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2121 Avenue of the Stars

Updated Dec 4, 2024

Armanino LLP Leases Office Spaces In Los Angeles & Irvine With Multiple Brokers
LEASEDOffice

Armanino LLP Leases Office Spaces In Los Angeles & Irvine With Multiple Brokers

2121 Avenue of the Stars & 400 Spectrum Center Drive

Building Size

45,240 SF

Asset Type

Office

Closing

May 20, 2024

About this deal

AI

Office properties located at 2121 Avenue of the Stars in Los Angeles and 400 Spectrum Center Drive in Irvine, were involved in a lease transaction on May 20, 2024. Armanino LLP leased 23,450 square feet at the Los Angeles address and 22,000 square feet at the Irvine location. The landlord, Roger DeWames of Irvine Company Office Properties, facilitated the lease between the parties.

Summary of transaction details:

Armanino LLP's decision to lease space at both 2121 Avenue of the Stars and 400 Spectrum Center Drive was influenced by Irvine Company's financial stability and the premium amenities provided at the properties. This lease transaction highlights the attractiveness of these office locations to tenants across multiple markets.

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Players

Danny Rees

CBRE

Broker

2 deals

Broker
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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

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