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FabFitFun Leases 53427 Square Feet At 8687 Melrose Ave With WeWork As Landlord

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LEASED
Kelli Snyder
Eric Duncanson
+ 3

California

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Office53,427 SF
Leased 06/11/2021
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Property Image
LEASED

FabFitFun Leases 53427 Square Feet At 8687 Melrose Ave With WeWork As Landlord

8687 Melrose Ave, West Hollywood, C...

See Similar Deals
Office53,427 SF
Leased 06/11/2021
Kelli Snyder
Eric Duncanson
+ 3
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:53,427 SF
Transaction Type:Lease

The property involved in this lease transaction is located at 8687 Melrose Ave, West Hollywood, California. The space encompasses a total of 53,427 square feet within the Green building of the Pacific Design Center. This building is part of a 14-acre complex that includes a range of showroom brands and flexible workspaces, operated by WeWork, which leases around 120,000 square feet in the two buildings of the center.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not disclosed
  • Address: 8687 Melrose Ave, West Hollywood, CA
  • Market: West Hollywood
  • Tenant: FabFitFun
  • Landlord: WeWork
  • Tenant's Representatives: Marques Williams (Cushman & Wakefield), Eric Duncanson (Cushman & Wakefield)
  • Landlord's Representatives: Kelli Snyder (CBRE), Christopher (Chris) Penrose Jr (CBRE)
  • Broker: John Zanetos (CBRE)
  • Square Feet: 53,427

This lease agreement was facilitated by a team from CBRE, consisting of John Zanetos, Chris Penrose, Phillip Ruhl, and Kelli Snyder, representing WeWork. Cushman & Wakefield's Eric Duncanson and Marques Williams negotiated on behalf of FabFitFun. The new location for FabFitFun will feature redesigned creative office space, including podcast studios and various specialized areas aimed at enhancing their operational capabilities.

Players

Kelli Snyder
4 deals$92.9M volume
BROKER

Marques Williams
Cushman & Wakefield
2 deals$12.2M volume
BROKER

Eric Duncanson
Cushman & Wakefield
4 deals
BROKER




WeWork
LANDLORD

Details

LEASED
IMAGE: 8687 Melrose Ave, West Hollywood, C... MARKET: West Hollywood TENANT'S REP: Marques Williams(Cushman & Wakefield), Eric Duncanson(Cushman & Wakefield) LANDLORD'S REP: Kelli Snyder(CBRE), Christopher (Chris) Penrose Jr(CBRE) BROKERS: John Zanetos(CBRE) TENANT: FabFitFun LANDLORD: WeWork SQUARE FEET: 53427

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Deal Type
Effective Rent (Annual)

$3,062,403.40

Total Lease Value

$30,624,034.00

Net Landlord Cash Flow$3,062,403.40