BURBANK, CA-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement recently, but GlobeSt.com has learned that Playboy Plus Entertainment has signed a 102,128-square-foot office lease at 2300 Empire, here in Burbank, CA.
2300 Empire is a seven-story, 351,301-square-foot, LEED Gold Certified class-A office development by Clarius Partners LLC and investment partner Walton Street Capital. The building features a five-story parking structure on a 6.5-acre infill land site.
Mark Balcius, senior manager at Clarius Partners LLC, tells GlobeSt.com that although he cannot disclose the taking rent or aggregate lease value, asking rent is $3.25 per square foot (full service monthly rate). “The building is now 71% leased,” he adds.
Playboy Plus is expected to take occupancy of the new space later this year and is currently underway on a customized build-out of the space. 2300 Empire is located within the Media Studios North / Burbank Airport sub-market within the Tri-City market.
Clarius Partners and Walton Street Capital were represented in the lease negotiations by Patrick Church and Anneke Greco of CBRE. Playboy Plus was represented by Eric Olofson and Scott Menkus of Cushman & Wakefield Inc.
“Ownership is pleased that Playboy Plus elected to bring its new offices to 2300 Empire,” says Balcius. “This is an excellent endorsement of both the location and functionality of this new LEED Gold certified building.”
As GlobeSt.com reported, in October, the owners of the building had secured a short-term floating-rate loan for the property. At the time, a source said that the financing was “a positive sign of Burbanks’s overall health, a shift towards recovery in the real estate capital markets and the strength of the property.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
