Canyon Creative Design Signs Long-Term Lease For Office Space In Hollywood At 6165 Santa Monica Blvd
6165 Santa Monica Boulevard
Building Size
14,400 SF
Asset Type
Office
Closing
Nov 22, 2024
AI
The transaction involves two adjacent office/flex properties located at 6165 and 6121 Santa Monica Boulevard in Hollywood, Los Angeles. The combined space of the properties totals 14,400 square feet, catering to the needs of a growing tenant in the design sector.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Long-term lease
- Tenant: Canyon Creative Design
- Broker: Jared Swedelson - NAI Capital Commercial
- Lease Term: Long-term
- Market: Hollywood, Los Angeles
NAI Capital Commercial represented Canyon Creative Design in securing a long-term lease, reflecting an increase in demand for unique and remodeled office spaces in the Hollywood Studio District. This demand is characterized by interest from sectors such as design and wellness, paralleling changes in the entertainment market.
Players
Los Angeles Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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