DreamWorks Animation’s lush and much-envied Glendale campus has been bought by a partnership led by South Korean investors. As reported by the Los Angeles Times, the campus was sold for $290 million. The animation studio, which was bought by Comcast’s NBCUniversal for $3.8 billion in 2016, will continue to stay at the 15-acre property.
The Tuscan-styled campus was built 20 years ago when Steven Spielberg, David Geffen and Jeffrey Katzenberg founded DreamWorks SKG Entertainment. Located at 1000 Flower Street, the property features five buildings with a combined 460,000 square feet of space—including offices, a fitness center and a much-prized commissary, which provides a wonderful array of meals, free of charge, to employees.
DreamWorks Animation sold the campus in 2015 for $185 million and leased it back. El Segundo real estate investment trust Griffin Capital Co. bought the property for $215 million, and sold it this past Monday for $290 million to an entity of Hana Asset Management and Ocean West Capital Partners. DreamWorks’ lease has 16 years remaining. Katzenberg left DreamWorks in 2016 and launched a Beverly Hills investment fund.