In Burbank, the redevelopment of the Warner Bros. Ranch lot has entered the home stretch.

The $500-million joint venture between Worthe Real Estate Group and Stockbridge Real Estate Fund cleared the 30-acre campus at 3701 W. Oak Street to make way for the construction of 16 soundstages, 326,000 square feet of offices, and a parking garage. The new soundstages are already fully-leased by Warner Bros.

Rendering of the entrance to the proposed Ranch Studios Lot project in BurbankWorthe Real Estate Group

Gensler is designing the redevelopment, which includes a contemporary glass-clad office building standing five stories in height.

The Ranch lot's redevelopment came about as part of a land swap deal between Worthe, Stockbridge, and former Warner Bros. parent company AT&T involving multiple properties in the Burbank area. The centerpiece of that deal was the Burbank Studios lot, where Worthe and Stockbridge have already completed work on a pair of Frank Gehry-designed offices. Operations that were previously based at the Ranch lot were to relocate to the new office buildings as part of the deal.

Aerial view of a redeveloped Ranch Studios Lot in BurbankWorthe Real Estate Group

Warner Bros. has since sold The Burbank Studios lot back to Worthe, Stockbridge, and QuadReal Property Group, which intends to add five soundstages to the property, and potentially upwards of 400,000 square feet of offices should market conditions improve.

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