Burbank Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $49.02 2024 Avg. Asking Rent
  • -1.94% Y-o-Y Avg. Asking Rent Change
  • 23.81% 2024 Office Vacancy Rate

Burbank office price per square foot in 2024 was $49.02 on average. This marked a -1.94% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 23.81% across all asset classes combined.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • Burbank Class A & A+ Office Space$53.97
  • Burbank Class B Office Space$30.95
  • California Class A & A+ Office Space$60.31
  • California Class B Office Space$38.42
  • California Class C Office Space$26.20

Burbank, CA Office Asking Rents by Class

2024 Office Vacancy Rates in Burbank

Submarket Asking Rents Vacancy Rates
Burbank $49.02 23.98%
Antelope Valley $28.28 3.85%
Data provided by Yardi Research
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Burbank market was 23.81% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Burbank was 3.85% in the Antelope Valley submarket, while the highest office vacancy in the market was 23.98%, recorded in Burbank.

Office Spaces for Rent in California

Coworking Spaces in California

2024 Office Construction in Burbank, CA

Largest Office Properties Recently Completed in Burbank
Office building Address SF Completed
3051-3055 N Hollywood Way 3051-3055 N Hollywood Way, 91505 18,750 2022
3031-3035 N Hollywood Way 3031-3035 N Hollywood Way, 91505 16,500 2022
The Pointe 2900 W. Alameda Blvd., 91505 473,672 2009
Providence Saint Joseph Medical Center - Burbank Medical Plaza II 191 South Buena Vista Street, 91505 94,427 2008
Media Studios North - Phase IV 3333 West Empire Avenue, 91504 200,095 2005
Burbank Civic Plaza 250 East Olive Avenue, 91502 76,347 2005
250 E Olive Blvd 250 E Olive Blvd, 91502 76,347 2005
Providence Saint Joseph Medical Center - Burbank Medical Plaza I 201 South Buena Vista Street, 91505 67,962 2004
Burbank Empire Center - 2350 West Empire 2350 West Empire Avenue, 91504 99,125 2002
120 W Cypress Ave 120 W Cypress Ave, 91502 8,188 2002

Worth noting among recent office completions on the Burbank market is 3051-3055 N Hollywood Way, which is currently the largest new office development in the city, at 18,750 square feet.

Data provided by Yardi Research

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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by Yardi Research Data, a market intelligence solution which offers comprehensive real market knowledge on all Burbank commercial properties sized 25,000 square feet or larger.

While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor Yardi Research Data can guarantee that the information provided is complete.