231 W Olive AvenueBurbank, CA
Type: Creative Office
In October 1996, Accord formed a partnership to acquire a 102,000 square foot property with existing warehouse structures in Burbank, CA. GMAC Commercial Mortgage provided the debt funding, with equity funding provided by the principals and their limited partners.
Accord leased the property, in the heart of the entertainment studio district, to Viacom International, Inc. in February 1998 for use as the animation studio for its Nickelodeon division. A portion of the existing structure was demolished, and the remaining portions were extensively renovated. The completed project has 72,232 square feet, with additional expansion of 25,000 square feet available. Accord also constructed a 366-car parking structure on the site. When it opened, the Nickelodeon Animation Studio was the first television animation studio that had been built in Los Angeles in 35 years.
