In the News

Fantasy Facility Purchased For More than $20 Million

By James R. Hagerty, Kemba J. Dunham and Sara Seddon Kilbinger - The Wall Street Journal Online

February 8, 2007 -- A California developer has added a piece of musical history to its portfolio.

Wareham Development, a San Rafael, Calif., commercial property developer, bought Saul Zaentz Media Center in Berkeley for more than $20 million. The 130,000-square-foot property's tenant roster includes Fantasy Records, the independent label with a recording studio used by such artists as Creedence Clearwater Revival, Journey, Carlos Santana and Aerosmith.

Fantasy, founded in 1949, still has some operations at the Berkeley facility, although it is now a part of Concord Music Group and is based in Beverly Hills. Still, the Wareham developers are excited to own a piece of its legacy. "We've all grown up with Creedence Clearwater, so it's great to have this involvement," says Chris Barlow, a partner at Wareham Development.