Construction began earlier this week for a mixed-use project billed as the San Fernando Valley's largest infill development in two decades.
Avion Burbank, located adjacent to Hollywood Burbank Airport, is being developed by Overton Moore Properties and Invesco Real Estate. Plans call for the construction of 18 buildings featuring 1.25 million square feet of industrial space, offices, and retail, as well as a 150-key hotel.
With a combination of office and industrial space on one property, the project's backers see it as an opportunity to fill a "unique niche," in the Los Angeles real estate market.
"The market is really hungry for this type of smart, integrated facility solution," said Matt Hargrove, a Vice Chairman of CBRE. "There is unprecedented demand for Class A industrial space driven by large entertainment and content firms and their supply chains."
Avion will span an approximately 60-acre site at the intersection of Hollywood Way and San Fernando Road, just south of the Burbank Airport - North Metrolink station. It is imagined as a campus-style setting, with walking paths and outdoor meeting spaces connecting the various uses across the property.
Completion is anticipated in late 2020, according to a project website.
- Burbank (Urbanize LA)