A partnership of Cruzan and Independencia Asset Management paid $37.4 million for a post-production facility in Burbank, according to brokerage CBRE Group.
The property at 2130 N. Hollywood Way is fully occupied by Deluxe Media Inc., a post-production and distribution company for film studios and production houses. The 95,000-square-foot building sits on 4.4 acres.
CBRE’s Mike Longo, Todd Tydlaska and Sean Sullivan represented the seller, Strategic Office Partners, while the brokerage’s Greg Grant and Clayton Matsuda facilitated the loan on behalf of the buyer.
“The buyer was attracted to the property’s flexible stand-alone characteristics and abundant infrastructure, coupled with its central location within Burbank,” Longo said in a statement. “Burbank has been one of the best-performing submarkets in Greater Los Angeles over the last couple years, propelled by the growth within the entertainment business and demand for streaming content.”