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5060 North Montclair Plaza ...

Updated Dec 4, 2024

CIM Group Leases Space To Main Event Entertainment At Montclair Place In California's Inland Empire
LEASEDRetail

CIM Group Leases Space To Main Event Entertainment At Montclair Place In California's Inland Empire

5060 North Montclair Plaza Lane

Building Size

51,802 SF

Asset Type

Retail

Closing

Oct 24, 2023

About this deal

AI

CIM Group, represented by Shaul Kuba, has leased space to Main Event Entertainment at Montclair Place in California's Inland Empire. The retail property, located at 5060 North Montclair Plaza Lane, has a total area of 51,802 square feet. This long-term lease agreement signifies Main Event Entertainment's entry into Southern California and demonstrates positive momentum in the local retail market.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 5060 North Montclair Plaza Lane
  • Market: Montclair
  • Landlord: CIM Group (represented by Shaul Kuba)
  • Tenant: Main Event Entertainment (represented by Chris Morris)

Main Event Entertainment, led by Chris Morris, will be operating the family entertainment center within the leased space. This new addition is expected to open in 2025, offering a range of entertainment options for the community. Despite a year-over-year decline in leasing activity, this transaction highlights the confidence in the local retail market and the potential it holds for Main Event Entertainment's growth in Southern California.

Players

Shaul Kuba

CIM Group

Landlord

$796.2M

vol

26 deals

Landlord

Montclair 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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