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Tuesday, Oct 3, 2023

Pair of Burbank Office Buildings Fetch $5.7 Million

Two Burbank office buildings have sold for a combined $5.7 million.Smart Business Solutions, a home health and consulting provider, purchased 4115-4119 W. Burbank Blvd. for $3 million, or $410 per square feet.An undisclosed investor bought 120 Cypress Ave. for $2.7 million.Lee & Associates LA North/Ventura negotiated the sale of both properties. Darren Casamassima, principal of the Office Brokerage Group at the brokerage, represented entities in both transactions.The two-story Burbank Boulevard site, spanning 7,319 square feet, was built in 1958 and renovated in 2014.

The two-story Cypress Avenue location has 8,188 square feet of creative office space and was constructed in 2002.Comparable office building sales include 1122 N. Brand Ave. in North Hollywood, a 5,200-square-foot recording studio that sold for $1.9 million, or $370 per square foot, in February 2020; and 1901 W. Magnolia Blvd. in Burbank, a  building spanning 7,634 square feet which sold for $3.5 million, or $458 a square foot, in April 2020.

Michael Aushenker
Michael Aushenker
A graduate of Cornell University, Michael covers commercial real estate for the San Fernando Valley Business Journal. Prior to the Business Journal, Michael covered the community and entertainment beats as a staff writer for various newspapers, including the Jewish Journal of Greater Los Angeles, The Palisadian-Post, The Argonaut and Acorn Newspapers. He has also freelanced for the Santa Barbara Independent, VC Reporter, Malibu Times and Los Feliz Ledger.

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