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Burbank Office Rent Price & Sales Report

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.

Largest Office Properties Recently Completed in Burbank
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.

Data provided by Commercial Edge

See reports for nearby markets

  • Los Angeles Office Rent Price
  • Santa Monica Office Rent Price
  • Pasadena Office Rent Price
  • Thousand Oaks Office Rent Price
  • Long Beach Office Rent Price
  • Beverly Hills Office Rent Price
  • Torrance Office Rent Price
  • Anaheim Office Rent Price

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.

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