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The Real Deal Los Angeles

KBS Capital is shopping its 40K sf Burbank retail building

Property could sell for as much as $35M: sources

July 13, 2016 09:30AM

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The property at 250 North 1st Street (credit: CoStar)

250 North 1st Street in Burbank (credit: CoStar)

Newport Beach-based investment firm KBS Capital is now marketing its Burbank retail space for up to $35 million. 

As part of the mixed-use Burbank Entertainment Village, the 40,000-square-foot property at 250 North 1st Street is currently 90 percent occupied.

Tenants include Panera Bread, Pinkberry, Sketchers and Barney’s Beanery, Real Estate Alert reported. The building has a 723-space parking garage.

Built in 2007, the Burbank Entertainment Village also includes a movie theater and 118 luxury condos. KBS acquired the building in question for $12.8 million in 2012.

An HFF team is representing KBS.

Cypress Equities recently acquired a majority stake in the nearby Burbank Town Center shopping plaza for $250 million. The firm plans to invest an additional $55 million in renovations. [REAlert] — Cathaleen Chen

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