BURBANK, CA-A joint venture has completed the acquisition of two class-A office properties in the heart of the media district. Price was just over $342 million.
Hudson Pacific Properties Inc. and M. David Paul & Assoc./Worthe Real Estate Group have purchased Pinnacle I and Pinnacle II. The buildings are situated on a 4.3-acre campus directly adjacent to Warner Bros. Studios and Burbank Studios and blocks away from Walt Disney Studios.
Pinnacle I and Pinnacle II are currently 95% leased. Pinnacle II is 100% leased to Warner Bros. through Dec. 2021. Pinnacle I tenants include NBC Universal, Sony and Clear Channel Communications.
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