facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

California

/

Office

/

Lease

/

1950 Avenue of the Stars

JMB Realty Secures Sidley Austin As Tenant For Century City Office Tower
LEASEDOffice

JMB Realty Secures Sidley Austin As Tenant For Century City Office Tower

1950 Avenue of the Stars

Building Size

75,000 SF

Asset Type

Office

Closing

Dec 18, 2023

AI

The JMB Realty-owned office tower at 1950 Avenue of the Stars in Los Angeles has secured law firm Sidley Austin as its newest tenant. The 37-story building, located in the competitive Century City market, is already 85% leased and valued at $300 million. Sidley Austin will occupy 75,000 square feet of space, joining Clearlake Capital Group and Creative Artists Agency as major tenants in the development.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: N/A
  • Square Footage: 75,000
  • Address: 1950 Avenue of the Stars
  • Market: Los Angeles

JMB Realty, owned by Rigel Barber, is the landlord of the building. Sidley Austin will be represented by Dan Clivner and Mehdi Khodadad in the lease agreement.

Players

JR
JMB RealtyLandlord

Los Angeles Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

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