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JUN
23
3 YEARS

DC Entertainment Readies Move to New Burbank Offices Near Warner Bros.

The Pointe
Courtesy of Worthe Real Estate Group

Details have emerged on DC Entertainment’s planned relocation from New York to Burbank -- a move that is part of parent Warner Bros. Entertainment’s continued strategy of working more closely with the Hollywood division of the iconic comic book company.

DC will move into its new Burbank headquarters, at a 14-story office tower called the Pointe, in mid-August. The company’s new home at 2900 W. Alameda Ave. is less than a mile from Warner Bros. Studios.

Warners inked a 10-year lease on behalf of DC in April. The deal for 35,000 square feet with landlord Worthe Real Estate Group is valued at roughly $16 million, according to sources with knowledge of the Burbank office market.

The headquarters will accommodate staffers from the company’s offices in New York and San Diego. Some have already made the move to Los Angeles and others are expected to relocate by August. However, DC Entertainment’s publishing division, DC Comics, will remain at the company’s 1700 Broadway offices in New York.

DC Entertainment will occupy the entirety of the Pointe’s second floor; the space is currently under construction. Warners has provided DC Entertainment with a temporary office nearby, at 3400 Riverside Drive, which has been occupied by company staffers since last year. DC will vacate that property once its new digs are ready to be occupied.

DC is best known for its Superman and Batman characters; its other superheroes include Wonder Woman, Aquaman and Green Lantern, the latter of which was revived in a big screen adaptation that opened June 17. Warners has owned DC since 1969 and in 2009 restructured it to better compete with rival Marvel Entertainment, now a unit of Walt Disney Co. DC Entertainment announced its move to Burbank in September.

The new headquarters will house most of DC Entertainment’s leadership team, which works with Warners on film, television and interactive products.  It also will be home to a group that handles the company’s collectible merchandise, such as action figures, statues and prop replicas. DC Entertainment President Diane Nelson will have an office at the headquarters space, and retain another at the Warners lot. However, it is unclear how many people will work out of the offices at the Pointe.

A DC Entertainment spokeswoman confirmed the move to the property, but declined to discuss how many employees would be based there.

DC isn’t the only media company relocating to the Pointe. Local public television station KCET-TV, which sold its landmark Hollywood studio to the Church of Scientology in April, has signed an 11-year deal for 55,000 square feet at the office tower. That transaction is valued at roughly $25 million. KCET will move into its new headquarters by April.

“We planned this building and designed it to attract entertainment industry companies and we are excited to have them both come into the project,” said Jeff Worthe, who co-owns his namesake Burbank-based Worthe Real Estate Group and represented his company in the transaction. He declined further comment. The Pointe, which was built in 2009, is situated on part of the former NBC lot, a portion of which Worthe bought in 2006.

Matt Hargrove of commercial real estate brokerage CB Richard Ellis Group, who represented Warners in the deal, declined to comment. The landlord was also represented by Todd Doney of CB Richard Ellis, who also declined to comment.


 
Email: Daniel.Miller@THR.com
Twitter: @DanielNMiller