The 14.7-acre headquarters campus in Glendale leased by DreamWorks has sold for $327 million. The sale, which was first reported in November, has now closed.
DreamWorks Animation, a wholly owned subsidiary of Comcast Corp., has leased the entire property through 2035.
Brookfield Real Estate Investment Trust purchased the campus from LA Hana OW, an entity of Hana Asset Management and OceanWest Capital Partners.
Newmark Group Inc.’s Kevin Shannon, Alex Foshay, Ken White, Rob Hannan and Laura Stumm represented the seller in the transaction.
“This opportunity combined many of the investment themes currently driving successful office market trades in Los Angeles,” Shannon said in a statement. “This DreamWorks HQ opportunity offered credit, (weighted average lease term) and a content creation tenant with studio space which resulted in extraordinary interest as shown by nearly 30 separate buyer tours.”
The campus, at 1000 Flower St., consists of 497,403 square feet spread across seven buildings. It also has a 165-seat theater, motion capture studio, recording studio, green rooms, medical clinic, library and helipad.
“Situated on nearly 15-acres within Los Angeles’s thriving media district, the campus is one of the most iconic headquarters destinations in Los Angeles,” Stumm said in a statement. “For over 24 years, it has provided DreamWorks with critical recording and animation infrastructure within a lush, park-like environment that invokes inspiration and innovation. The opportunity to acquire a critical media asset of scale is extremely rare, as indicated by the strong interest in this investment.”
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