Concept Arts Leases Office At 4201 Wilshire Blvd., Los Angeles, CA To Jameson Commercial
4201 Wilshire BLVD, Los Angeles, CA...
Building Size
31,500 SF
Asset Type
Office
Closing
Oct 19, 2017
AI
The leased property, located at 4201 Wilshire Boulevard in Los Angeles, CA, is an office asset comprising approximately 31,500 square feet. It is part of the historic Harbor Building, constructed in 1958 for Tidewater Oil Company.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not provided
- Tenant: Concept Arts
- Landlord: Jameson Commercial
- Square Feet: 31,500
- Tenant's Rep: Marc Bretter
- Market: Los Angeles
Concept Arts, a prominent advertising agency known for its work on film campaigns like "La La Land" and "Wonder Woman," signed a long-term lease for the office space. The agency will relocate its headquarters from a building on Selma Avenue to the new Harbor Building in the first quarter of 2018. Additionally, Jamison will build out the majority of the fifth floor for Concept Arts, creating a modern and efficient workspace tailored to the agency's needs.
Players
Los Angeles 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93