The Burbank Collection
100-116 E. Palm Avenue, Burbank, CA 91502
KBS Strategic Opportunity REIT is participating as a 90% joint venture partner in the $12,800,000 acquisition of The Burbank Collection, a Class A1 retail mixed-use property in Burbank, Calif., totaling 39,428 square feet. Developed in 2008, the Burbank Collection is ideally located within the Burbank Entertainment Village on a retail promenade directly across from the entrance to the fourth highest grossing multiplex AMC theater in the country.
The collateral includes 10 occupied units, one vacant anchor space in shell condition, and one vacant 4,000-square-foot retail space. The rent roll boasts several high quality tenants, such as Pinkberry, Johnny Rockets, Sketchers, Panera Bread, Verizon and Barney’s Beanery. The collateral also includes a 487-stall, underground parking structure, which is offered free to the public.
Investment at a Glance
Location: Los Angeles, CA
Property Type: Class A Retail Mixed-Use
Acquisition Date: December 12, 2012
Purchase Price: $12,800,000
Square Footage: 39,428 SF
Year Built: 2008
Leased Percentage (at the time of Acquisition): 57%