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Transactions - MARCH 25, 2014

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IN-DEPTH: Worthe buys Burbank office for $109m

by Andrea Waitrovich

Worthe Real Estate Group has paid $109 million for Tower Burbank, a 486,972-square-foot office building at 3900 W. Alameda Ave. in Burbank, Calif. Here’s an in-depth look at the deal.

 

THE DEAL

BlackRock Realty was the seller of the 32-story office property. The sales price was $109 million. Eastdil Secured represented the seller and the buyer.

The new owner may reposition the property into luxury rentals, condominiums, a hotel or a mix of uses. The L.A. Times has reported that Jef

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