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