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
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
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 420 North Beverly Drive
- Market: Beverly Hills
- Tenant: Kitson
- Landlord: B & A Management
- Brokers: Houman Mahboubi, Marisa Renfro, Greg Briest & Devin Klein - JLL
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.
Players
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