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201 E Magnolia BLVD, Burban...

Updated Sep 10, 2024

Lease Signed For 3000 Square Feet At 201 E Magnolia Blvd Burbank With Landlord's Rep Casey Mahoney
LEASEDRetail

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:

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

Terrison Quinn

SRS Real Estate Partners

Broker

2 deals

Broker

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

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