital Commercial represented the buyer and seller, Michaelson Family Trust. Westlake Lease First Union Securities, a securities brokerage firm, leased 8,093 square feet of office space at 4550 E. Thousand Oaks Blvd. in Westlake Village as part of an expansion. Mark Leonard of Cushman & Wakefield represented the tenant and Cheryl Richmond of NAI Capital Commercial represented the landlord, Scheu Development Co. Canoga Park Sale John Kashani acquired a 20-unit apartment building in Canoga Park for $800,000. The property at 20755, 207561 and 20765 Vanowen St. was sold by Merrily Saxon. John Collins at NAI Capital Commercial represented Kashani. The seller was represented by Lynette Sohl of Sperry Van Ness. Kids’ Stuff The County of Los Angeles has leased a 13,500-square-foot office building in Van Nuys for its Juvenile Probation Department. The two-story, freestanding building at 14540 Haynes St. will be renovated to include an elevator and code upgrades for occupancy by the agency this summer. Cathy Scullin and Chad Gahr of NAI/Capital Commercial represented both the county and the landlord, Stockdale Holdings, in the transaction. The multiyear lease is valued at $2 million. News & Notes Prudential Insurance Co. leased 4,021 square feet of office space in Camarillo for a sales and service center. The company will occupy a building located in Camarillo Business Center V at 770 Paseo Camarillo. Irwin Hyman of NAI Capital Commercial was selected to represent Pete Rose Ballpark Cafe, which is planning to open four locations in Southern California. The sports-themed restaurant chain, currently with two locations in Florida, is planning its first California unit in Valencia. Staff reporter Shelly Garcia can be reached at (818) 710-2731, ext. 4316, or at [email protected].

Featured Articles

Related Articles