facebook

traded

+ Submit
Home

/

Deals

/

California

/

Retail

/

Lease

/

1011 Stadium Drive

Stanley Kroenke And Wilson Meany Lease Retail Space To Martin’s Cocina Y Cantina And Others
LEASEDRetail

Stanley Kroenke And Wilson Meany Lease Retail Space To Martin’s Cocina Y Cantina And Others

1011 Stadium Drive

Building Size

21,963 SF

Asset Type

Retail

Closing

Sep 23, 2024

AI

The property involved in the transaction is a retail asset located at 1011 Stadium Drive in Inglewood, comprising a total square footage of 21,963. Situated in a mixed-use district that features significant developments, the property is part of the larger Hollywood Park area, which encompasses various retail, office, residential, and entertainment spaces, including the nearby SoFi Stadium.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Square Footage: 21,963
  • Address: 1011 Stadium Drive
  • Market: Inglewood
  • Landlord: Stanley Kroenke & Wilson Meany
  • Tenant: Martin’s Cocina y Cantina, The Meeting Spot & Phenix Salon Suites
  • Broker: Jack Nathan - Kennedy Wilson

The deal features new tenants that will enhance the retail offering at the location. Martin’s Cocina y Cantina will occupy 3,600 sq. ft., The Meeting Spot will take 2,800 sq. ft., while Phenix Salon Suites will occupy 15,563 sq. ft. These establishments are set to open between fall 2024 to spring 2025, contributing to the ongoing development of Hollywood Park.

Players

Jack Nathan

Kennedy Wilson

Broker

$19.4M

vol

5 deals

Broker
Kennedy Wilson
Kennedy WilsonLender

Inglewood Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

Loading comparables…

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