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700 South Flower Street

Finesse Subleases 23,000 Square Feet Office Space In Downtown Los Angeles
LEASEDOffice

Finesse Subleases 23,000 Square Feet Office Space In Downtown Los Angeles

700 South Flower Street

Building Size

23,000 SF

Asset Type

Office

Closing

Oct 4, 2024

AI

The property asset involved in this transaction is an office space located at 700 South Flower Street in the Los Angeles market. The total square footage of the office space is 23,000. Finesse, an AI-based fashion firm, has subleased this space at The Bloc in Downtown L.A., which signifies a substantial increase in their office capacity. Finesse is relocating from the Fashion District to the Financial District.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 700 South Flower Street
  • Market: Los Angeles
  • Asset Size: 23,000 square feet
  • Tenant: Finesse
  • Sublandlord's Rep: Savills
  • Tenant's Rep: Doug Fillmore & Matt McLaughlin - Found Real Estate
  • Duration of Lease: Through January 2028

Key representatives in this transaction include Doug Fillmore and Matt McLaughlin from Found Real Estate, who represent Finesse in this lease agreement. Savills serves as the representative for the sublandlord in this deal.

Players

Doug Fillmore

Broker

$28.9M

vol

6 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