455 N Moss St, Burbank, CA 91502
Marcus & Millichap is pleased to present 455 N Moss St, an approximate 14,471 gross square foot Office Building, situated on a 0.47-acre BUM2 zoned parcel. Positioned just two blocks west of the 5 Freeway in the heart of Burbank, this building is ideally located in the entertainment center of the San Fernando Valley, billed as the Media Capital of the World. Built in 1989, this is an extremely rare opportunity for either an Owner/User or an Investor.
455 N Moss is currently 100% occupied by Allied Universal, a leading security and facility services company with more than 200,000 employees. With revenues exceeding $8.5 billion and offices located throughout the nation as well as internationally (Canada, Mexico, United Kingdom), Allied Universal is responsible for protecting more than 50,000 client sites. They are currently paying a $1.66/SF/NNN and their initial lease term expires in September of 2021 (one 3-year option at FMV). This gives an investor the opportunity to renegotiate a brand new long term lease or the option to re-tenant the asset. There are approximately 41 parking spaces and additional un-metered street parking along Cypress Ave and Moss St.
The overall submarket boasts strong fundamentals with the current submarket vacancy rate at 4.3%, which is amongst the lowest seen today in Los Angeless office submarkets. With muted supply additions in the recent decade, rent growth should continue to surpass the overall metro into the future.
Marcus & Millichap is pleased to present 455 N Moss St, an approximate 14,471 gross square foot Office Building, situated on a 0.47-acre BUM2 zoned parcel. Positioned just two blocks west of the 5 Freeway in the heart of Burbank, this building is ideally located in the entertainment center of the San Fernando Valley, billed as the Media Capital of the World. Built in 1989, this is an extremely rare opportunity for either an Owner/User or an Investor.
455 N Moss is currently 100% occupied by Allied Universal, a leading security and facility services company with more than 200,000 employees. With revenues exceeding $8.5 billion and offices located throughout the nation as well as internationally (Canada, Mexico, United Kingdom), Allied Universal is responsible for protecting more than 50,000 client sites. They are currently paying a $1.66/SF/NNN and their initial lease term expires in September of 2021 (one 3-year option at FMV). This gives an investor the opportunity to renegotiate a brand new long term lease or the option to re-tenant the asset. There are approximately 41 parking spaces and additional un-metered street parking along Cypress Ave and Moss St.
The overall submarket boasts strong fundamentals with the current submarket vacancy rate at 4.3%, which is amongst the lowest seen today in Los Angeless office submarkets. With muted supply additions in the recent decade, rent growth should continue to surpass the overall metro into the future.
