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2121 Avenue Of The Stars

Irvine Company Leases 55,500 Square Feet To Armanino LLP And Others In Century City
LEASEDOffice

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