OMP breaks ground on mixed-use scheme in California

WCN Editorial Team 10 Oct 2019 SOUTH AMERICA BUILDINGS

US-based real estate development company Overton Moore Properties (OMP), in partnership with Invesco real estate, has broken ground on Avion Burbank, the largest infill project in San Fernando Valley, California, for a 1.25ft² mixed-use development.

OMP, which procured the property from Burbank-Glendale-Pasadena Airport Authority in 2016, received approval for the development from the Burbank City Council earlier in 2019.

The business park will include 18 buildings totalling 1.25m² of industrial, office, and retail space, along with a 150-room hotel.

The property, located at the intersection of Hollywood Way and San Fernando Road, offers easy access to multiple transportation services, including a Metrolink stop, Burbank Hollywood Airport, multiple bus lines, and freeway access.

The firm said that the project will be LEED Silver Core and Shell certified, providing a rich environment, which will include multi-purpose walk paths, indoor/outdoor meeting areas, bike share stations, retail establishments, and a boutique hotel.

OMP CEO Timur Tecimer said: “Avion Burbank will offer users a unique environment that incorporates state-of-the-art buildings situated in an interactive work-life environment.

“This innovative campus will also boast multiple outdoor amenities that will assist companies in recruiting and retaining the best talent.”

The project will also include 115 Level 2 electric vehicle (EV) chargers, along with wiring and space to add 62 parking stalls and truck loading docks for future EV chargers.

Commercial real estate services and investment company CBRE vice chairman Matt Hargrove said: “There is unprecedented demand for Class A industrial space driven by large entertainment and content firms and their supply chains.

“The creative office product which is for sale or lease will provide owner-users with a unique opportunity to create a design-to-suit office experience all within a multi-modal master planned setting.

“With its scale and variety, we see a huge opportunity for Avion Burbank to be a location of choice for users looking for a unique environment – all in a single location.”

In 2018, The Spectrum Companies, a commercial real estate agency in Charlotte, North Carolina, collaborated with Invesco Real Estate for the development of a mixed-use project in Charlotte.

-----------------------------------------------------------------------------------------------------------------------------------------------------Image: Illustration of the 1.25ft²Avion Burbank mixed-use development in California. Photo: Courtesy of Overton Moore Properties/PR Newswire.

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