{"id":1004547486,"date":"2021-08-17T03:10:30","date_gmt":"2021-08-17T11:10:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004547486"},"modified":"2022-12-08T20:00:12","modified_gmt":"2022-12-09T04:00:12","slug":"bmk-capital-secures-3-leases-with-entertainment-companies","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bmk-capital-secures-3-leases-with-entertainment-companies\/","title":{"rendered":"BMK Capital Secures 3 Leases With Entertainment Companies"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"alignright size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004547599\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bmk-capital-secures-3-leases-with-entertainment-companies\/2333-valley-st-main-photo-cropped-1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/2333-Valley-St-Main-Photo-Cropped-1.jpg\" data-orig-size=\"1200,900\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"2333 Valley St Main Photo Cropped (1)\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;2333 Valley St. in Burbank, Calif. Image courtesy of BMK&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/2333-Valley-St-Main-Photo-Cropped-1.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/2333-Valley-St-Main-Photo-Cropped-1.jpg?w=696\" alt=\"\" class=\"wp-image-1004547599\" width=\"1024\" height=\"768\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/2333-Valley-St-Main-Photo-Cropped-1.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/2333-Valley-St-Main-Photo-Cropped-1.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/2333-Valley-St-Main-Photo-Cropped-1.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/2333-Valley-St-Main-Photo-Cropped-1.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>2333 Valley St. in Burbank, Calif. Image courtesy of BMK<\/figcaption><\/figure><\/div>\n\n\n\n<p>As the entertainment industry offers some signs of recovery, BKM Capital has secured three leases with production studios for its Backlot Burbank industrial park in Burbank, Calif.<\/p>\n\n\n\n<p>Dhar Mann Studios signed two leases at Backlot Burbank while AMGI Animation Studios will take up one building at the 16-building industrial property. Colliers\u2019 David Harding, Greg Geraci, Matt Dierckman and Billy Walk represented the landlord in the leases.<\/p>\n\n\n\n<p>AMGI, a full-service animation studio, signed a lease for a 18,392-square-foot facility, while Dhar Mann, a content creation company, will take both a 25,490-square-foot and a 27,226-square-foot property. Geraci, executive vice president at Colliers, told <em>Commercial Property Executive<\/em> that the three leases were between four and eight years in duration.<\/p>\n\n\n\n<p>With the new tenants, the 306,224-square-foot Backlot Burbank is now fully occupied, according to Geraci. The creative industrial park\u2019s other tenants include Uber, Volt Lites, Luka Grip &amp; Lighting and LiteGear.<\/p>\n\n\n\n<p>Built between 1964 and 1967, the property contains open loft areas, concrete polished floors and higher drop ceilings in a variety of building sizes. BKM Capital <a href=\"https:\/\/www.commercialsearch.com\/news\/la-area-industrial-business-park-sells-for-85m\/?amp\">acquired the property<\/a> for $84.8 million from a joint venture between Shubin Nadal Associates and Penwood Real Estate Investment LLC in August 2018.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Pent-Up Demand<\/strong><strong><\/strong><\/h2>\n\n\n\n<p>The entertainment industry is rebounding following the COVID-19 lockdowns, and many TV, movie and other production companies are expanding again. Gerasi told <em>CPE<\/em> that Backlot Burbank is a natural landing spot for these entertainment companies because of its proximity to major studios and lack of gross receipts tax.<\/p>\n\n\n\n<p>\u201cCOVID had a pivotal role in creating this pent-up demand because the shutdown of movie and TV productions created a holding pattern across the entertainment industry,\u201d Geraci said. \u201cNow that productions have resumed, the ancillary entertainment companies are getting busier and they\u2019re more receptive to leasing more space and signing a long-term lease.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Backlot Burbank industrial park in Burbank, Calif., is now fully occupied. <\/p>\n","protected":false},"author":883,"featured_media":1004547599,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1594],"tags":[33648,35498],"class_list":["post-1004547486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-los-angeles","tag-bkm-capital-partners","tag-colliers"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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