Pendulum Property Partners Acquires 'The Link' in the Heart of Burbank’s Media District

 

Laura Stumm 

 

Los Angeles, CA (June 1, 2021) – Pendulum Property Partners (Pendulum), a fully integrated commercial real estate investment firm based in Southern California, has officially acquired 2901 W Alameda Avenue (“The Link”) in Burbank, California in the nexus of Burbank’s exclusive Media District. 

2901 W Alameda Avenue (“The Link”), Burbank, CA

 

The purchase of this 124,785 square foot property demonstrates the company’s commitment and approach to the region, marking its first Los Angeles acquisition since opening the LA office in September 2020.  

Dan Wagman

“This is a key acquisition for Pendulum in the post-COVID environment and an exciting first deal for our LA office,” said Dan Wagman, Partner of Pendulum Los Angeles.

 

 “The Property is an amazing home for media and post-production users seeking state-of-the-art facilities at main-and-main in Burbank, one of LA’s – and the country’s – strongest submarkets.”

 

The Link is proximate to more than 640 acres of motion picture and television studio lots and 700 media-related companies (including Warner Bros., Disney, Comcast’s NBC Universal, DreamWorks, Netflix, and others).

Kevin Hayes

The property recently underwent an extensive $5.9 million renovation providing an ideal blend of Class A creative office space and best-in-class post-production, broadcasting, screening, and editing facilities.

 

The Property also boasts the following features:

• Enterprise-grade dark fiber optical connectivity, ideal for media companies
• High ceiling heights (13’ to 18’)
• Redundant power and above standard electrical service
• On-site parking at >3.0 / 1,000 square foot ratio
• State-of-the-art lobby
• 2,500 square-foot collaborative outdoor courtyard

Kevin Shannon

“The Link underscores Pendulum’s 2021 strategy to invest in high-quality commercial properties in highly sought-after locations that serve growing industries in need of state-of-the-art collaborative spaces,” says Kevin Hayes, Chief Executive Officer of Pendulum.

 

 “We believe in the Los Angeles market today and long-term and are excited to continue to grow our presence through further acquisitions.”

 

Currently, the Burbank Class A office market is the strongest and most resilient submarket in Southern California.

 

In June 2020, the film and television industry was deemed an essential service and studios ramped up production of streaming content, which rendered the majority of buildings 100 percent occupied.

Rob Hannan

Upon purchase, The Link was 76 percent occupied and Pendulum expects to fully stabilize the Property shortly.

While this is Pendulum’s first LA-based acquisition, the company’s overall acquisitions have totaled more than $850 million and nearly 2 million square feet since its founding in 2016.

 

The Newmark team of Kevin Shannon, Rob Hannan, Ken White, and Laura Stumm helped coordinate the sale, while the Newmark team of David Milestone and Brett Green arranged the financing.   

 About Pendulum Property Partners:

 Pendulum Property Partners (Pendulum) is a fully integrated, privately held real estate firm that owns, operates, develops, and manages commercial and multi-family real estate. 

Ken White

Led by an established team, Pendulum offers a wealth of experience delivered with high-touch, personalized service. Pendulum specializes in creating and executing upon value-add strategies utilizing its extensive real estate operating expertise.

 Pendulum services include: Acquisitions and Dispositions, Asset Management, Property Management, and Construction & Development. Its pricing discipline and keen understanding of the capital markets and market fundamentals enable it to create true investment value for its customers and partners.

 

CONTACT:

Stacey Kaszton Jones

President

STACEY@LAVOZMARKETING.COM 

+1 (213) 925 8177 

717 LIDO PARK DRIVE, SUITE D | NEWPORT BEACH, CALIFORNIA 92663

LAVOZMARKETING.COM | FACEBOOK.COM/LAVOZMARKETING | @LAVOZMARKETING

 

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