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600 Anton Boulevard

Snell & Wilmer L.L.P Signs Lease For 57326 Square Feet At Plaza Tower Costa Mesa
LEASEDOffice

Snell & Wilmer L.L.P Signs Lease For 57326 Square Feet At Plaza Tower Costa Mesa

600 Anton Boulevard

Building Size

57,326 SF

Asset Type

Office

Closing

Nov 12, 2024

AI

The property asset involved in the transaction is an office building located at 600 Anton Boulevard, Costa Mesa. It encompasses a total of 57,326 square feet, accommodating the needs of its tenant.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Address: 600 Anton Boulevard
  • Market: Costa Mesa
  • Landlord: 600 Anton Boulevard Associates
  • Tenant: Jon Frank & Eric Pezold - Snell & Wilmer L.L.P
  • Landlord's Representative: Rick Kaplan & Robert Lambert - Cushman & Wakefield
  • Tenant's Representatives: Charles Nixon - CBRE; Kevin Bender - JLL
  • Lease Size: 57,326 square feet
  • Floors: Three
  • Significance: One of Orange County's largest law firm leases in 2024

Jon Frank and Eric Pezold represent Snell & Wilmer L.L.P in the lease agreement, while Rick Kaplan and Robert Lambert act as the representatives for the landlord, 600 Anton Boulevard Associates. The deal supports the growth of Snell & Wilmer, allowing for the accommodation of over 70 lawyers, thus emphasizing the firm’s commitment to the region.

Players

Kevin Bender

JLL

Broker

$97.9M

vol

3 deals

Broker

Costa Mesa 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