Burbank Office Production Facility Sold For $5.8 Million With Brokers Gerard Poutier & Mark Shaffer

A 20,347-square-foot production facility located at 400 South Victory Boulevard in Burbank has sold for $5.8 million. The asset is part of the office property type and reflects a price per square foot of $285. This sale occurred amidst a backdrop of softening demand in LA’s entertainment real estate market.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $5,800,000
• Square Footage: 20,347
• Address: 400 South Victory Boulevard
• Market: Burbank
• Price Per Square Foot: $285
• Brokers: Gerard Poutier & Mark Shaffer - CBRE

The sale highlights the changing dynamics in the market, with increased office vacancies and decreased filming activity in the area. Gerard Poutier and Mark Shaffer from CBRE represented the transaction, which was executed at 42% below the property's original asking price.