Burbank, CA Office Overview
The Burbank real estate market neighbors the Chatsworth, North Hollywood, and Panorama City commercial real estate markets. With a population of about 105,000 residents, the city is also part of the greater Los Angeles metropolitan area that over 13 million people call home. Its office market is the second largest in the San Fernando Valley and sees consistently robust demand from a variety of business sectors.
As of mid-2017, the Greater Burbank office market encompasses over 8 million square feet in properties larger than 50,000 square feet. The real estate market draws demand from numerous industry segments, including the entertainment and production industry.
Burbank, CA Office Inventory Description
Located only 12 miles northwest of Downtown Los Angeles and within a few miles of Hollywood, Burbank is nicknamed 'The Media Capital of the World'. As such, demand for Class A office space is consistent year in and year out. Over 70% of the inventory is Class A or A+, while Class B product accounts for 2.2 million square feet of the total square footage.
Investment-grade properties in the city can be found mainly along the I-5 Freeway that bisects the city, and clustered along Route 134 and West Olive Avenue. Buildings such as 4000 Alameda, the Media Studios North - Phase IV, and The Pinnacle Phase I at 3400 West Olive Avenue are just three examples of highly-sought assets in the area.
Burbank, Los Angeles County, CA Commercial Inventory Breakdown
Office Spaces
Total: 10,426,901 SF
By square footage range:
- 50k to 100k SF: 1,801,254 SF / 17.28% of total office
- 100k to 500k SF: 8,625,647 SF / 82.72% of total office
By class:
- Class A: 6,881,283 SF / 66% of total office
- Class B: 2,515,785 SF / 24.13% of total office
Top 10 Largest Office Buildings
in Burbank
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| The Tower | 3900 West Alameda Avenue, 91505 | 489,120 | 1989 |
| The Pointe | 2900 West Alameda Avenue, 91505 | 480,645 | 2008 |
| The Pointe - Phase II | 2800 West Alameda Avenue, 91505 | 480,000 | n/a |
| Studio Plaza | 3400 West Riverside Drive, 91505 | 456,205 | 1988 |
| Second Century Project - Building 2 | 100 California Street, 91523 | 445,000 | 2023 |
| 3800 Alameda | 3800 West Alameda Avenue, 91505 | 422,949 | 1984 |
| ABC Riverside Building | 2300 West Riverside Drive, 91505 | 396,000 | 2001 |
| Pinnacle I | 3400 West Olive Avenue, 91505 | 393,776 | 2001 |
| Second Century Project - Building 1 | 100 California Street, 91523 | 355,000 | 2022 |
| Warner Bros. Bridge Building | 4000 Warner Blvd, 91522 | 270,000 | 1994 |
Most Recently-Built Office Buildings
in Burbank
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| 2777 North Ontario Street | 2777 North Ontario Street, 91504 | 128,600 | 2016 |
| 203 West Olive Avenue | 203 West Olive Avenue, 91502 | 113,760 | 2016 |
| 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 |
| Media Studios North - Phase IV | 3333 West Empire Avenue, 91504 | 200,095 | 2005 |
| Media Studios North - Phase V | 3355 West Empire Avenue, 91504 | 175,799 | 2005 |
| Providence Saint Joseph Medical Center - Burbank Medical Plaza I | 201 South Buena Vista Street, 91505 | 67,962 | 2004 |
| Burbank Empire Center - 2400 West Empire | 2400 West Empire Avenue, 91504 | 134,784 | 2002 |
| Burbank Empire Center - 2350 West Empire | 2350 West Empire Avenue, 91504 | 99,125 | 2002 |
Burbank, CA Green Office Space
Class A tenants are increasingly looking for green workspaces, and developers in Burbank are definitely meeting this demand. Of the 50 office buildings in the city larger than 50,000 square feet, 22% are green buildings that contribute a total of over 3.2 million square feet of LEED-certified, Energy Star-rated, and energy-efficient space to the market. One example of a office building in Burbank is the. Located near the intersection of South Buena Vista Street and West Olive Avenue, the LEED-certified 2600 Olive was constructed in 1986 and has nearly 152,000 square feet of green office space.
In such an environmentally friendly state, it should come as no surprise to learn that California is home to six of the top 30 green office markets in the country. According to the 2017 National Green Building Adoption Index, the percentage of LEED, Energy Star, and green certified buildings has increased by about 33% across these top 30 U.S. markets over the past 12 years.
Burbank, CA's Top Office-Using Sectors
The Burbank commercial real estate market sees extremely strong demand from the entertainment, healthcare, government sectors and larger corporate office users.
- Entertainment – companies such as Walt Disney Company, Warner Bros., Nickelodeon Animation Studios, and the Cartoon Network Studios.
- Healthcare – organizations include the Providence Saint Joseph Medical Center.
- Government – The Bob Hope Airport and the City of Burbank.
- Corporate Office – including Yahoo!, American Broadcasting Company, Foto-Kem Industries, and Crane/Hydro Air Company.
Burbank Demographics
Population
- Total Population109,527
- Male Population(48.7 %) 53,294
- Female Population(51.3 %) 56,233
- Median Age38.00
Income/Financial
- Average Household Income$96,659
- Median Household Income$73,722
- Median Income Under 25$23,167
- Median Income 25-44$79,718
- Median Income 45-64$95,990
- Median Income Over 65$43,125