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
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