GPI Sheds Burbank Retail Asset

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Los Angeles

los Angeles

GPI Cos. sold the retail portion of the Burbank Collection, a mixed-use property in the entertainment district of Burbank. The investor bought the property in 2013 for $ 12.8 million and sold it to a local investor for $ 26.8 million.

The Burbank Collection is a mixed-use property with 118 condos and 39,400 square feet of retail space. After purchasing the property, GPI invested $ 3 million in capital improvements, including modernizing the facade.

The yard house anchors the property on an area of ​​12,000 square meters at the southern end of the property. The remaining renter list includes The Boiling Crab, Sketchers, Panera Bread, Pinkberry, and Steak & # 39; n Shake.

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