DreamWorks Planning to Sell Sprawling Glendale HQ for $185M
In its Q4 earnings release, DreamWorks Animation announced it is selling its massive HQ on Flower Street in Glendale. The company did not provide details as to who bought the more than 400k SF compound, but it is leasing the space back. CEO Jeffrey Katzenberg says he's confident recent restructuring, which included layoffs, will get the company back on track.
This comes as the animation studio has struggled with weak box office sales for its most recent releases, including "Turbo" and "Peabody and Sherman." The sprawling campus is a gem to the City of Glendale, as it sits as an extension to the massive entertainment community in neighboring Burbank, which includes Walt Disney, Warner Bros and others.