August 31, 1999 |
Fresh from a round of venture capital-raising that netted the company $8.75 million, fast-growing Web "hosting" provider Virtualis Systems Inc. has agreed to lease the 43,000-square-foot top floor of Media Studios North, an office development near the Burbank-Glendale-Pasadena Airport. The company, headed by 25-year-old Chief Executive Chris Lyman, started in a house three years ago before moving to interim facilities in Studio City.
August 11, 2005 |
An affiliate of Time Warner Inc. has agreed to lease an entire office building under construction in Burbank in a 15-year deal valued at more than $100 million. Warner Bros. Entertainment will move out of 150,000 square feet of space that the movie and television company leases in Glendale and owns at its crowded Burbank studio into the second phase of the Pinnacle, a 235,000-square-foot project being built at 3300 W. Olive Ave. Construction is expected to be completed by the end of the year.
January 30, 2001
* Torrance-based Haagen Co. bought a 106,415-square-foot shopping center at 401-407 Pacific Coast Highway in Redondo Beach for nearly $22.4 million from Redondo Shores. The buyer and seller were represented by Adam Christofferson of Marcus & Millichap. * Telecommunications supplier Ericsson signed a seven-year lease for 68,000 square feet of office space at 5717 Pacific Center Blvd. in Sorrento Mesa, near San Diego, in Kilroy Realty Corp.'s Pacific Technology Center.
September 8, 1998 |
Providing further evidence that real estate investors are betting on a Hollywood comeback, Kennedy-Wilson Inc. is buying two of the long-decayed district's biggest office buildings, and an unidentified institution is buying the well-known CNN tower. Kennedy-Wilson last week bought the 12-story building at 7080 Hollywood Blvd. for about $18 million and will pump another $2 million into improvements, said Bill McMorrow, chief executive of the Santa Monica-based company.
March 14, 2000 |
Construction should finally begin this summer on an oft-delayed Burbank Media District office development. The Ventura Freeway-front property near the NBC, Warner Bros. and Disney studios has traded hands for the fourth time in barely eight years. The 4.4-acre triangular site bounded by the freeway, California Street and Olive Avenue is now in the hands of Burbank's biggest privately owned office landlord, Santa Monica-based M. David Paul Development.
April 16, 2002 |
One of Burbank's signature high-rises, the 32-story Tower, is being sold by its Japanese owners for almost $100 million to a real estate investment fund managed by Boston-based Beacon Capital Partners. Beacon is buying the Tower from Tochikogyo USA Inc., an affiliate of Japanese real estate and construction giant Kumagai Gumi Co. Escrow is scheduled to close this week. Walt Disney Co. is the main tenant in the Tower, one of the tallest concrete-framed high-rises in the West.