Burbank is Exhibit A for Those Who Doubt Entertainment Industry’s Resiliency

Granite Properties recently sold 2600 Olive, a class-A LEED silver-certified 152,834-square foot office building in the Burbank Media District. Pacshore Partners, a Los Angeles-based real estate firm owned by Philip Orosco, acquired the building.

“Granite has owned and managed 2600 Olive for seven years. During that time we’ve made significant updates to enhance the customer experience,” said Jason Purvis, senior managing director, Granite Properties. “The property has benefited from the thriving entertainment industry in the Burbank Media District and growing demand for media content.”

Granite acquired 2600 Olive in 2014, and completed more than $2.7 million in renovations including the lobby, corridors and elevators, bathrooms, garage and parking, signage and building systems. Granite also installed the clean air technology, Needlepoint Bipolar Ionization, in the HVAC system.

“We have been eagerly looking to invest in the Burbank Media District office market and 2600 Olive is a great start. Granite has done a fantastic job of managing and modernizing the asset and we look forward to continuing down that path,” said Philip Orosco, founder and president of Pacshore Partners.

The 10-story building is located on 2600 West Olive Ave. and is 97 percent leased. It is home to media-related companies near TV and movie studios including Warner Bros.

Kevin Shannon, Ken White, Rob Hannan, Laura Stumm and Michael Kolcum of Newmark represented Granite Properties on the sale of the building.

“If anybody ever doubted the resiliency of the entertainment industry or its status as LA’s guiding light, the pandemic has erased any hesitation and Burbank is Exhibit 1-A,” said Hannan. “As the epicenter and backbone of LA’s expansive entertainment infrastructure, Burbank has benefited tremendously from the explosive growth of content providers, streaming or otherwise.”