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420 North Beverly Drive

Updated Oct 29, 2024

Kitson Leases 5,253 SF Retail Space At 420 N Beverly Drive Beverly Hills
LEASEDRetail

Kitson Leases 5,253 SF Retail Space At 420 N Beverly Drive Beverly Hills

420 North Beverly Drive

Building Size

5,253 SF

Asset Type

Retail

Closing

Sep 3, 2023

About this deal

AI

Kitson, an apparel company, has leased 5,253 square feet of space at 420 North Beverly Drive in Beverly Hills. The property, located in a prime retail area, is owned by B & A Management. JLL brokered the lease on behalf of the landlord in response to the high demand for retail space in the area.

Summary of transaction details

The lease of 5,253 square feet at 420 North Beverly Drive was secured by JLL, with brokers Houman Mahboubi, Marisa Renfro, Greg Briest, and Devin Klein representing the landlord, B & A Management. Kitson, an apparel company, sought to expand and relocate its store in Beverly Hills, and this leasing arrangement allowed them to do so. The move was driven by the high demand for prime retail space in the area.

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Players

Devin Klein

JLL

Broker

$8.5M

vol

5 deals

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Beverly Hills 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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