Postproduction firm Modern VideoFilm plans expansion in Burbank

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Postproduction and film conversion company Modern VideoFilm Inc. has agreed to expand into a new headquarters in Burbank with the signing of a $35-million lease, brokers said.

Modern VideoFilm will rent the first and second floors of a newly built building at 2300 Empire Ave. in Empire Center, according to real estate brokerage Studley. The 11-year agreement to occupy 96,000 square feet represents a 30% expansion for Modern VideoFilm and the consolidation of its Burbank, Glendale and Studio City locations.

“Consolidating three of our locations under one roof will facilitate tighter team collaboration and improve operational efficiencies,� Chief Executive Moshe Barkat said. The company plans to move in the fourth quarter of next year.

Clarius Partners manages the property and agreed to the lease on behalf of landlord Walton Street Capital.

Modern VideoFilm also recently signed a 10-year lease for 20,000 square feet at Yahoo Center at 2500 Broadway in Santa Monica. This space will be dedicated to postproduction facilities.

-- Roger Vincent