Updated Oct 29, 2024
Club Studio Leases 48,000 SF Fitness Studio At Santa Monica Place
395 Santa Monica Place, Santa Monica, Ca 90401
Building Size
48,000 SF
Asset Type
Retail
Closing
Jul 21, 2023
About this deal
AI
The property involved in this lease transaction is located at 395 Santa Monica Place in Santa Monica. It is a retail space with a size of 48,000 square feet. The landlord of the property is Macerich, represented by Doug Healey, and the tenant is Club Studio.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 395 Santa Monica Place
- Market: Santa Monica
- Landlord: Macerich - Doug Healey
- Tenant: Club Studio
Club Studio has plans to open a fitness studio at Santa Monica Place. The studio will cover an expansive area of 48,000 square feet and will feature boutique studio rooms, recovery space, steam rooms, infrared saunas, a juice bar, and a retail store. However, the exact opening date for Club Studio's fitness studio has not been announced yet.
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Retail
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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