Knotel Leases Office Space From Tala At 429 Santa Monica Blvd, Santa Monica
429 Santa Monica BLVD, Santa Monica...
Building Size
12,388 SF
Asset Type
Office
Closing
Nov 22, 2023
AI
The office located at 429 Santa Monica Blvd in Santa Monica, comprising 12,388 square feet, was leased in a recent transaction. Knotel signed the lease as the tenant, while Tala acted as the landlord. The tenant was represented by Ray Howden of Cushman & Wakefield, and the landlord was represented by Robert (Bobby) Cavaiola and Shay Bolton, both of Savills.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not provided
- Address: 429 Santa Monica Blvd, Santa Monica
- Market: Santa Monica
- Tenant's Rep: Ray Howden (Cushman & Wakefield)
- Landlord's Reps: Robert (Bobby) Cavaiola (Savills), Shay Bolton (Savills)
- Tenant: Knotel
- Landlord: Tala
- Square Feet: 12,388
The collaboration between Knotel, Tala, and their respective representatives resulted in the successful leasing of the office space at 429 Santa Monica Blvd. This transaction highlights the importance of knowledgeable real estate professionals, such as Ray Howden from Cushman & Wakefield and Robert (Bobby) Cavaiola and Shay Bolton from Savills, in facilitating agreements between tenants and landlords in the vibrant market of Santa Monica.
Players
Santa Monica 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