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4010 South Ocean Drive Holl...

GALBI Steakhouse & Sushi Signs 10-Year Lease For 3,300 SF Space At Hyde Beach House In Hollywood
LEASEDRetail

GALBI Steakhouse & Sushi Signs 10-Year Lease For 3,300 SF Space At Hyde Beach House In Hollywood

4010 South Ocean Drive Hollywood, Florida 33019, USA

Building Size

3,300 SF

Asset Type

Retail

Closing

Jul 11, 2023

AI

A deal has been brokered for GALBI Steakhouse & Sushi to make its Florida debut at Hyde Beach House in Hollywood. The retail space, located at 4010 South Ocean Drive, spans 3,300 square feet. The lease, secured for a period of 10 years, will see GALBI opening its doors to the public in summer 2024. The property is situated in the Hollywood market.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: Not disclosed
  • Square Footage: 3,300
  • Address: 4010 South Ocean Drive, Hollywood
  • Market: Hollywood

Representing the landlord in this transaction is Ovy Anghel from APEX Capital Realty, while GALBI Steakhouse & Sushi is represented by Matthew Katzen from Lee & Associates. The involvement of both parties has been instrumental in finalizing the 10-year lease agreement for the retail space.

Players

Ovy Anghel

APEX Capital Realty

Broker

$135.6M

vol

5 deals

Broker

Hollywood 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