California Bank & Trust Leases 28603 SF Office At 707 Wilshire Boulevard In Los Angeles
707 Wilshire Boulevard
Building Size
28,603 SF
Asset Type
Office
Closing
Nov 15, 2024
AI
California Bank & Trust has leased 28,603 square feet of office space at 707 Wilshire Boulevard, also known as the AON Center, located in Downtown Los Angeles. This lease marks the bank's new headquarters in Los Angeles.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 707 Wilshire Boulevard
- Market: Los Angeles
- Landlord: Adam Rubin - Carolwood LP
- Tenant: Mike Gouletas - California Bank & Trust
- Landlord's Representative: Ian Gilbert & Matthew Heyn - Colliers
- Tenant's Representative: Adam Seltzer - CBRE
In this transaction, Ian Gilbert and Matthew Heyn from Colliers represented the landlord, Carolwood LP, while Adam Seltzer and Mike Gouletas from CBRE acted on behalf of the tenant, California Bank & Trust.
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