Worchell Hollywood Properties Acquires Burbank Property From Motion Picture & Television Fund For $14.3M

A medical building located at 4323 W Riverside Dr, Burbank, CA, was sold for $14,300,000.00. The property is fully leased by The Regents of the University of California and occupied by UCLA Health. It features 102 parking spaces with a favorable parking ratio, offering free parking to both patients and employees.

Summary of transaction details:

• Property Type: Off-campus single-tenant medical building
• Transaction Amount: $14,300,000.00
• Buyer: Worchell Hollywood Properties
• Seller: Motion Picture & Television Fund
• Market: Burbank
• Buyer's Representative: Alex Kozakov (CBRE)
• Seller's Representative: Christopher (Chris) Bodnar (CBRE)
• Broker: Bryan Lewitt (JLL)

CBRE Group facilitated the transaction with representatives including Bryan Lewitt, Chris Isola, Chris Bodnar, and Lee Asher representing the seller. The buyer was represented by CBRE’s Patrick Wade alongside Alex Kozakov.