search

The Real Deal Logo

Trending

Tides’ original investors may be wiped out by preferred equity dealTides’ original investors may be wiped out by preferred equity dealLA court strikes down SB9 law allowing single-family lot splitsLA court strikes down SB9 law allowing single-family lot splitsFort Lauderdale crane collapse victim seeks over $50M in damagesFort Lauderdale crane collapse victim seeks over $50M in damagesLandlords to Rent Board: The Bronx will burn againLandlords to Rent Board: The Bronx will burn again
Commercial
Los Angeles

Let’s get loud: Formosa sound company expands into Burbank

The firm has opened its 7th office in LA

Hanhai Civic Plaza at 250 E. Olive Ave. in Burbank (Credit: Cushman & Wakefield)
Hanhai Civic Plaza at 250 E. Olive Ave. in Burbank (Credit: Cushman & Wakefield)

Sound company Formosa Group has opened its seventh office in Los Angeles, signing a lease at the Hanhai Civic Plaza in Downtown Burbank.

Formosa inked the seven-year deal with the landlord, Creative International Investment. The company will take 8,800 square feet in the four-story office building, located at 250 E. Olive Ave.

Design firm Rethink Leisure & Entertainment also signed a lease at that location, for 4,354 square feet. Lease terms were not disclosed.

Formed in 2013, Formosa is a post-production sound company that works on feature films, music, gaming and home entertainment. It has been involved with “Game of Thrones,” and “Star Trek Beyond,” among others. The company moved headquarters in 2016 to Hollywood 959, a creative complex by developer Jerry Snyder. Formosa took 30,000 square feet at that location in Hollywood.

Sign Up for the undefined Newsletter

Rethink’s portfolio includes a handful of projects in Dubai, as well as a mixed martial arts gym. Clients listed on Rethink’s website include Walt Disney Company, Universal Creative and Marvel.

For the Formosa lease, Creative International was represented by Cushman & Wakefield’s Katie Bernhisel and Dillon Moscone. Cushman’s Mark Robinson and Arlene Sommer represented Formosa. Cushman also manages the property.

Madison Partners’ Chris Keller and Chris DuMont represented Rethink for its lease.

Hanhai Investments acquired the 80,000-square-foot office building in 2014, according to Real Capital Analytics. Hanhai paid $22 million to Cusumano Real Estate Group in the deal. The property had previously been called Burbank Civic Plaza.

Tags
BurbankCommercial Real EstateCushman & Wakefield