MODLOCK Signs 1,680 SF Retail Lease At 15 East Holly Street In Pasadena
15 East Holly Street
Building Size
1,680 SF
Asset Type
Retail
Closing
Sep 19, 2023
AI
A home security company, MODLOCK, has signed a lease for a 1,680-square-foot retail space located at 15 East Holly Street in Pasadena. The property will serve as an experiential showroom for Liberty Safe, Alarm.com, and Google Home products. MODLOCK plans to expand its retail presence in Southern California, prioritizing excellent service support for these units.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not available
- Square Footage: 1,680
- Address: 15 East Holly Street, Pasadena
- Market: Pasadena
Frank Renfro, representing MODLOCK, finalized the lease agreement as the tenant. Hoss MacVaugh, from MacVaugh & Company, served as the landlord's representative, facilitating the deal. JLL, represented by Houman Mahboubi and Marisa Renfro, acted as the tenant's representatives in the transaction.
Players
Kingwood 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