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6222 Wilshire Boulevard

Decron Properties Leases Wilshire Boulevard Office Space To Federative Republic Of Brazil And Hanger Clinic
LEASEDOffice

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

David Nagel

Decron Properties

Landlord

$680.7M

vol

8 deals

Landlord

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