Updated Oct 28, 2024
NewCorp Acquisitions Signs Long-Term Lease In North Hollywood Arts District
11032 Magnolia Boulevard, North Hollywood, California 91601, United States
Building Size
9,000 SF
Asset Type
Retail
Closing
Jul 19, 2022
About this deal
AI
The leased property in this transaction is a retail space located at 11032 Magnolia Blvd in North Hollywood. The property, with a size of 9,000 square feet, was leased by NewCorp Acquisitions from the Solakian Family Trust. The lease was secured by Scott Schubiner & Steve Bermudez from Haymakers, a commercial real estate brokerage licensed in CA, FL, & NY.
Summary of transaction details:
- Property Type: Retail
- Transaction Date: July 20, 2022
- Address: 11032 Magnolia Blvd
- Market: North Hollywood
Haymakers successfully negotiated the lease for NewCorp Acquisitions, allowing them to obtain the necessary permits for operation. The property is situated in the highly walkable and coveted retail section of the NoHo Arts District. This marks the third transaction completed by Haymakers on behalf of the tenant.
Players
Los Angeles Retail Market Snapshot
Boundary boundary · Retail · 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