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Thursday, Feb 2, 2023
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Burbank Airport Puts Adjacent Land Up for Sale

The Burbank Bob Hope Airport officially put on the market Tuesday a 59-acre parcel of adjacent land for commercial and office development. The Burbank-Glendale-Pasadena Airport Authority is working with real estate broker CBRE Group Inc. to find a buyer for the property. The new owner will have to work with Burbank on planning uses for the land. The airport authority acquired the land in 1999 as part of a 108-acre parcel previously owned by Lockheed Corp. The authority set aside 49 acres to use for a new terminal building and placed the remaining 59 acres into a trust until it was decided what to do with it. The authority and Burbank had agreed the 59 acres would be sold off if the two sides did not come to an agreement in March on how to develop the property. The land is one of the largest available transit-oriented development sites in Southern California. It is close to Metrolink and Amtrak stations, buses operated by the L.A. County Metropolitan Transportation Authority, BurbankBus, the proposed California High Speed Rail and multiple freeways. “The authority is confident that CBRE will do an excellent job of marketing this property and that it will draw considerable interest in the coming months,” said Authority President Steve Madison in a prepared statement. The authority, meanwhile, is still pursuing a new terminal on the 49 acres it owns. The terminal would be capped at 14 gates and its size restricted to no larger than 355,000 square feet.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.
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