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Comcast Buys Universal City Tower for $420 Million

Comcast Corp. has purchased 10 Universal City Plaza, the 35-story office building that looms over Universal Studios, for a reported $420 million

Comcast’s NBCUniversal operations already occupy a significant part of the property, which was sold by Normandy Real Estate Partners.

A spokeswoman for NBCUniversal confirmed the deal but not the financial details. The Los Angeles Times reported the sale price, citing unnamed sources.

“NBCUniversal continues to explore real estate opportunities as they arise near its ongoing business operations in Universal City,” the company said in a statement. “The company proceeded with purchasing 10 UCP given the current market conditions, the building is at the gateway to our property, and NBCUniversal is currently the majority tenant.”

The building was constructed in 1976, seven years after the 15-story Black Tower was built at 100 Universal City Plaza. Vivendi Universal, a former owner of NBCUniversal, acquired the taller building at one point and sold it in 2003 to Beacon Capital Partners and CarrAmerica Realty Corp. for a reported $190 million.

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