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NBCUniversal to stay and expand in Universal City skyscraper

Universal NBCUniversal has renewed its lease – and will substantially expand its office quarters – in a Universal City high-rise that bears its name on top.

The entertainment giant has been connected to the building called 10 Universal City Plaza since it was built by company predecessor MCA Inc. and Texaco Inc. in 1984. At 35 stories, the tower on Lankershim Boulevard visible from the Hollywood Freeway is the tallest in the San Fernando Valley.

NBCUniversal and the skyscraper’s landlord, Normandy Real Estate Partners of Morristown, N.J., declined provide details of the lease but real estate data provider CoStar Group and people familiar with the agreement who were not authorized to speak publicly filled in details.

NBCUniversal will expand from 288,000 square feet to about 370,000 square feet in a 10-year deal valued between $170 million and $210 million, they said. It will be several months before NBCUniversal expands into all of its space.

The dark granite-clad tower was known as the Texaco Building for many years when it housed the oil company’s western headquarters. Texaco and Shell combined U.S. refining and marketing operations in a new company named Equilon in the late 1990s and Equilon moved its local offices to Burbank.


RELATED:  

CoreLogic to move headquarters to Irvine

Robert Redford to move local Sundance office to Miracle Mile

Photo:  10 Universal City Plaza.   Credit: Normandy Real Estate Partners

 
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