-Worthe Real Estate Group’s Tower Burbank has attracted iHeartRadio. The Internet radio streaming service is in negotiations to lease 120,000 square feet at the 487,000-square-foot office building at 3900 W. Alameda Ave. in Burbank. The company would move from its home at 3300 W. Olive Ave., owned by Hudson Pacific Properties Inc. Asking rates at the Tower are about $3.50 to almost $4 a square foot.
-The DreamWorks Animation SKG Inc. campus was sold in July only six months after the studio initially sold it. SunTrust Banks Inc. in Atlanta sold the Glendale headquarters campus, at 1401 Flower St., for $215 million to Griffin Capital Essential Asset REIT in El Segundo. SunTrust bought the campus from the studio for $185 million.
-Applebee’s International Inc. is moving its headquarters to Glendale. Parent DineEquity Inc. will relocate Applebee’s headquarters from Kansas City, Mo., into the restaurant operator’s corporate offices at 450 N. Brand Blvd. About 10 percent to 20 percent of the 220 employees in Kansas City will relocate.
-CBRE Global Investors Ltd. sold the Burbank Empire Center office buildings for $80.4 million in August to UBS Realty Investors. The two-building property, totaling 230,000 square feet at 2350 and 2400 Empire Ave., was fully leased to Deluxe Digital Studios, Allianz Insurance and others.
-Los Angeles County’s largest credit union, Logix Federal Credit Union, decided to leave its Burbank headquarters of 30 years for a new 170,000-square-foot facility it plans to build in Santa Clarita. The credit union had been in 75,000 square feet at 2340 N. Hollywood Way but outgrew the space.
Burbank and Glendale’s office lease markets had ups and downs in the third quarter but both saw strong investment sales...