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6220 Selma Avenue

Mill Creek Residential Secures 15-Year Lease With Bristol Farms At Modera Argyle In Hollywood
LEASEDMixed-use

Mill Creek Residential Secures 15-Year Lease With Bristol Farms At Modera Argyle In Hollywood

6220 Selma Avenue

Building Size

23,211 SF

Asset Type

Mixed-use

Closing

Dec 12, 2023

AI

Mill Creek Residential has secured a 15-year lease with upscale grocer Bristol Farms for a 23,211-square-foot space at its Modera Argyle luxury mixed-use community in Hollywood, California. The property, located at 6220 Selma Avenue, is part of a mixed-use development in the heart of Hollywood. The lease agreement will bring the renowned Bristol Farms brand to the vibrant neighborhood, offering residents and visitors access to high-quality groceries and gourmet products.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: Not mentioned
  • Square Footage: 23,211
  • Address: 6220 Selma Avenue
  • Market: Hollywood, Los Angeles

Mill Creek Residential, the landlord, based in Boca Raton, Florida, successfully negotiated the lease with Bristol Farms, the tenant. Lee Shapiro of Kennedy Wilson represented Mill Creek Residential in the deal. This transaction marks a significant addition to the Modera Argyle community, enhancing its appeal and providing convenient access to premium grocery options for the residents of Hollywood, California.

Players

Lee Shapiro

Kennedy Wilson

Broker

$6.7M

vol

5 deals

Broker
Kennedy Wilson
Kennedy WilsonLender
Mill Creek Residential
Mill Creek ResidentialLandlord

Los Angeles Mixed-use Market Snapshot

Boundary boundary · Mixed-use · 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