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Burbank’s Alameda Media Center Sold

The seven-story Alameda Media Center office property in Burbank has sold for an undisclosed price, according to Madison Partners. The brokerage firm sold 2901 W. Alameda, a nearly 120,000-square-foot Class A property to a joint venture between L.A. investment firms Ocean West Capital Partners of Los Angeles and Fortress Investment Group. Bob Safai, Matt Case and Brad Schlaak of Madison brokered the deal for the seller, Lionstone Investments. Built in 1981, the property was renovated in 2005, according to Madison, and features include post‐production, broadcasting, screening and editing facilities. Lionstone bought the property in 2006 for $46.3 million, or about $386 a square foot. While the sale price was undisclosed at this time, another Burbank office building, the nearly 118,000-square-foot Buena Vista Plaza at 2411 W. Olive Ave., sold for $52.5 million, or about $445 a square foot, in January.

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