BURBANK, Calif.–Lincoln Property Company has been selected as the property manager of 2300 Empire Avenue, a trophy Class A office tower encompassing more than 350,000 square-feet in Burbank, Calif.
The property was acquired in June by New York Life Real Estate Investors on behalf of its client, who handpicked Lincoln to serve as the property manager following their role as a close advisor providing strategic counsel to New York Life Real Estate Investors throughout the acquisition process.
Lincoln will take the lead in executing planned renovations including upgrades to the lobby and common areas throughout the property. A new outdoor recreation space for tenants is also in development.
The 7-story building already houses industry-leading tenants including Cast & Crew, a payroll and management consulting firm that services the entertainment industry; Performance Designed Products, a leading video game accessory company; and Critical Content, an independent content studio behind successful shows including MTV’s Cat Fish, the Food Network’s The Great Food Truck Race, and Esquire’s Joyride.
“Burbank is an exciting and dynamic market with an increasing demand for office space fit to accommodate creative companies currently outgrowing more crowded markets,” said Rob Kane, Executive Vice President of Lincoln Property Company. “We’re excited to execute our joint vision with New York Life Real Estate Investors’ client to solidify the Class A status of this premier asset.”
The building has easy access to the 5, 170, and 134 Freeways, as well as Burbank’s Bob Hope Airport and Burbank’s Downtown Metro station. The property is also directly adjacent to the expansive Empire Center – a 750,000 square-foot retail center with shopping, food, and beverage offerings including Target, Walmart, and Men’s Warehouse, as well as Outback Steakhouse and Sharky’s Woodfired Mexican Grill.
Lincoln’s Western unit, known as LPC West, currently manages approximately 25 million square feet of space in the region. LPC West is also an expert in acquisitions, development, and repositioning of existing commercial, retail, and mixed-use properties. In 2015, Lincoln acquired the Burbank Collection, a campus of three office buildings encompassing nearly a full city block in Burbank’s downtown area, and completed a full renovation to transform the property into a walkable, cohesive campus.
“Lincoln Property Company leads the industry in property management, and has extensive experience repositioning properties to attract entertainment and media companies in the L.A.-area,” said Chris Hunt, Senior Director of New York Life Real Estate Investors. “We look forward to working closely together to enhance this property and make it an even more prominent building within the regional office market.”
The building is represented by the leasing team of Patrick Church and Anneke Greco of JLL.