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429 Santa Monica BLVD, Sant...

Knotel Leases Office Space From Tala At 429 Santa Monica Blvd, Santa Monica
LEASEDOffice

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

Shay Bolton

Savills

Broker

$10.3M

vol

8 deals

Broker
Knotel
KnotelBrokerage
Knotel
KnotelTenant

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