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5800 Bristol Parkway

Updated Dec 4, 2024

ByteDance Expands Office Space In Culver City, Los Angeles County
LEASEDOffice

ByteDance Expands Office Space In Culver City, Los Angeles County

5800 Bristol Parkway & 900 Corporate Pointe

Building Size

143,251 SF

Asset Type

Office

Closing

Oct 2, 2023

About this deal

AI

ByteDance, the parent company of TikTok, is expanding its office space in Los Angeles County, adding over 143,000 square feet through a deal in Culver City. The property, located at 5800 Bristol Parkway & 900 Corporate Pointe, is an office space with a total area of 143,251 square feet. The deal was completed on 10/02/2023. The asset is owned by IDS Real Estate represented by David G. Mgrublian and Northwood Investors represented by John Z. Kukral. The tenant, ByteDance, was represented by Zhang Yiming in this lease transaction.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not available
  • Square Footage: 143,251
  • Address: 5800 Bristol Parkway & 900 Corporate Pointe
  • Market: Culver City

This expansion marks one of the largest office signings in Los Angeles during the third quarter, highlighting the growing presence of ByteDance in the region. The deal demonstrates the company's commitment to expanding its operations and office space, further solidifying its position in the industry.

Players

Culver City 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

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