Cedars-Sinai Leases Medical Office At 8687 Melrose Ave, West Hollywood
8687 Melrose Ave, West Hollywood, C...
Building Size
30,000 SF
Asset Type
Medical Office
Closing
Nov 22, 2023
AI
The medical office property located at 8687 Melrose Ave in West Hollywood, spanning 30,000 square feet, was leased in a transaction involving Cedars-Sinai as the tenant and Cohen Brothers Realty as the landlord. The tenant's representative for this deal was R. Todd Doney of CBRE.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: Not Applicable
- Address: 8687 Melrose Ave, West Hollywood, CA
- Market: West Hollywood
- Tenant's Rep: R. Todd Doney (CBRE)
- Tenant: Cedars-Sinai
- Landlord: Cohen Brothers Realty
- Square Feet: 30,000
R. Todd Doney from CBRE skillfully represented Cedars-Sinai in the lease of the medical office property on Melrose Avenue in West Hollywood. The collaboration between the tenant, Cedars-Sinai, and the landlord, Cohen Brothers Realty, underlines the significance of this transaction in the local real estate market.
Players
West Hollywood Medical Office Market Snapshot
Boundary boundary · Medical Office · 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