Updated Oct 28, 2024
BLT Enterprises Leases Fortune 100 Office Space At 1601 Olympic Boulevard, Santa Monica
1601 Olympic Boulevard, Santa Monica, CA, USA
Building Size
16,553 SF
Asset Type
Office
Closing
Nov 1, 2021
About this deal
AI
The leased property located at 1601 Olympic Boulevard in Santa Monica has been involved in a recent transaction. The asset type is an office space, covering a total square footage of 16,553. The lease was completed on 11/01/2021.
Summary of transation details
- Property Type: Office
- Transaction Date: 11/01/2021
- Address: 1601 Olympic Boulevard, Santa Monica
- Market: Santa Monica
BLT Enterprises acted as the landlord in this lease transaction. The tenant is described as Fortune 100. Representing both sides of the deal were Brad McCoy and David Wilson, who are brokers from Lee & Associates.
It is worth noting that the asking rent for the property was $66 per square foot.
Players
Santa Monica 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