Warner Bros. Trades Burbank Studios in Sale-Leaseback Deal

Worthe Real Estate Group, QuadReal Property Group and Stockbridge Capital Group have purchased The Burbank Studios, a 27-acre film studio campus, from Warner Bros. Discovery for an undisclosed sum. Published reports put it at $375 million. The complex is located in Burbank’s Media District and totals 685,000 square feet, including eight existing sound stages, production and creative office space.

Warner Bros. provided seller financing as part of the transaction and will be the primary tenant of the property via a sale-leaseback. The property’s significant footprint is entitled for further development of sound stages and production space.

Longtime headquarters for NBC Universal, the property was originally sold to Worthe and Stockbridge in 2007. In turn, Worthe and Stockbridge sold it to Warner Bros. in 2023 in a complex transaction that included the lease by Warner Bros. of the adjacent 800,000-square-foot Second Century towers, which were developed by Worthe and Stockbridge.

In addition, as part of the original transaction, Worthe and Stockbridge purchased The Ranch Lot from Warner Bros., which later signed a lease for 926,000 square feet of new office space and sound stages at that property.