Beach Point Capital Management Leases Office At 1620 26th St, Santa Monica
LEASED
California
See Similar DealsOffice25,000 SF
Leased 07/06/2016
LEASED
Beach Point Capital Management Leases Office At 1620 26th St, Santa Monica
1620 26th St, Santa Monica, CA, 90404
See Similar DealsOffice25,000 SF
Leased 07/06/2016
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:25,000 SF
Transaction Type:Lease
The Water Garden at 1620 26th St in Santa Monica, CA, 90404, is a six-story, Class-A office building where Beach Point Capital Management has renewed its lease and is expanding to occupy the entire top floor. The firm's lease agreement with landlord JP Morgan includes monument signage rights.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not provided
- Square Feet: 25,000
- Tenant: Beach Point Capital Management
- Tenant's Rep: Mark Sullivan
- Landlord: JP Morgan
- Tenant's Rep Agency: Savills Studley
- Landlord's Rep: CBRE
Savills Studley corporate managing director Andy Lustgarten and EVP, director, and regional manager Mark Sullivan represented Beach Point Capital Management in the lease renewal and expansion deal. On the landlord's side, CBRE first VP Amanda Calof served as the representative for Water Garden owner JP Morgan in the transaction.
Players
LENDER
LANDLORD
Details
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$1,432,984.91
Total Lease Value
$14,329,849.14
Net Landlord Cash Flow$1,432,984.91
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