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Newmark Arranges $37M Sale of Burbank Office/Industrial Campus

Newmark Arranges $37M Sale of Burbank Office/Industrial Campus

Montana Avenue Capital has purchased 2777 North Ontario Street, a 127,000-square-foot office and industrial campus in Burbank, CA. Newmark represented the seller, a JV between Washington Capital Management and SSV Properties in the $37 million transaction. Newmark’s David Milestone and Brett Green also arranged the acquisition financing on behalf of the buyer.

“The acquisition of 2777 Ontario is another example of private capital looking for an attractive entry basis in a desirable office market,” said Kevin Shannon who led the Newmark team that included Ken White, Rob Hannan, Laura Stumm and Michael Kolcum. “In addition to its highly improved office space, the asset includes a uniquely specialized industrial component in one of the nation’s tightest industrial markets.”

The property is a newly renovated, two-story campus that is 71% leased to a roster of entertainment and media-related companies. New property features include revitalized common areas, updated HVAC and MEP systems and new landscaping.

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Inside The Story

Montana Avenue CapitalSSV PropertiesNewmark's Kevin Shannon

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

  • ◦Sale/Acquisition
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