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Tuesday, Oct 3, 2023

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By SHELLY GARCIA Staff Reporter Dolby Laboratories Inc. has the kind of problem a lot of other companies might envy. With the emergence of high-definition television and the increasing popularity of DVD, Dolby’s engineering division has grown out of its space in Hollywood and acquired a building in Burbank. The company’s new digs, at 3601 W. Alameda Ave., is a two-story building with about 20,000 square feet more than twice the 8,000 square feet it has occupied for the past five years. Dolby paid $3.7 million for the building, which had been vacant for nearly two years. “We had 11 people in L.A. when we purchased this building five years ago,” said Dolby Vice President David Gray. “We’re now running 26, and we have a few more people to hire.” The L.A. facility serves as the company’s engineering offices, providing technological support to the film industry, which uses Dolby equipment for recording, and to theaters, which use Dolby sound. The office will also be used for research and development for implementing HDTV. HDTV broadcasting is slated to begin in some cities this spring and across the country by 2002. Dolby Digital has also been made the mandatory audio format for DVD, contributing to the company’s growth as well. Jim Lindvall and Chris Baer, brokers with Grubb & Ellis, represented Dolby in the acquisition. Joel Frank with First Property represented the seller, which was the AFL-CIO. Poly-Tainer consolidates Poly-Tainer Inc., a manufacturer of injection molding for bottles and other containers for toiletries and related products, has acquired a Simi Valley building and has plans to consolidate its operations at the new headquarters facility. The 94,860-square-foot building is located on nine acres at 440 Los Angeles Ave. It will house 225 employees, currently located in three facilities in Simi Valley. The facility includes 15,000 square feet of office space in addition to the manufacturing area. Poly-Tainer, which paid $4.9 million for the property, was aided in the purchase by a $1 million, low-interest loan from the State Waste Management Development Department because the company utilizes recycled materials that otherwise end up in landfills. John DeGrinis and Michael Tingus at the Seeley Co. represented Poly-Tainer. Bob Kahn at CB Richard Ellis represented the seller, Ametek Inc. Move to Moorpark Viking Electronics, a manufacturer of electrical connectors for the aerospace industry, has acquired a 42,575-square-foot, build-to-suit site in Moorpark, according to John DeGrinis and Michael Tingus, who represented the company. Viking will consolidate its operations, currently located at two facilities in Chatsworth and Van Nuys, at the new location. The company expects to expand its staff from 75 to 110 people in the near future. The company paid $2.85 million for the facility, located at 5455 Endeavor Court. Bram White and Mitch Conlee at Daum Commercial Real Estate Services represented the seller, Westamerica of Beverly Hills. New branch opening Sherman Oaks-based American Pacific State Bank is slated to open a new branch at 4605 Lankershim Blvd. in North Hollywood after leasing 5,000 square feet of space on the ground floor of the building. The new branch will open for business during the second quarter of this year. David DeFore of CB Richard Ellis represented the tenant. The landlord, VDA Properties, was represented by Robert Erickson of Lee & Associates in the deal, valued at over $1 million. Entertaining a move Production company GRB Entertainment signed a lease for 15,000 square feet of space at 13400 Riverside Drive in Sherman Oaks. The company will be relocating from Studio City. Robert Erickson of Lee & Associates represented the landlord, 13400 Riverside Drive Ltd., in the transaction, valued at over $2 million. Trevor Belden and George Thomson of Lee & Associates represented the tenant. News and notes Island Studios Inc. has acquired a 51,400-square-foot facility at 1845 W. Empire Ave. in Burbank for $5 million, according to Ron Kassan and Bill Birtell of Beitler Commercial Realty Services, who represented the buyer and seller, Empire Burbank Studios. A Chatsworth industrial building was included in a recent portfolio sale to RREEF Funds, a pension fund real estate investment group. The building, at 9425 Canoga Ave., was part of a portfolio of six buildings totaling 394,947 square feet. The other buildings are located in Corona and Carlsbad. Jay Borzi and Steve Silk of Cushman & Wakefield represented RREEF. The property was purchased from a joint venture of Legacy Partners and Whitehall.

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