Updated Sep 10, 2024
Lease Signed For 3000 Square Feet At 201 E Magnolia Blvd Burbank With Landlord's Rep Casey Mahoney
201 E Magnolia BLVD, Burbank, CA, 9...
Building Size
3,000 SF
Asset Type
Retail
Closing
Nov 19, 2023
About this deal
AI
The property involved in this transaction is located at 201 E Magnolia Blvd, Burbank, CA, encompassing 3,000 square feet. The market for this property is Burbank, and it is part of the Burbank Town Center, which has been recently upgraded with a $60 million enhancement including a new ground-floor food court and upper-level dining terrace. This asset now boasts 94 percent occupancy following the lease signings with seven new tenants.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 201 E Magnolia Blvd, Burbank, CA
- Market: Burbank
- Square Feet: 3000
- Landlord's Representative: Casey Mahoney, Terrison Quinn - SRS Real Estate Partners
- Landlord: Unknown
In this transaction, SRS Real Estate Partners represented the landlord, with Casey Mahoney and Terrison Quinn taking part in negotiating the leases for the new tenants. The recent upgrade to the property has positioned it favorably within the market, enhancing its appeal to both tenants and customers alike.
Players
Burbank 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