Madison Partners Arranges Sale of Burbank Building
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Burbank, California: Madison Partners is pleased to announce the sale of 3300 Riverside Drive in Burbank, California. An undisclosed buyer purchased the 55,550 rentable square foot office building for $30,000,000 or $540 per square foot which represents a 5.5% cap rate.
Originally built to suit Warner Bros. in 1984, the four-story building is located in the heart of Burbank’s Media District and is conveniently positioned immediately adjacent to the major studios. The Property is 100% occupied by New York Film Academy through August 2028.
Bob Safai, Matt Case and Brad Schlaak of Madison Partners represented the seller, Worthe Real Estate Group in this fully marketed transaction.