NBC Sells Legendary Burbank Lot

NBC Sells Legendary Burbank Lot

NBC Universal has sold its 34-acre Burbank lot to one of the largest real estate developers in Los Angeles, and the network notified employees Thursday that hundreds of them will be moving to new digs being built in Universal City.

The company said in October that it was seeking a buyer for its property at 3000 W. Alameda Ave., and it found one in M. David Paul/Worthe Real Estate Group.

The price was not disclosed, but two years ago M. David Paul Associates paid about $55 million to purchase from NBC Universal a nearby parcel that was two-thirds smaller.

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