Updated Jun 23, 2025
Jegan Gomangalam Of Apple Cinemas Leases 92724 Sf Office Space At 1000 Van Ness Avenue
1000 Van Ness Avenue
Building Size
92,724 SF
Asset Type
Office
Closing
Jun 20, 2025
About this deal
AI
The asset is an office space located at 1000 Van Ness Avenue in San Francisco. It comprises 92,724 square feet and is hosted within the historic Don Lee Building.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 1000 Van Ness Avenue
- Market: San Francisco
- Landlord: Lakeside Investment Co.
- Tenant: Jegan Gomangalam - Apple Cinemas
- Theater Features: 14 screens, including IMAX and LED
- Previous Tenant: CGV Cinemas
- Lease Terms: Apple Cinemas is paying less than a third of CGV's former rate
The deal includes Jegan Gomangalam representing Apple Cinemas as the tenant for the leased space. The transaction marks Apple's first West Coast location, establishing a significant presence in the local market.
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Deal FAQ
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