Warner Bros. Cuts $1B Deal for Burbank Studios, Tower, Ranch Lot
Warner Bros. is expanding its footprint in Burbank via the acquision of the Burbank Studios and lease of a two-building office development slated for completion 2023. The multi-phased project has an estimated combined value of more than $1 billion.
Jeff Worthe and Stockbridge Real Estate Fund are selling the Burbank Studios asset, though they plan to keep roughly seven acres to build the towers for Warner Bros. The new space encompasses an 800,000-square-foot complex encompassing a seven-story building and a nine-story structure. Construction of the Frank Gehry-designed projects are expected to begin in the fall.
Burbank Studios delivers additional office space, eight soundstages, a mill building and a commissary. The arrangement will allow Warner Bros. to consolidate off-lot workers to Burbank Studios, and provides expansion opportunities on a contiguous site.
JLL’s Carl Muhlstein advised Burbank Studios in the transaction.
Warner Bros. is also divesting the historic North Hollywood Way Ranch lot facility.
Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services.
In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company.
In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix.
Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator.
Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements.
Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.
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