Submarket Snapshot: Burbank’s office market in Q1 2016

Los Angeles /
Apr.April 14, 2016 05:00 PM

Burbank’s 6.6 million-square-foot office market saw 14.7 percent vacancy in the first quarter of 2016, according to a report by Transwestern.

It saw slightly more vacancy than the greater Tri-Cities market, which saw 14.4 percent.

Burbank, home to many entertainment companies, is the most expensive of the Tri-Cities office submarkets. Average rent was $3.37 a square foot a month in the first quarter, compared to $2.57 in Glendale and $3.21 in Pasadena.

The area saw 37,757 square feet of positive absorption and 113,760 square feet of construction in the first quarter.


Related Articles

arrow_forward_ios
Burbank Studios with Blackstone's Nadeem Meghji and Jeffrey Worthe (Google Maps)
Blackstone partners with Worthe Real Estate on 500K sf office tower
Blackstone partners with Worthe Real Estate on 500K sf office tower
Jeffrey Worther and Blackstone’s Jonathan Gray with (clockwise from top left) Media Studios, The Point, 3800 Alameda and Central Park (Getty)
Here’s what tenants pay in Blackstone and Worthe’s Burbank office portfolio
Here’s what tenants pay in Blackstone and Worthe’s Burbank office portfolio
Netflix CEO Reed Hastings with the building (Credit: BENOIT TESSIER/POOL/AFP via Getty Images)
Netflix inks giant lease in Burbank for first dedicated animation studio
Netflix inks giant lease in Burbank for first dedicated animation studio
The Tower at Burbank at 3900 West Alameda Avenue with Jeffrey Worthe and Blackstone Group President Jonathan Gray (Getty, Google Maps)
Here’s what tenants pay at Blackstone and Worthe’s Tower at Burbank
Here’s what tenants pay at Blackstone and Worthe’s Tower at Burbank
Charles Tourtellotte, Chris Tourtellotte, and a rendering of the project
LaTerra closes $40M dirt deal for big Burbank project
LaTerra closes $40M dirt deal for big Burbank project
Bellwether Enterprise Real Etate Executive Vice President Tom Kenny and Talaria at Burbank
PGIM inks $127M mortgage for Burbank mixed-use complex near Warner Bros. Studios
PGIM inks $127M mortgage for Burbank mixed-use complex near Warner Bros. Studios
LaTerra drops 15-story hotel tower from sprawling mixed-use project in Burbank
LaTerra drops 15-story hotel tower from sprawling mixed-use project in Burbank
LaTerra drops 15-story hotel tower from sprawling mixed-use project in Burbank
Burbank gives green light to massive business park project
Burbank gives green light to massive business park project
Burbank gives green light to massive business park project
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...