Dreamworks’ Glendale Campus To Be Sold (Again) For $327M
![Dreamworks Animation campus](https://news7g.com/wp-content/uploads/2021/11/dreamworks_animation_campus-780x470.jpg)
The present house owners acquired the campus in 2017 from Griffin Capital for $297 million, and put it up on the market earlier this year. They have been anticipated to promote it for roughly $350 million, Bisnow reported on the time.
The campus, which is situated at 1000 Flower Avenue in Glendale, was in-built 1997 in a mock-Tuscan type. In early 2015, a cash-strapped Dreamworks sold it for $185 million to Suntrust Banks, which promptly flipped it, selling it on to Griffin for $215M.
Because the demand for content material (animated and in any other case) surges, the demand from manufacturing corporations and property buyers for studio area is rising too. Final 12 months, Netflix leased 171,000 sq. ft in Burbank, subsequent to Glendale, for its younger animation studio. Final month, it was introduced that Warner Bros. will promote its Ranch Studio in Burbank, then lease it again from its new house owners after a serious redevelopment.
Brookfield, a serious industrial property proprietor in Southern California, is new to the studio market.