Armanino LLP Leases Office Spaces In Los Angeles & Irvine With Multiple Brokers
2121 Avenue of the Stars & 400 Spectrum Center Drive
Building Size
90,480 SF
Asset Type
Office
Closing
May 20, 2024
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:
- Property Type: Office
- Transaction Amount: Not specified
- Market: Los Angeles & Irvine
- Landlord: Roger DeWames - Irvine Company Office Properties
- Tenant: Armanino LLP
- Brokers: Danny Rees - CBRE; Randy Parker - Savills
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.
Players
Los Angeles 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