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711 Montana Avenue, Santa M...

Lotus West Properties Leases 2,000 SF Office Space On Montana Ave In Santa Monica
LEASEDOffice

Lotus West Properties Leases 2,000 SF Office Space On Montana Ave In Santa Monica

711 Montana Avenue, Santa Monica, California 90403, United States

Building Size

2,000 SF

Asset Type

Office

Closing

May 24, 2022

AI

Lotus West Properties, represented by Ari Chazanas, has signed a lease agreement for an office space located at 711 Montana Ave. in Santa Monica. The landlord, Topa Equities, was represented by Matt Lavin from PAR Commercial Brokerage. The lease transaction was facilitated by Tim Dornan from Industry Partners. The office space spans across 2,000 square feet and the asking rent was set at $5 per square foot.

Summary of transaction details

  • Property Type: Office
  • Transaction Date: 05/25/2022
  • Address: 711 Montana Ave.
  • Market: Santa Monica

Ari Chazanas, representing Lotus West Properties, successfully negotiated the lease agreement for the office space at 711 Montana Ave. in Santa Monica. Matt Lavin, on behalf of Topa Equities, acted as the landlord's representative. Additionally, Arthur Peter from PAR Commercial Brokerage and Tim Dornan from Industry Partners played instrumental roles as brokers in this transaction.

Players

Arthur Peter

PAR Commercial Brokerage

Broker

$2.5M

vol

2 deals

Broker
TE
Topa EquitiesLandlord

Ari Chazanas

Tenant

$12.1M

vol

4 deals

Tenant

Santa Monica 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