The retail portion of the Burbank Collection, a mixed-use development in downtown Burbank, has sold to an undisclosed investor for $25.9 million, or roughly $659 a square foot, according to a report from CoStar Group.
Anchored by the Yard House, the 39,305-square-foot structure houses multiple restaurants. The three-story Burbank Collection, located at 250 N. First St. in Burbank, stands on 1.9 acres at the corner of San Fernando Boulevard and Palm Avenue.
The Burbank Collection building was constructed in 2008.
Ken McLeod of CBRE Group represented the sellers, real estate investment trust KBS Strategic Opportunity REIT Inc. and Goldstein Planting Investments, a full-service commercial real estate investment and operating platform based out of Los Angeles.