The Valley is Getting the City Treatment. Here's How.

With a spate of new developments and investments taking place in the San Fernando and Conejo valleys, the more suburban areas of LA are changing. That's why we're thrilled to host Bisnow's 3rd annual Future of the Valley, Thursday, Oct. 1, starting at 7:30am.

Among our all-star panelists will be Michael Cusumano, CEO of one of the region's foremost development, acquisition and management firms: Cusumano Real Estate Group. (Above, he's accepting an award from Goodwill Industries on behalf of the Cusumano family.) Michael tells us the family owned and operated company is preparing to launch two major mixed-use projects in Burbank. On deck is the 426k SF Talaria at Burbank in the heart of the Burbank Media District, which is slated to break ground in October. It will have 241 apartment units above a 43k SF Whole Foods Market.

Talaria (3401 West Olive—the project's name translates as "uplifting") will be constructed on 26 separate parcels spanning two blocks, the culmination of a seven-year land consolidation and entitlement process. It will be the first LEED-certified mixed-use project in the City of Burbank as well as the city's largest LEED-certified development.

The company also is entitling The Premier on First, a 400k SF development with office, hotel, residential and retail components in the heart of Downtown Burbank. Michael notes tech and media-related tenants have been the driving force in Burbank and anticipates the office users will come from that world. Additionally, The Premier will include a 14-story, 230-room full-service hotel (think meeting spaces plus restaurants) and 150 high-rise multifamily units, along with 15k SF of retail. Michael expects project approval by year-end 2016. Additionally, the company will begin improvements soon for the Conejo Valley's largest office lease this year—Sage Publications' 100k SF deal at the Conejo Corporate Campus in Thousand Oaks.

But the company's not done there—in the past five years, Cusumano Real Estate Group has acquired 50 investment properties totaling more than 1M SF of predominantly multifamily and triple-net retail assets. Born and raised in Burbank, Michael lives in Malibu with wife Caroline, a Pac 10 swimming champ in college who still participates in triathlons. When Michael wants to get away from the daily grind of real estate, he steps into a boxing ring. Michael got into the sport about 10 years ago. "It takes your mind off of all your business deals when you're trying to avoid getting hit in the nose." Hear more from Michael and the rest of our panelists at Bisnow's 3rd annual Future of the Valley, Thursday, Oct. 1, starting at 7:30am. Sign up here!

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Los Angeles Newsletters
Related Stories

DivcoWest Sells Glendale Office Building For $70M

Daniel Negari Buys Downtown LA Hotel For $34M

Downtown Atlanta Improvement Group Picks Food Bank Chief As Next Leader

Stockdale Capital Partners, Hamilton Lane Acquire Chino Hills Shopping Center For $157M

Trump's DEI Crackdown Is Creating New Risks For Landlords That Lease To The Government

California Emerging As Data Center Fallback Market Amid Nationwide Opposition

Brandon Johnson Seeks Second Term Amid Strained CRE Relationship

Chapman Market Owners Get $29M Refinance: The Los Angeles Deal Sheet

Lineage Suing Solar Company Altus Power Over Boyle Heights Warehouse Fire

HPP, Blackstone Nab Extension On $1.1B Loan Tied To 2.2M SF Hollywood Portfolio

25 Years After 9/11, Lower Manhattan Is Finally Firing On All Cylinders

Former CBRE Exec Suing Brokerage Giant Over Age Discrimination, Whistleblower Complaint