Theater-Anchored Retail Center for Sale in Burbank, California

Monday, July 18, 2016

Update:  This property is no longer available for sale. Please click here to visit our current real estate investment offerings.

On behalf of the owner, HFF is marketing for sale The Burbank Collection, a 39,508-square-foot retail center located along San Fernando Boulevard in the heart of the entertainment district in Burbank, California. The property is part of a larger, mixed-use development that is anchored by a 16-screen AMC Theatre and includes 118 fully-leased luxury condominiums and a variety of complementary entertainment-driven tenants.

The retail property for sale benefits from a high influx of daily visitors, as more than 10 million people visit downtown Burbank annually. The Burbank Collection boasts a Walk Score® of 89, and its unique selection of retail and restaurant amenities, coupled with its well-designed layout, provides its millions of visitors with a premier lifestyle center experience that solidifies its presence in this thriving market. The 90-percent-occupied retail center is home to a variety of tenants, including Panera Bread, Sketchers, Pinkberry, The Boiling Crab, Steak 'n Shake, Barney's Beanery and Yard House.

The commercial property for sale is located at 250 N. 1st Street and 100-152 East Palm Avenue just off Interstate 5. With more than 150,000 residents within a three-mile radius of the property, the tenants occupying the retail building recognize the exceptional volume of sales and consistent consumer demand. The property is being delivered unencumbered by debt, providing an investor to take full advantage of the low interest rates and enhanced leverage returns.

Retail Property Investment Benefits

  • Top-Ranked Regional Sales: The city of Burbank is ranked in the top 10 of Los Angeles County cities in terms of retail sales. The property features several high-volume retailers, including Panera Bread, Pinkberry and a Barney’s Beanery, all of which have annual sales volumes greater than $400 per square foot. The property also benefits from top-performing retailers in the vicinity, including Buffalo Wild Wings, Chipotle Mexican Grill, AMC Theatre, IKEA and In-N-Out Burger. With The Burbank Collection AMC Theatre being the No. 1 theater in Southern California, its regional draw provides exceptional daytime and evening traffic that benefits the overall center. Additionally, according to the Los Angeles County Economic Forecast, overall retail sales are expected to increase by 7.5 percent from 2015 to 2016.
  • High-Traffic Pedestrian-Oriented Project with Built-In Consumer Base: The Burbank Collection is located in the heart of downtown Burbank, taking advantage of the pedestrian-oriented layout, which consistently drives high traffic to the project. In addition, the residential portion located above the retail shops activates the streetscape and increases the demand for retail uses. Together, these factors provide significant daytime traffic drivers that benefit The Burbank Collection.
  • National Tenant Roster with Top-Performing AMC (Shadow) Anchor: Approximately 75 percent of the rentable square feet is currently leased by nationally-recognized tenants with a staggered rollover schedule. Furthermore, The Burbank Collection is adjacent to the non-owned AMC Theatre, which brings in more than $25 million in box office revenues, is the highest-grossing theater in Southern California and is consistently one of the top-performing AMC Theatre's in the country with approximately 2.25 million visitors a year. 
  • High Barriers to Entry and Affluent Surrounding Demographics: Along with the nearby population being immense, the area benefits from its young, educated crowd; the median age within the area is 40 years and more than a third of the population reports having a college education or higher. The city also benefits from the out-of-town consumer; the area is proximate to both the Bob Hope Airport and the Metrolink Station. 

The Burbank Collection offers potential buyers the opportunity to acquire one of the most highly-visited retail destinations in the Burbank entertainment district. For more information on this or other commercial real estate listings in Southern California, contact Gleb Lvovich or Bryan Ley in HFF’s Orange County and Los Angeles offices. For debt guidance, contact Greg Brown.

Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker license with the California Department of Real Estate, License Number 01385740

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