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SBH Real Estate Group Acquires Vacant Retail Building in Burbank, CA for $3.65 Million

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LOS ANGELES - Rezul -- SBH Real Estate Group has acquired a vacant single-tenant retail building, which formerly served as a US Bank branch in Burbank, CA for $3.65 million.

Located on a 22,406-square-foot corner lot at 1750 West Olive at the intersection of West Olive Avenue and Orchard Street, the 5,324-square-foot, one-story building includes a grandfathered drive-thru. The attribute was a top selling point as getting a new drive-thru location approved in Burbank is very challenging, according to SBH Managing Partner Eric Silverman.

"This asset has everything going for it," said Silverman.   "It is a high-visibility asset on a well trafficked intersection, with an existing drive thru in the heart of Burbank, which will be attractive to a wide variety of potential retail tenants."

Originally built in 1974, the asset is situated on a main thoroughfare leading to and from the downtown Burbank shopping and dining district, with excellent street visibility. It includes two monument signs at the northeast and southwest corners of the property.

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Located one mile west of the 1-5 Freeway in Burbank, the property provides a parking ratio of 4.5: 1,000 square feet, totaling 24 parking stalls.

This is SBH's second retail acquisition in Burbank in the past two years.   The firm paid $5.25 million for a 29,050-square-foot site and vacant retail building at 810-822 South San Fernando Boulevard from the Pacific Group in 2018. SBH subsequently renovated the property, originally built in 1939, and leased it to Harbor Freight Tools.

Lee Shapiro of Kennedy Wilson brokered the transaction.

About SBH Real Estate Group:

SBH Real Estate Group is a Los Angeles-based real estate investment firm specializing in the acquisition and disposition of value-add retail properties throughout Southern California and is known for its skill at closing quickly on high-opportunity deals.

Contact
Bruce Beck
DB&R Marketing Communications, Inc.
***@dbrpr.com


Source: DB&R Marketing Communications, Inc.
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Filed Under: Real Estate

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