By Jack Stubbs
The city of Burbank – which sits to the west of Glendale and Pasadena and just east of North Hollywood – has seen numerous properties either leased or put up for sale in recent months, with another asset recently listed. In early June, a four-story commercial property was recently put on the market for $22 million, or roughly $282 per square foot.
Located at 601 S. Glenoaks Blvd., the 77,988 square foot property is listed by Lee & Associates on behalf of its owner, an entity affiliated with Los Angeles-based Jamison Properties, according to public records. Principal at Lee & Associates Scott Romick, the leasing agent listed on the flier, did not respond to an emailed request for comment about the property in time for the publishing of this story.
According to the listing, the property has office suites available across its four floors ranging from 889 to 11,000 square feet, with a lease rate of $2.90 per square foot, according to the property listing by Lee & Associates.
The building features newly-renovated common areas and hallways and suites with direct access to private balconies. The suites feature a mix of private offices, conference rooms, and kitchenette and break rooms, as well as work areas.
The property is situated in the heart of Downtown Burbank within walking distance of various dining options and retail amenities. Some of these include Hilton Garden Inn, Ben & Jerry’s, CVS Pharmacy, Bank of America and AMC Burbank 16. In terms of access to transit, the property is close to the State Route 134 portion of the Ventura Freeway, which connects with US-101, and I-5, which provides access to Santa Clarita to the north and beyond.
The listing of the office property comes at a time when the city of Burbank has seen a number of leases signed over the last few months, indicating continued tenant interest in the area.
In February, Thinkwell Group, a leading design and production agency, signed a five-and-a-half-year lease – negotiated by Avison Young – for 14,000 square feet at 2507 Empire Ave. The company will occupy most of the newly-renovated Empire Studios, with the space serving as its new headquarters.
In late April, P3 Post, a full-service post production company, inked an 11,359 square foot lease at an office building at 2921 W. Alameda Ave. The lease was arranged by CBRE.
