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145 S Spring St, Los Angele...

Onni Group Leases 18000 Square Feet At 145 S Spring St, Los Angeles, With Andrew Tashjian
LEASEDOffice

Onni Group Leases 18000 Square Feet At 145 S Spring St, Los Angeles, With Andrew Tashjian

145 S Spring St, Los Angeles, CA, 90012

Building Size

18,000 SF

Asset Type

Office

Closing

May 2, 2017

AI

The property involved in the transaction is located at 145 S Spring St, Los Angeles, CA, 90012. It is part of the Times Mirror Square complex, specifically within the Times South building, which offers 18,000 square feet of space. The building, constructed in 1935, is situated in the Los Angeles market and is part of a larger 243,749-square-foot structure. The site was previously owned by Tribune Media before being acquired by Onni Group for over $100 million.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not disclosed
  • Address: 145 S Spring St, Los Angeles, CA, 90012
  • Market: Los Angeles
  • Landlord: Onni Group
  • Landlord's Representative: Andrew Tashjian - Cushman & Wakefield
  • Tenant: Uber
  • Square Feet: 18,000

Uber has signed the lease for the property, indicating its expansion into the Times South building within Times Mirror Square. Andrew Tashjian of Cushman & Wakefield represented the landlord in this transaction. It remains unclear whether this agreement constitutes a sublease or a direct lease, as both have occurred this year within the same building.

Players

Andrew Tashjian

Battleship Real Estate

Broker

$24.5M

vol

3 deals

Broker
Onni Group
Onni GroupLandlord

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