Sprint

sprint/SFVjune/bb inches Long-distance carrier Sprint Communications Co. L.P. has purchased a parcel in the new Flower Street Business Park in Burbank, and will have a customized 50,000-square-foot industrial facility developed on the site. Sprint will house a switching station within the $3 million facility to be located at 100 Flower St., which should be ready for occupancy in the summer of 1998. Flower Street Business Park developer Anses Joseph Co., headquartered in Tarzana, will develop the facility on a fee basis for Sprint. Demand from the media-entertainment field in particular has reduced vacancies at Burbank-area commercial buildings to minuscule levels, and most of the area’s available industrial facilities have also been spoken for. Grubb & Ellis’ Jim Linn and Michael Davin, the Flower Street park’s exclusive marketing agents, noted that seven buildings are under construction at the development, two of which are already leased and one of which has been pre-sold. The developer has decided to offer the other buildings only for lease. David Abell of Arledge/Power Real Estate Group in Dallas represented Sprint in the land acquisition/build-to-suit negotiations. –30–