Worthe Real Estate Group and two other firms have bought The Burbank Studios from Warner Bros. Discovery.
The deal is worth $375 million, according to The Real Deal, which cited a Los Angeles County record filing. Located in Burbank's Media District, the area equals 685,000 square feet. The 27-acre studio campus comes with eight sound stages, office space, and production.
Furthermore, Worthe is eyeing two phases of development. It will include five new sound stages that will range from 18,000 square feet to 20,000 square feet each.
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