Onni Group Acquires Retail Property In Burbank For $136M

The retail property located at 201 E. Magnolia Blvd in Burbank has been sold for a price of $136,000,000. The transaction occurred on October 29, 2021. The property spans a total area of 1,000,000 square feet, resulting in a price per square foot of $136. The sale was facilitated by brokers Kevin Shannon, Dustin Stolly, Ken White, Bill Bauman, Nick Scribani, and Nader Shishechi of Newmark. The buyer of the property is the Onni Group, while the seller is Barings.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $136,000,000
• Market: Burbank
• Address: 201 E. Magnolia Blvd
• Buyer: Onni Group
• Seller: Barings
• Brokers: Kevin Shannon, Dustin Stolly, Ken White, Bill Bauman, Nick Scribani, and Nader Shishechi - Newmark
• Square Footage: 1,000,000
• Price per Square Foot: $136

The sale of the retail property in Burbank was a significant transaction facilitated by brokers from Newmark. The involvement of Kevin Shannon, Dustin Stolly, Ken White, Bill Bauman, Nick Scribani, and Nader Shishechi highlights the expertise and experience brought to the deal. The buyer, Onni Group, and the seller, Barings, found common ground in the transaction, resulting in the successful transfer of ownership for the property.