Decron Properties Leases Wilshire Boulevard Office Space To Federative Republic Of Brazil And Hanger Clinic
Building Size
20,000 SF
Asset Type
Office
Closing
Nov 3, 2023
AI
Decron Properties in Los Angeles has leased space at its Wilshire Boulevard office building to the Federative Republic of Brazil for a 10.5-year term, occupying the penthouse, and to Hanger Clinic for eight years. The property, located at 6222 Wilshire Boulevard, has a total square footage of 20,000 and is now 92 percent leased. The market for this transaction was Los Angeles.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not available
- Address: 6222 Wilshire Boulevard
- Market: Los Angeles
- Landlord: Decron Properties
- Tenant: Federative Republic of Brazil; Hanger Clinic
- Landlord's Representative: JLL
- Tenant's Representatives: CBRE & Cushman & Wakefield
- Lease Term: 10.5 years for the Federative Republic of Brazil, and 8 years for Hanger Clinic
The leasing deal at 6222 Wilshire Boulevard involved several key individuals and companies. Decron Properties, represented by David Nagel, acted as the landlord. The tenant, Federative Republic of Brazil, was represented by CBRE and Cushman & Wakefield. JLL served as the landlord's representative in the transaction.
Players
Market 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