Worthe Real Estate Group, a Santa Monica-based development and property management company, has begun construction on the 30-acre Warner Bros. Ranch Lot in Burbank. Its commencement reportedly marks the largest sound stage development in the nation.
Already fully leased to Warner Bros., the $500 million project will consist of a 926,000-square-foot total campus, including 16 soundstages, a parking structure, a commissary, mill space and a 326,000-square-foot office complex.
Stockbridge Capital Group is the project’s equity partner.
“This is a big milestone for us, and we couldn’t be more excited for what this project means for the city of Burbank, our long-standing relationship with Warner Bros. and the entire business community in the greater Los Angeles area,” Jeff Worthe, president of Worthe Real Estate Group, said in a statement. “This project will transform the area and usher in a new stage of growth for this vibrant community.”
The project’s current estimated completion date is the first quarter of 2026.
Last year, Worthe Real Estate completed Second Century, an 800,000-square-foot expansion of the Warner Bros. headquarters in the Burbank Media District.
Designed by prolific architect Frank Gehry from Gehry Partners LLP, Second Century consists of two LEED-certified office buildings located on the southernmost portion of The Burbank Studios Lot, adjacent to the Warner Bros. main lot. The buildings stand seven and nine stories in height, and just last month, received $475 million in financing.
Worthe Real Estate currently has 13 buildings in Burbank and the firm continues to be a leader in providing creative office and studio spaces for the entertainment industry.