Warner Bros. Worldwide Television Signs $20 Million Burbank Lease (Exclusive)
Warner Bros. Worldwide Television has signed an 11-year lease with landlord Worthe Real Estate Group for the entirety of a three-story office building in Burbank.
The $20 million lease for the 43,000-square-foot property at 4411 W. Olive Ave. closed in December. The marketing division that promotes Warners Bros. Television series will move into the new offices this summer. The West Olive building is across the street from the studio's lot.
A Warner Bros. spokesperson confirmed the deal and said that the TV marketing department will be consolidating three separate offices located off the lot into the new digs.
The West Olive building had long been occupied by postproduction firm Modern VideoFilm. But the company had outgrown the space and left in January, moving into new offices elsewhere in Burbank.
Warner Bros. has an existing relationship with Burbank-based landlord Worthe Real Estate—it leases space in some of the company's other developments—and last spring Warners inked a 10-year lease on behalf of DC Entertainment at Worthe Real Estate's 2900 W. Alameda Ave. property.
“We are happy to continue our long-standing relationship with Warner Bros.," said Worthe Real Estate co-owner Jeff Worthe.
Carl Muhlstein, executive vp at Cushman & Wakefield, represented the landlord; Matt Hargrove of CBRE Group represented the tenant.