Main Events

-Walt Disney Co. renewed its 110,000-square-foot lease at Buena Vista Plaza, 2411 W. Olive Ave., with landlord Tier REIT Inc. of Dallas. The 11-year deal valued at $51.5 million keeps the entertainment company in the 118,000-square-foot office building instead of consolidating at its studio headquarters.

-Lincoln Property Co. bought three buildings and two parking garages at 303 and 333 N. Glenoaks Blvd. and 300 E. Magnolia Blvd. from Kennedy Wilson Holdings Inc. in Beverly Hills for $84.2 million, or $258 a square foot.

-Ikea bought a 22-acre site where it is underway with plans to build its largest U.S. store for $46 million from Crown Realty and Development Inc. The property, at 805 S. San Fernando Road, will house the 470,000-square-foot home furnishing store.

-A 74,391-square-foot Burbank shopping center traded hands for one of the highest sales prices on a square-foot basis in the city in May. CBRE Global Investors bought the center for $48.6 million, or $650 a square foot, from Invest West and Santa Barbara Capital.

-Amazon Prime, the rapid delivery service operated by Inc., leased 40,000 square feet at 3334 N. San Fernando Road in Glendale from landlord Rexford Industrial Realty Inc. Terms were not disclosed but asking rates at the building are 77 cents a square foot.

A number of deals last quarter helped the Burbank and Glendale office markets continue on the road to recovery...

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