Warner Bros. has renewed its 456,000-square-foot lease at Studio Plaza in the Burbank Media District, according to the Real Deal.
Todd Doney and Matt Hargrove of CBRE brokered the deal with the entertainment entity. Financial terms were not disclosed regarding the the lease, which expires next year.
Since 2004, Burbank-based Warner Bros. has been leasing 3400 Riverside Drive, where the studio’s longtime financial partner, Australian film company Village Roadshow Entertainment Group, also has offices. That same year, Santa Monica real estate investment company Douglas Emmett Inc. assumed ownership of the Studio Plaza Building, which looms 13 stories high and is adjacent to the Warner Bros. studio lot, Walt Disney Co. and Comcast-owned NBC/Universal Studios.
Burbank has seen much traction of late, from the Lincoln Property Co.’s $125-million sale of Connexion Burbank (where tenants include Turner Broadcasting, Cartoon Network and MTV Networks) to incoming media companies Blizzard Entertainment and Eikon Group. Blizzard, the subsidiary of video game behemoth Activision responsible for the blockbuster “World of Warcraft” franchise, took 54,000 square feet at Worthe Real Estate Group’s 35-acre Burbank Studios last September while Eikon Group, an English post-production company, announced it was setting up shop at 2777 N. Ontario Street last month.