Updated Oct 29, 2024
Savills Studley Leases 51452 Square Feet At 10960 Wilshire Blvd Los Angeles
10960 Wilshire BLVD, Los Angeles, CA...
Building Size
51,452 SF
Asset Type
Office
Closing
Aug 1, 2017
About this deal
AI
The property involved in this transaction is located at 10960 Wilshire Blvd, Los Angeles, CA. UCLA Extension has signed a long-term lease for the 16th and 17th floors, totaling 51,452 square feet. The two floors are connected by an interconnecting staircase, facilitating ease of movement between them. The market for this property is Los Angeles.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 10960 Wilshire Blvd, Los Angeles, CA
- Market: Los Angeles
- Square Feet: 51,452
- Tenant's Representative: Craig Jablin (Savills Studley)
- Landlord: Savills Studley
The transaction marked a significant step for UCLA Extension as they sought new office space, which presented challenges due to their requirement for 50,000 square feet of contiguous space. Savills Studley provided a creative solution by offering their own office space located on the building’s 17th floor for the lease arrangement.
Players
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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