Updated Oct 28, 2024
Haymakers Secures Long-Term Lease For NewCorp Acquisitions In North Hollywood Retail District
11032 Magnolia Boulevard
$5
$5/SF
Building Size
9,000 SF
Asset Type
Retail
Closing
Jul 20, 2022
About this deal
AI
A long-term lease has been secured by NewCorp Acquisitions, a retail company, for a 2,500 square foot building with pylon signage and a 6,500 square foot adjacent parking lot located at 11032 Magnolia Blvd in the highly walkable and coveted retail section of the NoHo Arts District in North Hollywood. The lease was negotiated by Haymakers, a commercial real estate brokerage, on behalf of the tenant. The property is owned by the Solakian Family Trust.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not mentioned
- Address: 11032 Magnolia Blvd
- Market: North Hollywood
Haymakers, represented by brokers Scott Schubiner and Steve Bermudez, successfully negotiated the relocation of a nearby sensitive use to allow the tenant to obtain the necessary permits for operation. This marks the third transaction completed by Haymakers on behalf of NewCorp Acquisitions. For more information, visit Haymakers' website at www.haymakers.com.
Players
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Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3172600.00%
Cash-on-Cash
-906738.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93