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3478 Buskirk Ave Pleasant H...

Pacific Workplaces Renews Lease For 14,090 SF Office Space In Pleasant Hill
LEASEDOffice

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

Curtis Berrien

Newmark

Broker

1 deal

Broker

Laurent Dhollande

Pacific Workplaces

Tenant

2 deals

Tenant
Pacific Workplaces
Pacific WorkplacesTenant

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