In 2016, Gryphon Capital identified a unique opportunity to completely transform a historic building in the heart of the Magnolia Park community of Burbank, an eclectic shopping and dining area, with one-of-a-kind boutiques, eateries, and services. Utilizing our strong relationship with Target Corporation, we created a neighborhood-friendly 24,480 SF Target store designed to cater to the needs of the community. Originally an Akron department store in the 1950s until the 1980s, the building was more recently used for post-production editing.

Highlights

• Reposition of 1950’s-era department store
• One of the first Southern California new format Target locations
• Designed to accommodate alternative forms of transportation including biking, walking and scootering
• Created approximately 85 jobs and increased city tax base
• The 2023 population within three miles was 102,000 with a median age of 42
• Average household income within a one-mile range is $129.9k projected to increase to $142.4k by 2028