July 24, 2015
DreamWorks Animation’s Glendale campus has traded for the second time in six months. Griffin Capital Essential Asset REIT bought the 14.7-acre complex for $215 million from SunTrust Banks, which bought the headquarters from the the entertainment firm in February for $185 million.
DreamWorks holds a lease on the property that costs the company $13.2 million annually. It initially sold its home base in part because of financial problems.
Griffin Capital, based in El Segundo, owns 71 office and industrial assets totaling 16.4 million square feet. CBRE brokered the purchase of the campus.