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
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