Cruzan Acquires Burbank Office Building From Strategic Office Partners For $37.4M

The office property located at 2130 N Hollywood Way in Burbank, CA, was sold for $37.4 million. The fully leased building spans 95,000 square feet and was acquired by Cruzan and Independencia Asset Management from Strategic Office Partners. The facility is a post-production site and the sole tenant is Deluxe Media Inc.

Summary of transation details:

• Property Type: Office
• Transaction Amount: $37,400,000.00
• Market: Burbank
• Seller's Rep: Michael (Mike) Longo(CBRE), Sean Sullivan(CBRE), Todd Tydlaska(CBRE)
• Buyer: Cruzan
• Seller: Strategic Office Partners
• SF: 95,000
• Address: 2130 N Hollywood Way, Burbank, CA

CBRE's Senior Vice President Michael Longo, Executive Vice Presidents Todd Tydlaska and Sean Sullivan represented the seller, while a different CBRE team facilitated a loan on behalf of the buyer. The prior owner, Strategic Office Partners, targeted single-tenant assets in high-growth U.S. metros. The office property, situated 3 miles north of Warner Bros. Studios, was constructed in 1965 and renovated in 2017.