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10960 Wilshire BLVD, Los An...

Updated Oct 29, 2024

Savills Studley Leases 51452 Square Feet At 10960 Wilshire Blvd Los Angeles
LEASEDOffice

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

Craig Jablin

Savills

Broker

1 deal

Broker

Los Angeles Office Market Snapshot

Boundary boundary · 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

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