June 13, 2017 Comments Off on New York Life Acquires Burbank Asset for $133M Views: 537 California News, Los Angeles

New York Life Acquires Burbank Asset for $133M

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Burbank Empire Center was acquired for more than $133 million by New York Life Real Estate Investors. The San Francisco-based real estate investment arm of New York Life Insurance Co. purchased the more than 350,000-square-foot property from Chicago-based Walton Street Capital.

Built in 2009, the Class A office asset is located in Burbank’s Media North submarket at 2300 W. Empire Ave., and was acquired by Walton Street in 2011 for $45 million.

Among the tenants at the building are Cast & Crew Entertainment Services, which occupies nearly 90,300 square feet following a recent 20,000-square-foot expansion, as well as Point.360 and Modern VideoFilm.

The property will be managed by Lincoln Property Company, with JLL handling the leasing.

Read more at San Fernando Valley Business Journal

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