{"id":1004662951,"date":"2023-05-16T04:04:18","date_gmt":"2023-05-16T12:04:18","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004662951"},"modified":"2023-05-16T23:37:19","modified_gmt":"2023-05-17T07:37:19","slug":"worthe-stockbridge-wrap-up-800-ksf-warner-bros-hq","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/worthe-stockbridge-wrap-up-800-ksf-warner-bros-hq\/","title":{"rendered":"Worthe, Stockbridge Wrap Up 800 KSF Warner Bros. HQ"},"content":{"rendered":"
\"Second<\/a>

Second Century. Rendering by Sora, courtesy of Gehry Partners<\/em><\/p><\/div>\n

Worthe Real Estate Group<\/strong> and Stockbridge Real Estate Fund<\/strong> have completed the construction of Second Century, an 800,000-square-foot project in Burbank, Calif. The development will serve as Warner Bros<\/strong>.’ new headquarters, in anticipation of the firm’s upcoming centennial celebration.<\/p>\n

Second Century encompasses two nine-story, LEED-certified office buildings<\/a>. Gehry Partners<\/strong> spearheaded the architectural efforts, with Krismar Construction<\/strong> taking charge of construction operations. When the project broke ground in 2019, the developers secured a $594.2 million construction loan, provided by The Blackstone Group<\/strong>, CommercialEdge data shows.<\/p>\n

\n

READ ALSO<\/strong>: Los Angeles, Among the Top 10 Markets for Office Deliveries in 2022<\/a><\/p>\n

\n

Nestled in the Burbank Media District, at 100-200 S. California St., the towers are situated on the southernmost section of The Burbank Studios Lot, neighboring the main lot of Warner Bros. The construction of Second Century generated jobs that totaled more than 2 million hours of work.<\/p>\n

Entertainment industry boosts office leasing<\/h2>\n

According to JLL<\/strong> data, leasing activity in the Los Angeles area during the first quarter was characterized by larger leases, signed primarily by firms in the entertainment and financial services sectors. The city’s office pipeline had 3 million square feet of space under construction as of the first quarter, the same source reveals.<\/p>\n

The availability of sublease space reached a historical high of 9.3 million square feet during the quarter, JLL also reported. Interestingly, despite widespread layoffs<\/a>, the metro\u2019s technology sector, which is more focused on content creation, has not experienced a significant impact.<\/p>\n

Sony Pictures Entertainment has recently signed a long-term lease<\/a> for 225,239 square feet at Wilshire Courtyard, a Class A office campus in Los Angeles.<\/p>\n","protected":false},"excerpt":{"rendered":"

Second Century encompasses two LEED-certified office buildings.<\/p>\n","protected":false},"author":3030,"featured_media":1004662955,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,1594,21742,21747,15],"tags":[50206,45221,33129],"class_list":["post-1004662951","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-los-angeles","category-latest","category-office","category-west","tag-gehry-partners","tag-stockbridge-real-estate-fund","tag-the-blackstone-group"],"acf":[],"yoast_head":"\nWorthe, Stockbridge Wrap Up 800 KSF Warner Bros. 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