JLL Secures Lease For Sixt Rent-a-car At 231 W Katella Ave, Anaheim
231 West Katella Avenue
Building Size
1,500 SF
Asset Type
Retail
Closing
Feb 28, 2024
AI
The retail property involved in the transaction is a 1,500 square foot building located at 231 West Katella Avenue in Anaheim. This property will be leased to Sixt Rent-a-car, marking their first location in Orange County. The lease agreement reflects the increased post-COVID leasing demand from the travel industry.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 231 West Katella Avenue
- Market: Anaheim
- Tenant: Sixt Rent-a-car
- Landlord: MacBaisey Living Trust
- Landlord's Rep: Justin McMahon - JLL
- Tenant's Rep: Bronson Morgan & Ryan Gurman - CBRE
The lease for the 1,500 sq ft retail space was brokered by Justin McMahon from JLL representing the landlord, MacBaisey Living Trust. On the tenant's side, the deal was facilitated by Bronson Morgan and Ryan Gurman from CBRE, marking Sixt Rent-a-car's entry into Orange County with its upcoming location near Disneyland, set to open in the second quarter of 2024.
Players
Anaheim 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