Larry McGuire Of MML Hospitality Leases Retail Space At Cross Creek Ranch Malibu With Landlord Bryan Gordon
23465 Civic Center Way
Building Size
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Asset Type
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Closing
Apr 22, 2025
AI
The property asset involved in this transaction is a retail space located at 23465 Civic Center Way, Malibu, known as Cross Creek Ranch. This retail space encompasses an area of 3,119 square feet, along with an additional 1,640 square feet designated for patio use. The market for this asset is Malibu.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: Not specified
- Landlord: Bryan Gordon - Pacific Equity Partners
- Tenant: Larry McGuire - MML Hospitality - Clark’s Oyster Bar
- Broker: Jay Luchs - Newmark
This lease transaction marks a significant development as Cross Creek Ranch is set to open in August 2025. It will feature a total of 70,000 square feet dedicated to retail and restaurant space, with an additional 40,000 square feet allocated for office use. The design has been crafted by the architect firm Marmol Radziner, known for their contemporary approach, and includes various future tenants such as Kith, Frankie’s Bikinis, and Be Kind Pilates, among others.
Players
Market CRE Market Snapshot
Boundary boundary · CRE · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93