Entertainment payroll firm inks 20K sf expansion at Burbank’s Empire Center

Los Angeles /
Feb.February 20, 2017 01:00 PM

UPDATED, 1:40 p.m., Feb. 21: An entertainment management firm is expanding its footprint by 20,000 square feet at Walton Street Capital’s Empire Center in Burbank. The nine-year lease is worth about $6.8 million, a source familiar with the transaction told The Real Deal.

Cast & Crew Entertainment Services, a payroll and production management provider, is now the largest tenant at 2300 Empire Avenue, a 364,000-square-foot Class A office building, according to the tenant’s broker on the deal. 

The firm now occupies more than 90,000 square feet at the building, up from 51,000 square feet when it first inked a deal for space there in 2011. It was among the first tenants to sign on. The new lease brings the property to about 80 percent occupancy, the source said.

Other tenants include Playboy Plus Entertainment, which inked its deal in 2012.

Savill Studley’s Scott Katcher represented Cast & Crew in the transaction. Patrick Church and Anneke Greco of JLL represented the landlord.

The annual rent for the deal was not disclosed, but asking rents were reportedly $3.25 per square foot when Playboy signed its lease.

Walton Street, a real estate private-equity firm headed by Neil Bluhm, acquired the property for $55 million in 2009 from Higgins Development, according to Real Capital Analytics.

The global investment firm has invested and managed over $8 billion worth of real estate since 1994, its website shows. Its Los Angeles holdings include the MGM Tower at 10250 Constellation Boulevard and One World Trade Center in Long Beach.


Related Articles

arrow_forward_ios
Westmont's Andy Plant and Westmont Village Westmont Living, iStock)
Senior community nixes industrial development for more residential
Senior community nixes industrial development for more residential
FivePoint Holdings' Dan Hedigan (Fivepoints, Ranch on the River)
FivePoint slashes workforce 29%, posts $37M loss
FivePoint slashes workforce 29%, posts $37M loss
Cedars-Sinai's Thomas Priselac and 3400 Lomita Boulevard (Cedars-Sinai, LoopNet)
Cedars-Sinai pays $70M for Torrance medical offices
Cedars-Sinai pays $70M for Torrance medical offices
IGP Business Group's Matt Ilbak and Moreno Valley Mall (IPG Business Group, Moreno Valley Mall)
Indoor mall in Moreno Valley up for mixed-use makeover
Indoor mall in Moreno Valley up for mixed-use makeover
Michael Shabani with 8400 Melrose Avenue (Google Maps, iStock) Gucci, Melrose
Gucci plans flagship at Melrose & Melrose
Gucci plans flagship at Melrose & Melrose
Argent Retail's Terence Bortnick (LinkedIn, iStock)
OC commercial brokerage Argent Retail Advisors files for bankruptcy
OC commercial brokerage Argent Retail Advisors files for bankruptcy
LuMar's Babak Nehoray with10756 W Wilkins Ave (Avvo, Labyrinth)
Developers plan five-story apartment building in place of single-family home in Westwood
Developers plan five-story apartment building in place of single-family home in Westwood
Artist Guild Hotels' Daniel Hyde and the Palmer Building (LinkedIn, AGI)
Hollywood’s historic Palmer Building could become hotel with rooftop restaurant
Hollywood’s historic Palmer Building could become hotel with rooftop restaurant
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...