Pacific Workplaces Renews Lease For 14,090 SF Office Space In Pleasant Hill
3478 Buskirk Ave Pleasant Hill, CA 94523, USA
$35
$35/SF
Building Size
14,090 SF
Asset Type
Office
Closing
May 10, 2023
AI
Pacific Workplaces (PAC) has renewed its lease for a 14,090 square-foot space at 3478 Buskirk Avenue in Pleasant Hill, California. The lease terms are for another 10 years, and the asking rent is $35 per square foot. The flexible office space provider, which has 18 locations, will use a substantial tenant improvement allowance from the landlord to refresh the center. The space features 51 furnished private offices, meeting rooms, and a community manager who curates professional events.
Summary of transation details
- Property Type: Office
- Transaction Amount: N/A
- Address: 3478 Buskirk Avenue, Pleasant Hill, California
- Market: Pleasant Hill
- Tenant: Pacific Workplaces - Laurent Dhollande & Stephanie Bricker
- Landlord's Rep: Curtis Berrien & Breck Lutz - Newmark
- Tenant's Rep: Ian Osborne & Erik Sorenson - Veracity Commercial Partners
The lease renewal at 3478 Buskirk Avenue in Pleasant Hill was facilitated by the landlord's representatives Curtis Berrien and Breck Lutz from Newmark, and the tenant was represented by Ian Osborne and Erik Sorenson from Veracity Commercial Partners. With the lease term extended and the tenant improvement allowance, Pacific Workplaces will continue to provide its flexible office space services at this location.
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
453228.57%
Cash-on-Cash
-129534.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93