Premier Business Centers




The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
July 16, 2019
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?





LOS ANGELES COUNTY NEWS
Printer-friendly Version   Email an Associate
Burbank Retail Building Trades for over $500/sf

4/25/19

A 14k sf retail property in Burbank has sold for $7.78 mil, or $556/sf. The property, located at 822 S San Fernando Blvd, is occupied by Harbor Freight and Tools.

The property is in a highly desirable section of Burbank just east of the Golden State Freeway (5) at the Alameda Ave on/off ramp, which is walking distance to a wide variety of amenities and services. Across the street is the number one IKEA in the nation, as well as a major Tesla facility, which was recently expanded. In addition, the property is also close to a Ralphs, Trader Joe's, Walgreens, CVS, and Starbucks, as well as the Burbank Town Center.

The asset was sold by L.A.-based SBH Real Estate Group Inc, which acquired the building in the first quarter of 2018 and proceeded to significantly renovate and improve the property. While there was much tenant demand for a variety of uses, including drive-thru users, the property was leased relatively quickly to Harbor Freight and Tools, which signed a 15-year deal with 10% rent escalations every five years.

Previously, the property had been occupied by an ethnic grocer, but was vacant at the time SBH acquired it. The renovations that were completed include the following: a brand new roof; updated electrical & lighting systems; new restrooms; new HVAC system, and many other building upgrades needed to convert the structure to a more functional retail store.

Adam Friedlander and Kien Tsoi of JLL listed the property and represented SBH in the transaction. Jeff Gerlach from CBRE represented the buyer.





Return to the Archive page


 


 


 
The Foto Finisher

 
 





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2019 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media