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6167 Bristol Parkway

The County Of Los Angeles Leases Office Space In Culver City & San Pedro
LEASEDOffice

The County Of Los Angeles Leases Office Space In Culver City & San Pedro

6167 Bristol Parkway & 1294 West 6th Street

Building Size

50,000 SF

Asset Type

Office

Closing

Jan 24, 2024

AI

The County of Los Angeles has signed a lease for a 10-year commitment at 6167 Bristol Parkway in Culver City. The remodeled space, spanning 92,000 square feet, will include the County Assessors' office, which will occupy approximately 8,000 square feet on the first floor. The lease is set to take effect in 2024.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not mentioned
  • Address: 6167 Bristol Parkway, Culver City
  • Market: Culver City
  • Square Footage: 92,000

The second lease involved a 15-year commitment at 1294 W. 6th Street in San Pedro. The lease will occupy the entire second floor of the San Pedro Medical Arts building, with occupancy expected in late 2024. The deal is described as central and medical in nature.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not mentioned
  • Address: 1294 W. 6th Street, San Pedro
  • Market: San Pedro
  • Square Footage: Not mentioned

Mark Mattis from Avison Young represented the landlord in these transactions, while Dennis Smith and Jerry Porter from Cresa represented The County of Los Angeles.

Players

Mark Mattis

Avison Young

Broker

2 deals

Broker

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