facebook

traded

+ Submit
Home

/

Deals

/

California

/

Retail

/

Lease

/

499 North Canon Drive

High-Profile Entertainment Company Leases Prime Retail Space At 499 North Canon Drive In Beverly Hills
LEASEDRetail

High-Profile Entertainment Company Leases Prime Retail Space At 499 North Canon Drive In Beverly Hills

499 North Canon Drive

Building Size

Asset Type

Retail

Closing

Apr 20, 2025

AI

A prime street-level retail space located at 499 North Canon Drive in Beverly Hills has been leased. This property features a prominent position directly across from the iconic Beverly Hills sign, situated at the corner of North Canon Drive and Santa Monica Boulevard. The retail space will host a high-profile conglomerate entertainment company launching a new product in this highly visible area.

Summary of transaction details:

This transaction involves key representatives from both sides, with Greg Briest, Houman Mahboubi, and Marisa Renfro of CBRE representing the landlord and Devin Klein, Matthew Fainchtein, and Ryan Hawley of JLL representing the tenant. The lease signifies a strategic move for the entertainment company into a noteworthy retail location.

Players

Devin Klein

JLL

Broker

$8.5M

vol

5 deals

Broker

Beverly Hills Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

Loading comparables…

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