Comcast Purchases Universal's 'Black Tower' Building
The media giant reportedly paid about $420 million for the towering Burbank office building, of which it is already an anchor tenant.
Comcast Corp. has purchased 10 Universal City Plaza for its NBCUniversal division, The Hollywood Reporter has confirmed.
NBCUniversal is already an anchor tenant in the building, occupying more than half the total 771,374 square feet of Class A office space in the 36-story building. The building is known in Hollywood as the "Black Tower."
The office building, which is directly adjacent to the Universal Studios Hollywood theme park and Universal Pictures headquarters, sold for approximately $420 million, according to The Los Angeles Times, which reports that Normandy Real Estate Partners closed on the deal Tuesday.
Normandy, based in Morristown, N.J., has a portfolio that includes more than 15 million square feet of commercial assets, four hotels and numerous land-development sites.