facebook

traded

+ Submit
Home

/

Deals

/

California

/

Office

/

Lease

/

1041 North Formosa Avenue

CIM Group Secures Long-Term Lease With Miramax For 16000 Square Feet In West Hollywood
LEASEDOffice

CIM Group Secures Long-Term Lease With Miramax For 16000 Square Feet In West Hollywood

1041 North Formosa Avenue

Building Size

16,000 SF

Asset Type

Office

Closing

Jan 16, 2025

AI

The asset involved in this transaction is an office space located at 1041 North Formosa Avenue in West Hollywood, offering 16,000 square feet. This property is part of The Lot at Formosa, a historic production campus that has been under the ownership of CIM Group since 2007.

Summary of transaction details:

This long-term lease secured by CIM Group allows Miramax to establish its headquarters within the 11-acre campus, which includes sound stages, historic offices, and modern LEED Gold-certified office buildings, enhancing their operational capabilities within a historic context.

Players

Nicole Mihalka

CBRE

Broker

$29.6M

vol

11 deals

Broker

West Hollywood Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

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