Updated Dec 11, 2024
Hearst Media Production Group Leases 20,011-SF Office Space In Glendale, CA With DivcoWest
655 North Central Avenue Glendale, California 91203, USA
Building Size
20,011 SF
Asset Type
Office
Closing
Aug 14, 2023
About this deal
AI
Hearst Media Production Group (HMPG) has signed a 10-year lease for a 20,011-square-foot office space in a Class A building located at 655 North Central Avenue in Glendale, CA. The move from Burbank to this new location is scheduled for early 2024. DivcoWest will be the landlord for the leased property.
Summary of transaction details
- Property Type: Office
- Transaction Amount: N/A
- Address: 655 North Central Avenue, Glendale, CA
- Market: Glendale, CA
- Square Footage: 20,011 SF
- Tenant: Hearst Media Production Group - Frank Biancuzzo
- Landlord: DivcoWest
This lease agreement allows Hearst Media Production Group to expand its West Coast presence. The new office space will be occupied by Frank Biancuzzo, who serves as the representative for Hearst Media Production Group (HMPG) in this deal. The lease term is set for 10 years.
Glendale Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Deal FAQ
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