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6165 Santa Monica Boulevard

Canyon Creative Design Signs Long-Term Lease For Office Space In Hollywood At 6165 Santa Monica Blvd
LEASEDOffice

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

Jared Swedelson

NAI Global

Broker

$119.2M

vol

18 deals

Broker

Los Angeles 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