Description

Colliers is pleased to present the opportunity to acquire the fee-simple interest in Griffith Business Park, a ±9.74-acre, 181,459-square-foot business park in Glendale, CA. The Property is one of the largest contiguous infill sites to come to market in the LA North industrial market in over a decade.

Positioned at the intersection of Glendale, Burbank, and North Hollywood, the Property sits at the geographic center of Los Angeles’ Entertainment corridor, adjacent to Disney, DreamWorks, Warner Bros., and NBC Universal, with direct access to both the I-5 and SR-134 freeways. The nine-building campus includes 67 loading doors and 270 parking stalls, and the underlying 9.74-acre site is zoned IMU (Industrial/Commercial Mixed Use).

The Property offers rare optionality across four distinct, independently executable business plans: (i) a lease-up of the existing multi-building campus; (ii) execution of the fully approved ±406,318 SF studio entitlement, comprising three production buildings, ten soundstages, and a 533-space parking structure; (iii) full-parcel industrial redevelopment of up to ±205,660 SF; or (iv) subdivision of the project into separate parcels.

The opportunity is underpinned by best-in-region submarket fundamentals for industrial. Vacancy in the East San Fernando Valley portion of the LA North industrial market stands at 3.8%, making it one of the tightest markets in the Western United States. Griffith Business Park represents a generational opportunity to acquire institutional-scale real estate with flexible execution paths in one of the highest barrier-to-entry markets in the Western United States.