Formerly 60% leased by Technicolor, 250 E Olive now offers more than 32,000 RSF of contiguous space available for lease for the first time since the Building was constructed in 2005.
LOS ANGELES, Ca., March 21, 2018 – Cushman & Wakefield announced today the signing of two new tenants, Formosa Group, and Rethink Leisure & Entertainment, to 250 E Olive Ave ‘Hanhai Civic Plaza’ in Downtown Burbank.
Cushman & Wakefield Director, Katie Bernhisel, and Senior Associate, Dillon Moscone, represented the landlord, Creative International Investment, Inc., in both transactions. Formosa Group was represented by Cushman & Wakefield Executive Vice Presidents Mark Robinson, and Arlene Sommer. Executive Vice President, Chris Keller and Partner, Chris DuMont, of Madison Partners represented Rethink Leisure & Entertainment.
Formosa Group is a full service post-production sound company serving independent and studio film makers and content creators. The company has signed a seven year lease for 8,834 RSF.
Rethink Leisure & Entertainment is a Burbank-based design firm specializing in themed entertainment and has taken 4,354 RSF. Rethink has assembled a world-class team of seasoned themed entertainment talent. Rethink has the expertise necessary to complete any aspect of any themed entertainment project. Services offered include concept development, attraction & ride design, project management, and technical direction for theme parks, resorts entertainment, and retail. Both tenants assumed their leases in March 2018.
250 E Olive Ave is a 79,763 RSF Class A office building situated in the heart of Downtown Burbank. It is conveniently located minutes from the major studios, Hollywood Burbank Airport, and I-5 /CA-134 Interchange, and is walking distance to over one hundred eateries. The property was purchased by Creative International Investment, Inc. in 2014. The building’s existing infrastructure– which includes high speed fiber—offers space particularly suitable for post-production, editing, gaming and other media/entertainment uses.
“We are happy to welcome Formosa Group and Rethink as tenants at 250 E. Olive. From sound editing and post-production to gaming and animation, the building offers a unique and productive environment for tenants in Downtown Burbank’s most convenient location,” Ms. Bernhisel said.
Formosa Group joins a roster of entertainment and media tenants including Rethink Leisure & Entertainment, Hanhai Studio, Marza Animation Planet (a subsidiary of SEGA Holdings), and Furious FX. Other tenants include FedEx and Wells Fargo on the ground floor.
“The Formosa Group’s space is logistically convenient to its clients and prospective new business partners as well as a variety of great amenities for its employees. The Hanhai Civic Plaza is surrounded by more than 100 restaurants and retail outlets,” Ms. Sommer said.
In addition to agency leasing, Cushman & Wakefield professionally manages the property on behalf of Creative International Investment, Inc.