Hudson Pacific Properties Inc. bought a 60% share of the $342-million Pinnacle office complex in Burbank from M. David Paul & Associates/Worthe Real Estate Group, bringing together two of Southern California’s biggest entertainment industry landlords as co-owners.
The Pinnacle is made up of two office buildings on 4.3 acres near Warner Bros. Studios, Burbank Studios and Walt Disney Studios. Tenants include Warner Bros. Entertainment Inc., KIIS-FM and Elektra Entertainment, the Los Angeles Times reported.
Among properties owned by Hudson Pacific are Sunset Bronson Studios, Sunset Gower Studios and the Technicolor Building.
“The Pinnacle will be extremely complementary to our portfolio and will provide Hudson with an immediate foothold in one of the top media and entertainment submarkets in Los Angeles,” Chief Executive Victor J. Coleman said.
-- Roger Vincent, Los Angeles TimesCopyright © 2014, Los Angeles Times