Central Burbank Location Bodes Well for Post-Production Asset

A fully leased post-production property in Burbank, Calif. recently sold to a partnership between Cruzan and Independencia Asset Management for $37.4 million. The building, located at 2130 N. Hollywood Way, is a single-story 95,000-square-foot post-production facility on 4.4 acres. The campus, which was completed in 1965 and last renovated in 2017, is fully occupied by Deluxe Media Inc., a post-production, distribution and entertainment asset management company.

CBRE’s Mike Longo, Todd Tydlaska and Sean Sullivan represented the seller, Strategic Office Partners. CBRE’s Greg Grant and Clayton Matsuda facilitated the loan on behalf of the buyer.

“The buyer was attracted to the property’s flexible standalone characteristics and abundant infrastructure coupled with its central location within Burbank,” said Longo. “Burbank has been one of the best-performing submarkets in Greater Los Angeles over the last couple years, propelled by the growth within the entertainment business and demand for streaming content.”

Occupier demand in Greater LA has demonstrated a robust rebound, particularly compared with other major metro areas. According to CBRE’s Pulse on U.S. Office Demand, Los Angeles’ leasing activity as of June 2021 was at 40 percent above pre-pandemic levels (2018/2019 average) and well above the national average. Leasing remains most active in submarkets such as Culver City and Burbank that boast resilient content production-oriented tenants and creative office space.