Savills represented Insomniac Games in the expansion of its Burbank headquarters located at 2255 North Ontario Street. The video game developer leased an additional 11,437 square feet of office space at the Media Studios complex, bringing its total occupancy to 53,094 square feet. Insomniac currently occupies the top floor of the five-story, 215,000-square-foot building and will expand into a portion of the fourth floor in mid-2020.
Senior Managing Director Matt Brainard advised Insomniac in the transaction. He also worked with the company to renew and extend its existing lease and execute co-terminus agreements for the contiguous spaces.
“Insomniac has been at this address for 17 years, and the lease extension and expansion enable the company to continue its legacy of success here,” said Brainard. “We secured a generous tenant improvement package that will allow Insomniac to fully transform its space into a vibrant, modern work environment.”
The project includes renovating and rebranding the fifth-floor space, building out the fourth-floor expansion and constructing an internal, interconnecting staircase that links the two floors. The overall project costs were significantly less than the cost of a relocation, according to the comprehensive financial analyses conducted by Savills.
“Together with our Project Management team, we crafted an opportunity for our client to navigate its current and future occupancy needs with minimal operational disruption,” added Brainard. “The expanded space accommodates the company’s growing workforce, embraces its welcoming and collaborative culture and represents its evolution from a start-up to a mature and thriving video game developer.” Insomniac celebrates its 25th anniversary in business this year.
Media Studios is a 19-acre campus comprised of low-rise office and creative space, conveniently located adjacent to the Burbank-Glendale-Pasadena Bob Hope Airport. The LEED-certified complex features a wealth of retail, lifestyle and hospitality amenities, including a private health club, a commissary, day care, a putting green, screening rooms and outdoor sports courts.
The complex owners, Blackstone Group and Worthe Real Estate Group, were represented by CBRE’s Todd Doney, Doug Marlow, Ryan Pettersen and Juliana Sampson.