Vital Statistics
Property Address: Burbank Town Center, 201 E. Magnolia Blvd., Burbank
Square Footage: 94,530
Deal Value: $136 million
Newmark’s Bill Bauman, Kyle Miller, Kevin Shannon and Ken White brokered the $136 million sale of Burbank Town Center. The seller was Barrings and the buyer was Onni. Burbank Town Center is a one-million-square-foot shopping, dining, and entertainment destination situated on over 29 acres across eight full city blocks along the I-5 Freeway in the heart of Downtown Burbank.
Originally built in the 1990s, ownership has paved the way for the next generation of redevelopment to dramatically enhance the overall site with a full spectrum of real estate uses. The property is comprised of three separate four- and five-level parking structures, 16 side-by-side or free-standing buildings and an enclosed three-level regional mall. The enclosed mall has undergone nearly $70 million in interior renovations and TI/LC-related costs since 2016 and is anchored by Macy’s, Sears, and Burlington, occupying 450,000 square feet. Additionally, the seven-property includes eight outparcel buildings anchored by Crunch Fitness, AMC Theaters, Ashley Furniture, Bob’s Discount Furniture, and Barnes & Noble totaling approximately 148,000 square feet.
Vital Statistics
Property Address: Eagle Rock Plaza, 2560, 2626 & 2700 Colorado Boulevard, Eagle Rock
Square Footage: 466,157
Deal Value: $76 million
Newmark arranged the sale of Eagle Rock Plaza, a 466,157 square foot regional shopping center in Los Angeles, California. The property traded for $76 million. Newmark vice chairmen Bill Bauman and Pete Bethea, executive managing director Kyle Miller, senior managing director Glenn Rudy and managing director Anthony Muhlstein represented the seller, LNR. The buyer is a joint venture of Eastern Real Estate and Atlas Capital Group. The shopping center, anchored by Target, Macy’s, Seafood City and Fitness 19, is located at 2560, 2626 & 2700 Colorado Boulevard at the confluence of the 134 and 2 Freeways.
Vital Statistics
Property Address: Marina Shores, 6500 East Pacific Coast Highway, Long Beach
Square Footage: 6.17 acres
Deal Value: $67.9 million
Newmark completed the sale of Marina Shores, a 6.17-acre retail shopping center planned for multifamily redevelopment. The property sold for $67.9 million. Newmark co-head of capital markets Kevin Shannon, vice chairman Bill Bauman, executive managing director Ken White, senior managing director Chris Benton and managing director Anthony Muhlstein represented the seller Regency Centers, and the buyer, Onni. Located at 6500 East Pacific Coast Highway, the property presents unobstructed views of the marina in the Belmont Shore submarket.
