LOS ANGELES--(BUSINESS WIRE)--Lincoln Property Company, along with joint venture partner Angelo Gordon, has completed a multimillion-dollar transformation of Connexion Burbank, a campus of three buildings encompassing nearly a full city block in the heart of Burbank’s downtown area, and sold it to Intercontinental Real Estate Corporation.
Since acquiring the property in 2015, Lincoln implemented a business plan to create a cohesive, walkable campus that takes advantage of the existing open space on the property and reflects the design of the Burbank Village district. A previously unfinished loading alley bisecting the site was transformed into a central pedestrian walkway that adjoins new outdoor decks and terraced dining areas. Lincoln also added public art and significant landscaping throughout the property.
Connexion Burbank is comprised of three buildings and two parking garages at 303 N. Glenoaks Boulevard, 333 N. Glenoaks Boulevard and 300 E. Magnolia Boulevard. The renovations of these properties and the two adjacent parking garages create top-quality modern office space in the Tri-Cities market and has attracted blue chip companies including Turner Broadcasting and Citibank.
The campus is more than 90 percent occupied by a diverse group of tenants such as The University of Redlands, Gerencia 360, and Blackmagic Design. The property’s location near Los Angeles’ major entertainment studios is reflected in the numerous creative tenants that occupy the buildings.
“The Burbank office market is strong,” said Rob Kane, Executive Vice President of LPC West, Lincoln’s West Coast arm. “We focused on making enhancements that would attract new companies to Burbank, as well as servicing existing tenants in the building. Our work represents Lincoln’s dedication to adding value and maximizing the potential of the properties we own and operate.”
The three buildings on the 337,904-square-foot property were constructed from 1973-1984. The property is near an abundance of amenities including the nearby Burbank Town center and an expansive collection of restaurants, retailers, entertainment, hotels and high-quality residential options.
“Now that Burbank Connexion is a cohesive campus, the property offers creative tenants a unique opportunity to join Downtown Burbank’s office market within a modern, amenity-rich space,” said Stephen Lindgren, Vice President of Lincoln Property Company. “Not only is its central location in Burbank a selling point, but these buildings provide an unparalleled environment for companies to operate and grow in.”
About Lincoln Property Company
Lincoln Property Company, founded in 1965 by its chairman Mack Pogue, is a privately-owned real estate firm involved in real estate investment, development, property management and leasing worldwide. Lincoln has offices in all major markets of the U.S. and throughout Europe. Lincoln’s cumulative development efforts have produced over 100 million square feet of commercial space and over 185,000 multifamily residential units. Lincoln Property Company is one of the largest commercial real estate companies in the world. Visit www.lpcsocal.com for more information.