Big Burbank Project Clears Its Final Hurdle at City Hall.ANOTHER void left by the decline of the aerospace industry is a big step closer being filled. The Burbank City Council recently gave its final approval to a project proposed by Zelman Development Co., which is expected to soon close escrow on a 103-acre site in Burbank owned by Lockheed Martin For the former company, see . Lockheed Martin (NYSE: LMT) is a leading multinational aerospace manufacturer and advanced technology company formed in 1995 by the merger of Lockheed Corporation with Martin Marietta. Corp. The property is bordered by Buena Vista Street, Empire Avenue, Victory Place and Victory Boulevard Victory Boulevard is a major thoroughfare on Staten Island, measuring approximately 8.0 miles (12.87 km) and stretching from the west shore community of Travis to the upper east shore communities of St. George and Tompkinsville. . Zelman plans to break ground on a massive retail and office complex called the Burbank Empire Center by early November. No comparable development site in size or location exists in Burbank, where office space is in high demand. As planned, the retail component will total 750,000 square feet and include major tenants like Target and Costco, each taking up about 150,000 square feet. Lowe's Home Improvement will occupy another 135,000 square feet. The office space will be housed in four or five low-rise buildings in a campus setting, with roughly 500,000 square feet at final buildout, said Paul Stockwell, corporate managing director for Julien J. Studley Inc. The retail project will also feature three restaurants: Home Town Buffet, Roadhouse road·house n. An inn, restaurant, or nightclub located on a road outside a town or city. roadhouse Noun a pub or restaurant at the side of a road Noun 1. Grill, and TGI TGI Tribunal de Grande Instance TGI Target Group Index TGI Thank God It's Friday (US restaurant chain) TGI Tracheal Gas Insufflation TGI Tumor Growth Inhibition TGI Trato Gastrointestinal (Portugese) Friday's. Other tenants will include a Sears Great Indoors store. The pace of leasing activity will determine how quickly the office buildings go up. Bill Boyd Bill Boyd is:
garbage down, shovel in, bolt down eat - take in solid food; "She was eating a banana"; "What did you eat for dinner last night?" the space. "Every project in Burbank and in the Tri-Cities market has started construction without any pre-leasing," Boyd said. "The need for office space in Burbank has been critical for years. Vacancy continues to remain under 5 percent for existing office space." The site was previously used by Lockheed to build commercial and military aircraft from the 1920s until it shuttered its operations in 1991, setting the stage for years of environmental cleanup The process of removing solid, liquid, and hazardous wastes, except for unexploded ordnance, resulting from the joint operation of US forces to a condition that approaches the one existing prior to operation as determined by the environmental baseline survey, if one was conducted. and lengthy reviews. |
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