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 2025Burbank 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
