2020 Office Space Rent & Sales
- $44.16 2020 Avg. Asking Rent
- 4.85% Y-o-Y Avg. Asking Rent Change
- 7.11% 2020 Office Vacancy Rate
Burbank office price per square foot in 2020 was $44.16 on average. This marked a +4.85% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 7.11% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Burbank Class A Office Space$47.60
- Burbank Class B Office Space$40.01
- California Class A Office Space$55.92
- California Class B Office Space$35.12
- California Class C Office Space$23.50
Burbank, CA Office Asking Rents by Class
2020 Office Construction in Burbank, CA
- Burbank, CA Total SF completed in 2020
- Burbank, CA Total SF under construction in 2021 142,250
During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Burbank office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space. Looking forward, development activity throughout 2021 is estimated to add 142,250 square feet of office space to the market, before year-end.
| Office building | Address | SF | Completed |
|---|---|---|---|
| Avion Burbank - Office - Buildings 7, 8 & 9 | 3001 North Hollywood Way, 91505 | 39,500 | 2022 |
| Avion Burbank - Office - Buildings 5 & 6 | 3001 North Hollywood Way, 91505 | 33,000 | 2022 |
| Avion Burbank - Office - Buildings 3 & 4 | 3001 North Hollywood Way, 91505 | 33,000 | 2022 |
| Avion Burbank - Office - Buildings 1 & 2 | 3003 North Hollywood Way, 91505 | 36,750 | 2021 |
| 2777 North Ontario Street | 2777 North Ontario Street, 91504 | 128,600 | 2016 |
| 203 West Olive Avenue | 203 West Olive Avenue, 91502 | 113,760 | 2016 |
| 2300 West Empire Avenue | 2300 West Empire Avenue, 91504 | 351,300 | 2009 |
| The Pointe | 2900 West Alameda Avenue, 91505 | 480,645 | 2008 |
| Providence Saint Joseph Medical Center - Burbank Medical Plaza II | 191 South Buena Vista Street, 91505 | 94,427 | 2008 |
| Pinnacle II | 3300 West Olive Avenue, 91505 | 231,000 | 2005 |
Worth noting among recent office completions on the Burbank market is Avion Burbank - Office - Buildings 7, 8 & 9, which is currently the largest new office development in the city, at 39,500 square feet.
See reports for nearby markets
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 2020 through December 31st 2020. Construction pipeline data represented herein is valid as of April 2021. The information on this page was compiled using data provided by CommercialEdge, 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 CommercialEdge can guarantee that the information provided is complete.