Credit union pays big bucks for office space

Universal City Studios Credit Union has acquired a 40,542-square-foot multitenant office building in Burbank, Calif., for $12.5 million, where it plans to establish a new branch and headquarters location.

Located at 175 E. Olive Ave., the building was 75 percent occupied at the time of purchase.

175 Olive LLC sold the property, which also includes underground parking.