BURBANK, CA-Pivotal Post, an editing house that has worked on “Fast and Furious,” “Quantum of Solace” and “Twilight,” has signed a 10-year lease at 2901 W. Alameda Ave., joining several competitors at the location. Pivotal Post already had a presence in the building, but decided to bring over the rest of its North Hollywood headquarters and cutting rooms to the new location.
The 17,125-square-foot office lease is valued in excess of $5 million. The building is now full, with tenants entirely made up of media-related companies, included editing, post-production and production and broadcast. Principals Trevor Belden and Robert D. Erickson of Lee & Associates LA North/Ventura were the brokers for the landlord, CF Burbank Office LP. Andrew Lustgarten, Marcus Arrendondo and Mark Sullivan of Studley represented Pivotal Post.
“Space at this location is ideal for entertainment related uses due to the proximity to NBC Universal and Warner Bros. and the numerous local amenities,” said Erickson in a prepared statement. “The space Pivotal Post will occupy has also been fully improved for audio/video production.”
Located in Burbank's Media District, 2901 W. Alameda is home to several entertainment industry companies, including Todd-AO and Level 3 Post. With the addition of Pivotal Post, the building is now full, with tenants specializing in editing, post-production, production and broadcasting. The space was formerly occupied by Ascent Media Corp. and was already built out for production use and in move-in condition for Pivotal Post.
“We are thrilled to be headquartered in the center of the Media District in Burbank,” said Kevin Hyman, CEO of Pivotal Post, in a prepared statement. “Virtually all our client suites now have great light and views. It is an ideal creative environment for our clients.”
“The transaction made financial sense for our client, who will be occupying space with high residual value that requires minimal construction,” said Lustgarten in a prepared statement. “We were able to leverage the landlord's low capital costs into very favorable transaction terms for the tenant.”
As previously reported by GlobeSt.com, Hudson Pacific Properties Inc. and M. David Paul & Assoc./Worthe Real Estate Group have purchased Pinnacle I and Pinnacle II in Burbank for $342 million. 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.
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