Updated Dec 4, 2024
Boot Barn Holdings Expands HQ In Irvine With 116,000 SF Lease At Spectrum Terrace, Laguna Canyon Road
17100 Laguna Canyon Road
Building Size
116,000 SF
Asset Type
Office
Closing
Sep 28, 2023
About this deal
AI
The western-wear and workwear retailer, Boot Barn Holdings, is relocating its headquarters to a larger 116,000-square-foot space in Irvine at Spectrum Terrace on Laguna Canyon Road. This new office space represents a 37% increase in size compared to the company's current location. The property, owned by Irvine Company and represented by Donald Bren, offers access to various amenities, including a resort-style pool, food hall, and fitness center.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Square Footage: 116,000 SF
- Address: 17100 Laguna Canyon Road, Irvine
- Market: Irvine
Boot Barn Holdings' decision to move to a larger office space comes as the company has experienced substantial growth. With annual net sales surpassing $1.7 billion this fiscal year, the expansion reflects their need for more space to accommodate their expanding business operations. This move allows Boot Barn Holdings, represented by Jim Conroy, to establish its headquarters in a prime location in Irvine, providing convenient access to the amenities offered at Spectrum Terrace.
Players
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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