Commercial real estate firm Newmark has announced the blockbuster sale of the DreamWorks Animation Studio campus in Glendale for $327 million.
According to L.A. Business Journal, the 14 acre site was owned by LA Hana OW, an entity of Hana Asset Management and OceanWest Capital Partners. The new owners are Brookfield Real Estate Investment Trust.
DreamWorks, which has a lease through 2035, currently occupies all seven buildings and some 497,403 square feet of office space. The property also features an onsite commissary, 165 seat theater, motion capture studio, recording studio, green rooms, medical clinic, library and helipad.
“Situated on nearly 15-acres within Los Angeles’s thriving media district, the campus is one of the most iconic headquarters destinations in Los Angeles,” said Newmark Senior Managing Director Laura Stumm via company release. “The opportunity to acquire a critical media asset of scale is extremely rare, as indicated by the strong interest in this investment.”