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Thursday, Mar 28, 2024

Retail-Residential Site Ready to Roll in Burbank

The Talaria at Burbank, a $200 million mixed-use residential development anchored by a Whole Foods Market, is set to break ground this week at 3401 W. Olive Ave. in the heart of the Burbank Media District. The 425,000-square-foot project by Burbank developer Cusumano Real Estate Group won approval from the City Council a year ago. The residences are expected to open by January 2018, with the grocery outlet completed by the middle of that year. The Talaria will comprise 241 luxury apartment units above a 43,000-square-foot upscale grocery outlet. Plans call for 84 one-bedroom, 123 two-bedroom and 33 three-bedroom units in the five-story project, which will be chock-full of high-end amenities designed to attract entertainment industry tenants. Those extras include a koi pond, outdoor barbeque, lap pool, 35-seat screening room, fitness center, massage center and blow-dry bar. The LEED certified building will employ solar power and solar water heating, offer multiple electric car charging stations and feature a resident bike shop on site. The Talaria will sit on 3.8 acres across the street from the Warner Music Group headquarters. Not far away are Burbank Studios (formerly NBC Studios), Warner Bros. Studio and the headquarters of Walt Disney Co. It is the largest project to date for Cusumano, a family-owned developer founded in 1959. The company is involved in other developments as well, according to Michael Cusumano, the firm’s managing director. Biotech Expansion Atara Biotherapeutics Inc., a biopharmaceutical company focused on therapeutic innovations for patients with unmet medical needs, is expanding the footprint of its research facility in Westlake Village. Atara, headquartered in South San Francisco, was spun off in 2012 from biotech giant Amgen Inc. The company renewed an existing lease at 4360 Park Terrace Drive and took an additional 10,000 square feet in the building, where it will occupy a total of more than 15,000 square feet on two floors, according to real estate data provider CoStar Group Inc. The expansion is expected to be complete by the first quarter. Atara took over development of six pipeline drugs from Amgen, primarily focusing on kidney and cancer treatments. It has received an undisclosed dose of capital from prominent Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers. Owner-User Commercial Display Systems, a company that makes doors for the refrigerator and freezer cases found in convenience and grocery stores, has spent nearly $4.5 million on a new headquarters at 17341 Sierra Highway in Santa Clarita. The company, now based in San Fernando, plans to move into its new 45,500-square-foot manufacturing facility in February. The Santa Clarita site will allow the manufacturer to dramatically increase its capacity and production capabilities, said David Hoffberg, a broker with Delphi Business Properties Inc. in Van Nuys. He handled the transaction on behalf of the buyer; the father-daughter team of James and Lauren Ebanks, of Realty Advisory Group’s Valencia office, represented the seller, a private family trust. The Sierra property formerly housed Morton Manufacturing, which makes engine bolts for the aerospace industry, Hoffberg said. Morton, which is also expanding its business, purchased vacant property in Lancaster and built a facility there, where it moved earlier this year. Hospital Tower Construction is underway on a $110 million, six-story tower at the Henry Mayo Newhall Hospital. The 160,000-square-foot addition will connect to an existing 238-bed hospital and trauma center at 23845 McBean Parkway in Valencia. The tower will add 116 beds to the facility, including a maternity ward, along with a rooftop helipad, kitchen and dining facility. HMC Architects of Los Angeles is partnering with Bernards of San Fernando on the project, which is expected to be completed in 2018. Staff reporter Karen E. Klein can be reached at (818) 316-3123 or at [email protected].

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