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
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