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Thursday, Nov 30, 2023

Glendale Campus Sells for $18.7 Million

Two Glendale office buildings, at 1011 and 1015 Grandview Ave., have sold to a reality television production company currently located in Van Nuys. The Grandview Office Campus totals nearly 111,000 square feet and is located on 3.5 acres between San Fernando Road and West Glenoaks Boulevard, north of the 134 freeway, according to real estate data provider CoStar Group Inc. It includes a three-story parking structure and 500 parking spaces. Bunim/Murray Productions, which has been creating reality TV since its “The Real World” debuted in 1987, paid $18.7 million for the office campus. The company currently produces several high-profile shows, including “Project Runway” and “Keeping Up With the Kardashians,” according to its website. Bunim/Murray purchased the Grandview site to make it its corporate headquarters, said Jeff Puffer, senior vice president at Delphi Business Properties Inc. in Van Nuys, who represented the production company. Bunim/Murray plans to revamp both buildings as creative office space, he said. “The result will create one of the best industrial-office building repurpose projects in the San Fernando Valley,” Puffer said. The Glendale property, strategically located blocks away from both DreamWorks and Disney studios, had been listed for $17 million, according to CoStar. Seller Atlantic Pearl Investments Inc. of West Hollywood purchased the campus for about $11 million just over a year ago.

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