Market Report: Burbank

Vacancy has been volatile but is trending upward overall, with a notable increase through 2025 and a sharp jump entering 2026. Leasing activity has been inconsistent, characterized by low baseline volume and occasional spikes rather than sustained demand. The most recent quarter reflects subdued leasing compared to prior peaks, suggesting limited absorption momentum. Deal counts remain low and variable, reinforcing the lack of consistent transactional velocity in the market. Rent levels have declined from elevated 2023 levels and have gradually stabilized near the low $3.00 range, indicating a market correction. Overall, Burbank retail shows signs of softening fundamentals, with rising vacancy and uneven leasing activity pointing to a slower recovery environment.