Brookfield REIT Shells Out $327M for DreamWorks’ Iconic HQ Campus

Insatiable demand for original content due to the pandemic and increased greenlit productions has created a scarcity of studio space throughout Los Angeles, according to Newmark research. With that demand in mind, Brookfield Real Estate Investment Trust recently acquired DreamWorks’ 14.7-acre headquarters campus at 1000 Flower St. in Glendale for $327 million. The seven building 497,403-square-foot creative office campus is 100 percent leased to DreamWorks Animation, a wholly owned subsidiary of Comcast Corporation, through 2035.

Newmark’s Kevin Shannon, Alex Foshay, Ken White, Rob Hannan and Laura Stumm represented the seller, LA Hana OW, an entity of Hana Asset Management and OceanWest Capital Partners.

“This opportunity combined many of the investment themes currently driving successful office market trades in Los Angeles,” said Shannon. “This DreamWorks HQ opportunity offered credit, WALT and a content creation tenant with studio space which resulted in extraordinary interest as shown by nearly 30 separate buyer tours.”

The property features onsite commissary, 165-seat theater, motion capture studio, recording studio, green rooms, medical clinic, library and helipad.

“For over 24 years, it (the campus) has provided DreamWorks with critical recording and animation infrastructure within a lush park-like environment that invokes inspiration and innovation,” Stumm adds. “The opportunity to acquire a critical media asset of scale is extremely rare, as indicated by the strong interest in this investment.”