NBC Sells Thirty-four Acre Studio!
Word has just been released that NBC is in the works to sell one of its thirty-four acres studios in Burbank, California to development company M. David Paul and Associates!
Since NBC already houses and produces both Days of Our Lives and The Tonight Show With Jay Leno in their Burbank facility, the deal may take years to exchange hands as the network will need time to relocate the soap and nighttime talk show to their Universal City studios. However, NBC will be allowed to use the remaining space as it sees fit, such as leasing parts of the building, during this ‘move time’.
Once the deal is done, the purchaser, along with Catalina Media Development II LLC, will be allowed to build on the property, as stated in an agreement made between NBC and the city back in 1997. Knowing this new project could house a maximum of 670,000 square feet of potential office space, which in turn would bring more traffic and jobs to the area, Burbank City Councilman Dave Golonski praised M. David Paul and Associates as already being a well-respect builder of high quality developments in Burbank thus far!
This isn’t the first deal made between this builder and NBC. Back in 2005, after purchasing a nine-acre lot from the network, M. David Paul and Associates have been busing themselves to complete a fourteen-story building at Bob Hope Drive and Alameda Avenue, which should be finished in another year.
Although there will be a lot of financial and legal technicalities to sort through, all in all, this deal should work out good for everyone involved as a whole!
Soaps.com wants to wish NBC and M. David Paul and Associates the best with their new venture! As a reminder, this deal will NOT affect Days of Our Lives, as the network plans to relocate their current NBC studio to another one at the network’s Universal City facilities!
Assistant to the Editor-In-Chief