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SunTrust Buying DreamWorks HQ


Late yesterday, DreamWorks Animation announced that SunTrust Equity Funding, an affiliate of the Atlanta banking behemoth, is buying the film studio's Glendale HQ. The sprawling campus includes 10 buildings and more than 400k SF on 15 acres. As part of the sale, DreamWorks entered into a 20-year lease with an annual rent starting at $13.2M. The company has been hammered at the box office the last couple of years, even leading to several rumors it could be bought. But CEO Jeffrey Katzenberg said he's confident the recent restructuring, which included layoffs, will get the company back on track.