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Tuesday, Oct 3, 2023

Valley talk

As new office projects for the Tri-Cities hit the drawing board, the rumor mill has been spitting out names of prospective tenants. And one tenant on everyone’s tongues is Walt Disney Co. According to word on the street, the Burbank-based entertainment giant is reportedly leasing space in M. David Paul and Associates’ proposed 650,000-square-foot office campus in North Burbank and it’s also reportedly in deep discussion with the Maguire Partners development company to become a tenant in their proposed 1.1-million square foot Glendale Center project. Disney, for its part, has no comment on the speculation, according to a spokeswoman. Brokers, developers and lawyers who traditionally work with Disney aren’t talking, either. One Valley broker swore that Disney would “have my head on a platter, then serve it back to me” if he squealed. Disney already is spread throughout Glendale and Burbank, occupying 4.5 million square feet of leased and owned space in the Valley. Some skeptical observers think that even the ubiquitous mouse can’t occupy premium office space in the Tri-Cities. “They’re always the obvious candidate whenever there’s talk of a new project,” said William Birtell, who works at Beitler Commercial Realty Service’s Valley office. “But even Disney will eventually run out of people they can put places.”

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