Warner Bros. has plans to purchase a portion of The Burbank Studios, a new proposed 35-acre film, TV, broadcast media and new media campus in Burbank, Calif., formerly known as NBC Studios, as part of a major expansion plan.
The multi-phased project is one of Burbank’s largest and most complex real estate transactions ever, with an estimated combined value of more than $1 billion, reported The Los Angeles Times.
The purchase includes office space, eight soundstages, a mill building and a commissary. Warner Bros. also will become long-term tenants of the two buildings that Worthe Real Estate Group and its partner Stockbridge Real Estate Fund are to develop as the Second Century Project.
The 800,000-square-foot office-building complex will consist of a seven-story building of approximately 355,000 square feet and a nine-story building of approximately 445,000 square feet.
Groundbreaking is expected to take place in the fall of 2019, with construc
