A partnership between Worthe Real Estate Group and investment firm Stockbridge has completed a deal with Warner Bros. to acquire the Ranch Lot, a historic studio facility in Burbank, in a sale-leaseback transaction. The transfer of ownership will take place in 2023, and Warner Bros. will take occupancy of the property in 2025, following a redevelopment by the new ownership.
The partnership plans to spend $500 million to redevelop the 32-acre land site. The redevelopment will include 16 sound stages with connected production support space, a multi-level parking structure, a commissary, mill space and a 320,000-square-foot office complex. The development project will total 926,000 square feet.
The Ranch is adjacent to the Burbank Studios, Warner Bros. primary studio facility, which has 32 sound stages. Once the redevelopment of the Ranch is complete, Warner Bros. will have a total of 56 sound stages.
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Kelsi Maree Borland
