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Lee & Associates Leases 23,000 SF Office Space In Burbank

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LEASED

California

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Office23,000 SF
Leased 06/23/2023
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LEASED

Lee & Associates Leases 23,000 SF Office Space In Burbank

601 South Glenoaks Boulevard Burbank, California 91502, USA

See Similar Deals
Office23,000 SF
Leased 06/23/2023
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:23,000 SF
Transaction Type:Lease

The property at 601 South Glenoaks Boulevard in Burbank, with a total area of 23,000 square feet, has recently undergone multiple lease transactions. Managed by Jamison Property Services, the building's occupancy has significantly increased from 64% to 85%. Lee & Associates, represented by brokers Scott Romick, Darren Casamassima, and David Kaufman, played a crucial role in boosting the occupancy and have now listed the property for sale. This presents an investment opportunity for potential buyers, as there is potential for value-added returns through rental rate increases.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not mentioned
  • Address: 601 South Glenoaks Boulevard, Burbank
  • Market: Burbank
  • Asset Type: Office
  • Square Footage: 23,000

Lee & Associates, with brokers Scott Romick, Darren Casamassima, and David Kaufman, have successfully increased the occupancy of 601 S. Glenoaks Blvd, Burbank. Their efforts have resulted in a significant boost, taking the occupancy from 64% to 85%. With the property now listed for sale, interested buyers have the opportunity to capitalize on potential value-added returns through rental rate increases.

Players

Darren Casamassima
15 deals$91.6M volume
BROKER

Scott Romick
Lee & Associates
11 deals$88.8M volume
BROKER

David Kaufman
Lee & Associates
9 deals$39.6M volume
BROKER

Details

LEASED
IMAGE: David Kaufman, Scott Romick & Darren Casamassima DATE: 06/23/2023 ADDRESS: 601 South Glenoaks Boulevard MARKET: Burbank ASSET TYPE: Office ~ SF: 23,000 LANDLORD: Jamison Property Services BROKERS: Scott Romick, Darren Casamassima & David Kaufman - Lee & Associates (@LeeAssociatesre) NOTE: Lee & Associates has boosted occupancy at 601 S. Glenoaks Blvd in Burbank, completing multiple lease transactions and increasing the building's occupancy from 64% to 85%. Now listed for sale, the property presents an investment opportunity with potential for value-added returns through rental rate increases.

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Deal Type
Effective Rent (Annual)

$1,318,346.12

Total Lease Value

$13,183,461.21

Net Landlord Cash Flow$1,318,346.12