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
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