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5800 Bristol Pkwy, Culver C...

Red Light Management Leases 26382 Square Feet At 5800 Bristol Pkwy Culver City From IDS Real Estate Group
LEASEDOffice

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:

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

Darren Eades

JLL

Broker

$389.3M

vol

3 deals

Broker
IG
IDS Real Estate GroupLandlord

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