The Michael D. Eisner office building at Walt Disney Studios in Burbank
Burbank’s 6.6 million-square-foot office market saw 14.7 percent vacancy in the first quarter of 2016, according to a report by Transwestern.
It saw slightly more vacancy than the greater Tri-Cities market, which saw 14.4 percent.
Burbank, home to many entertainment companies, is the most expensive of the Tri-Cities office submarkets. Average rent was $3.37 a square foot a month in the first quarter, compared to $2.57 in Glendale and $3.21 in Pasadena.
The area saw 37,757 square feet of positive absorption and 113,760 square feet of construction in the first quarter.