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The County Of Los Angeles Signs 15-Year Lease For Office Space In Long Beach With Omninet Capital

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LEASED

California

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Office207,289 SF
Leased 12/14/2023
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LEASED

The County Of Los Angeles Signs 15-Year Lease For Office Space In Long Beach With Omninet Capital

1500 Hughes Way

See Similar Deals
Office207,289 SF
Leased 12/14/2023
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:207,289 SF
Transaction Type:Lease

The County of Los Angeles has signed a 15-year lease for 207,289 square feet of office space located at 1500 Hughes Way, Long Beach. The lease agreement was made with Omninet Capital, a real estate investment firm led by Neil Kadisha. The office space, valued at an estimated $166.7 million, will serve as the new headquarters for The County of Los Angeles. The decision to lease in Long Beach is reflective of the increased leasing activity in the area, which is known for its affordability.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $166.7 million
  • Square Footage: 207,289
  • Address: 1500 Hughes Way, Long Beach
  • Market: Long Beach

Omninet Capital, represented by Neil Kadisha, acted as the landlord in the lease transaction. Fesia Davenport represented The County of Los Angeles as its tenant. The 15-year lease signifies a long-term commitment by The County of Los Angeles to establish its presence in Long Beach.

Details

LEASED
IMAGE: Fesia Davenport & Neil Kadisha DATE: 12/14/2023 ADDRESS: 1500 Hughes Way MARKET: Long Beach ASSET TYPE: Office ~ SF: 207,289 LANDLORD: Omninet Capital - Neil Kadisha TENANT: The County of Los Angeles (@CountyofLA) - Fesia Davenport LEASE TERM: 15 year NOTE: The County of Los Angeles has signed a 15-year lease for 207,289 square feet of office space in Long Beach with Omninet Capital, costing an estimated $166.7 million. Despite a decline in the broader L.A. County office market, Long Beach, known for its affordability, is experiencing increased leasing activity.

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Deal Type
Effective Rent (Annual)

$11,881,680.39

Total Lease Value

$118,816,803.93

Net Landlord Cash Flow$11,881,680.39