Nakamura Terada Architects Signs Long-Term Lease At 845 15th Street In San Diego
845 15th Street
Building Size
10,201 SF
Asset Type
Office
Closing
Jan 22, 2024
AI
San Diego's Roseling Nakamura Terada Architects (RNT) has signed a long-term lease for 10,201 square feet in Block D, a Net Zero Energy and LEED Platinum-certified office building located at 845 15th Street in Downtown San Diego's Makers Quarter. The building, owned by L2HP, LLC and represented by Derek Hulse and Morgan Reno from Cushman & Wakefield, is known for its sustainable features and creative atmosphere. RNT has chosen this unique space as their new headquarters.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Address: 845 15th Street
- Market: San Diego
- Size: 10,201 square feet
- Landlord: Sumeet Parekh - L2HP, LLC
- Tenant: Nakamura Terada Architects, Inc
- Landlord's Rep: Derek Hulse & Morgan Reno - Cushman & Wakefield
- Tenant's Rep: Star Hughes-Gorup - Hughes Marino
- Lease Term: Long-term
The lease agreement allows RNT to establish their headquarters in the Block D building, which is known for its sustainable features as a Net Zero Energy and LEED Platinum-certified office. The decision to relocate to this creative hub aligns with RNT's vision for an innovative workspace.
Players
San Diego Office Market Snapshot
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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