Irvine Company Leases 55,500 Square Feet To Armanino LLP And Others In Century City
2121 Avenue Of The Stars
Building Size
55,500 SF
Asset Type
Office
Closing
Feb 18, 2025
AI
2121 Avenue of the Stars is an office property located in Los Angeles, featuring 55,500 square feet of space. The asset demonstrates a strong market presence, being part of a portfolio that maintains a 90% occupancy rate, significantly surpassing the national vacancy average of 20.4%.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 2121 Avenue Of The Stars
- Market: Los Angeles
- Landlord: Donald Bren - Irvine Company
- Tenants: Matt Armanino - Armanino LLP; Brian D. Holmes - Signature Estate & Investment Advisors, LLC; Shook, Hardy & Bacon, LLP
This lease transaction reinforces the demand for premium office space in Century City, with Irvine Company successfully leasing over 55,000 square feet to notable tenants including Armanino LLP and Signature Estate & Investment Advisors, as well as Shook, Hardy & Bacon, LLP.
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