the sign of a Profitable Property

Market Report: Burbank


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

Rent Rate

Leasing Activity SF

Vacant Available SF


  • Q1 - 2021
  • Q1 - 2022
  • Q1 - 2023

Leasing Market Overview


The Burbank retail submarket is experiencing a vacancy rate of 7.2%, which has seen a recent increase of 1.7% over the past 12 months. The leasing market in this area is faced with negative absorption of 150,000 SF and no net deliveries, indicating a decline in the number of tenants. The current average rent stands at $41.00/SF, representing a 1.4% rise compared to last year. The leasing trend shows a cumulative increase of 5.5% over the past three years, which may affect rental affordability for businesses.

Despite the market’s high demand, there are currently no new construction projects planned in the area. Meanwhile, the sales market has seen 32 sales in the past year, with a market sale price of $472/SF, surpassing its trailing three-year average of $453/SF.


No. Signed Date Start Date Address SF Leased Rent/SF/Mo Months on Market Leasing Rep Company
1 Jan-23 Feb-23 2000-2010 N. Glenoaks Blvd 1,900 2.51 1 Dilbeck Commercial Real Estate
2 Jan-23 Feb-23 616 S. Victory Blvd 2,075 2.25 9 Pegasus Investments
3 Feb-23 Mar-23 220-222 S. Glenoaks Blvd. 1,251 4.35 2 illi Commercial Real Estate
4 Mar-23 Apr-23 4109-4111 W. Olive Ave 2,000 2.45 1 Berkshire Hathaway HomeServices
5 Mar-23 Apr-23 231 N. San Fernando Blvd 1,485 5.28 6 SS Commercial Realty


Successful Tenants

Meet Phil, owner of Freda’s Pizza & Woodfired Kitchen in Westlake Village, CA. His passion for the craft led him and his partner to create Freda’s Pizza & Woodfired Kitchen, a concept that combines traditional techniques and ingredients with a modern twist.

With a prime location secured, Freda’s Pizza & Woodfired Kitchen was able to hit the ground running and quickly establish itself as a popular destination for pizza lovers.