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2700 Colorado Avenue

Oracle Leases Office Space To Lionsgate In Santa Monica For $60/ft
LEASEDOffice

Oracle Leases Office Space To Lionsgate In Santa Monica For $60/ft

2700 Colorado Avenue

$66

$66/SF

Building Size

153,000 SF

Asset Type

Office

Closing

Jan 15, 2024

AI

The property at 2700 Colorado Avenue in Santa Monica has been leased for an office space. The deal involved a total space of 153,000 square feet with an asking rent of $60 per square foot. The landlord, Oracle, secured the lease with the tenant, Lionsgate.

Summary of transaction details:

The lease transaction was facilitated by Blake Mirkin and Kyle Widener from CBRE, along with Jim Travers and Lawson Martin from Cresa Los Angeles, who acted as the tenant's representatives in the deal.

Players

Blake Mirkin

CBRE

Broker

$37.2M

vol

11 deals

Broker
O
OracleLandlord
L
LionsgateTenant

Santa Monica 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

240348.48%

Cash-on-Cash

-68692.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93