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5250 Lankershim Blvd North ...

CBRE Brokers 21,377 SF Lease For Syracuse University At 5250 Lankershim Blvd
LEASEDOffice

CBRE Brokers 21,377 SF Lease For Syracuse University At 5250 Lankershim Blvd

5250 Lankershim Blvd North Hollywood, CA 91601, USA

$35

$35/SF

Building Size

21,377 SF

Asset Type

Office

Closing

May 8, 2023

AI

Cushman & Wakefield has facilitated a lease between Syracuse University and divcowest'>DivcoWest at 5250 Lankershim Boulevard in North Hollywood, California. This nine-story office building will be home to Syracuse University's expanding SU in LA semester programs for students in The S.I. Newhouse School of Public Communications and The College of Visual & Performing Arts. The university will occupy the full fourth floor of the building, totaling 21,377 square feet. The lease is set to commence in fall 2023.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Asking Rent: $35/ft.
  • Square Footage: 21,377
  • Address: 5250 Lankershim Boulevard
  • Market: North Hollywood

JLL's Patrick Church and Anneke Greco represented the landlord, divcowest'>DivcoWest, in the lease transaction. Marty Barkan from CBRE acted as the tenant's representative, assisting Syracuse University in securing the space.

Players

Marty Barkan

CBRE

Broker

$11.6M

vol

2 deals

Broker
DivcoWest
DivcoWestLender
DivcoWest
DivcoWestLandlord

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