Burbank’s Buena Vista Plaza Sells for $53 Million

Buena Vista Plaza in Burbank’s Media District has sold for nearly $53 million. The roughly 115,000-square-foot office property at 2411 W. Olive Ave. sold for $52.5 million to an undisclosed buyer, according to the seller, Tier Reit Inc. in Dallas. The building, built in 1991, is in the Media Business District. Walt Disney Co. has been the primary tenant in the building, leasing more than 110,000 square feet. Tier said it sold the building as part of an effort “to exit properties located in non-target markets.”