Market Report: Burbank

BURBANK

Chandler Park, Magnolia Park, McNeil, Media Center, Northwest District, Rancho Adjacent, and Vega.

Rent Rate

Leasing Activity SF

Vacant Available SF

SOURCE: CoStar 

  • Q2 - 2023
  • Q2 - 2024
  • Q2 - 2025

Leasing Market Overview

MEASURING Q2 2025

Burbank remains a key retail and entertainment destination, anchored by a walkable downtown, the country’s largest Ikea, and busy pockets like Magnolia Park, the Media District, and Airport area. Despite its strengths, Burbank has seen retail availability rise by nearly 100 basis points in the past year, reaching 5.3% in Q3, above the 10-year average of 4.7%. This spike was largely driven by the closure of the Kmart on North San Fernando Blvd.

Single-tenant retail properties are seeing higher vacancies, with availability climbing close to 6%, one of the highest points in the last decade. In contrast, multi-tenant properties have held steadier, with availability near 4.7%, among the lowest levels Burbank’s seen in years.

Like most of Los Angeles, Burbank hasn’t seen new retail construction, there’s nothing in the pipeline right now.

On the rent front, the past 12 months saw a slight decline of -1.1%. Over the last five years, rents are up a cumulative 8.2%, just behind LA’s overall 9.0% growth. Looking ahead, rent growth is not expected to rebound soon.

SNAPSHOT OF LEASES SIGNED

No. Signed Date Start Date Address SF Leased Rent/SF/Mo Months on Market Leasing Rep Company
1 Jun-25 Jul-25 2520 W Olive Ave 1,129 $4.85 2 Mos Avison Young
2 Jun-25 Jun-25 910 S Glenoaks Blvd 1,562 $5.08 3 Mos Platinum Realty Group Inc
3 May-25 Jun-25 539 N Glenoaks Blvd 960 $2.06 3 Mos Lee & Associates Commercial Real Estate
4 May-25 Jun-25 2918 W Magnolia Blvd 1,000 $3.70 15 Mos Gribin Properties
5 May-25 Jun-25 6222 San Fernando Rd 200 $8.75 5 Mos Specialized Realty, Inc.
6 May-25 Jun-25 6222 San Fernando Rd 150 $7.63 25 Mos Specialized Realty, Inc.
7 Apr-25 Apr-25 6222 San Fernando Rd 150 $7.63 24 Mos Specialized Realty, Inc.
8 Apr-25 Apr-25 109-135 E Palm Ave 3,269 $3.00 11 Mos CBRE
9 Apr-25 May-25 250 N First St 2,000 $7.50 3 Mos Commercial Asset Group (CAG)
10 Apr-25 May-25 6222 San Fernando Rd 165 $9.06 3 Mos Specialized Realty, Inc.

SOURCE: CoStar 

Successful Client

We recently sat down with Paul, founder of The Collar Club, to hear the powerful story behind his brand and its mission-driven growth. With the help of illi’s Rachel Adams, Paul expanded his concept by leasing a new location for Collar & Comb at 8490 Santa Monica Blvd, West Hollywood, CA 90069.

What began as a deeply personal journey with his service dog Cavalino has evolved into a full suite of luxury pet service brands, including Collar & Comb, Collar & Foam, Collar & Home, Collar & Click, Collar & Chauffeur, and more.

Watch the full story and meet the man behind California’s top-rated pet grooming brand.

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