Comcast Subleases 67K sf of Offices and Studios in Glendale

Comcast has subleased a 66,700-square-foot office and studio in Glendale to a New York-based production service firm.

The Philadelphia-based telecommunications giant subleased its former esports offices at 1840 Victory Boulevard to Switch, the Commercial Observer reported, citing a report from Savills.

Terms of the sublease, just east of the Burbank Western Wash and a few blocks north of Los Angeles Equestrian Center, were not disclosed.

The Switch, acquired last spring by India-based Tata Group, will move to Glendale from its offices at Worthe’s The Pointe campus in Burbank.

The newly renovated property on Victory Boulevard is leased through February 2032 to Comcast Spectacor, a subsidiary that manages sports and entertainment venues and franchises.

Comcast was expected to invest more than $12 million on improvements, according to the Observer. The building has two soundstages, two production studios and offices.

Comcast put more than 500,000 square feet of offices on the market for sublease nationwide, including the property on Victory Boulevard, since last fall, according to media reports.

The building had also housed Comcast’s rebooted G4 video game television network channel, which shut down in November 2022, an unidentified source told the Observer.

Nuveen, a unit of New York-based TIAA, bought the property in 2021 for $45.1 million. It’s near the Walt Disney Company headquarters, Netflix’s animation operations and Warner Brothers’ studios, all in Burbank.

Available sublease space in Greater Los Angeles was 10.8 million square feet in the second quarter, a 400,000-square-foot increase from the previous quarter and a 20 percent jump from the year before, according to the Savills report.

— Dana Bartholomew