Red Light Management Leases 26382 Square Feet At 5800 Bristol Pkwy Culver City From IDS Real Estate Group
5800 Bristol Pkwy, Culver City, CA, 90...
Building Size
26,382 SF
Asset Type
Office
Closing
Sep 21, 2017
AI
The property asset involved in this transaction is located at 5800 Bristol Parkway, Culver City, CA. Red Light Management has signed a lease for 26,382 square feet within the C3 at Culver Pointe, a 282,951-square-foot seven-story vertical creative office campus. The lease underscores the growing market presence in Culver City.
Summary of transation details:
- Property Type: Lease
- Transaction Amount: Not disclosed
- Square Feet: 26,382
- Address: 5800 Bristol Parkway, Culver City, CA
- Market: Culver City
- Tenant: Red Light Management
- Tenant's Representative: Jennifer Frisk, Newmark Knight Frank
- Landlord: IDS Real Estate Group
- Landlord's Representatives: Carl Muhlstein, Hayley Blockley, David Saeta, Rob Fuelling, JLL
The lease marks a significant move for Red Light Management, an established international music management company known for managing high-profile artists. The landlord, IDS Real Estate Group, is involved in a joint venture with a fund managed by PNC Realty Investors for the development of the C3 building. The campus is designed by Gensler and includes various amenities such as a private fitness center and outdoor recreational facilities.
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