Updated Jan 22, 2025
Namoo Korean BBQ Leases 4,882-SF Retail Space From DWS At Marina Marketplace In Marina Del Rey
13450 Maxella Avenue
Building Size
4,882 SF
Asset Type
Retail
Closing
Apr 17, 2024
About this deal
AI
The property involved in the transaction is a retail space located at 13450 Maxella Avenue in Marina del Rey, featuring a total square footage of 4,882. The asset will house Namoo Korean BBQ, which is set to launch in the second quarter of this year in the Marina Marketplace, a well-positioned location known for its robust tenant mix, including Gelson’s, Equinox, ULTA, and AMC Dine-In Theatres.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Square Footage: 4,882
- Address: 13450 Maxella Avenue
- Market: Marina del Rey
- Landlord: DWS
- Tenant: Namoo Korean BBQ
- Landlord's Representative: Ian Jost, Scott Burns & Shauna Mattis - JLL
- Tenant's Representative: Aditya Ramnath - Matthews Real Estate Investment Services
The lease was secured by JLL on behalf of landlord DWS, marking a significant addition to the Marina Marketplace. Aditya Ramnath represented Namoo Korean BBQ, facilitating the tenant's commitment to establishing an upscale Korean BBQ destination in the Westside submarket.
Players
Marina Del Rey 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