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909 South Santa Fe Avenue

Beatport Leases 5600 Square Feet Office In Downtown LA's Arts District From 909 S Santa Fe Ave LLC
LEASEDOffice

Beatport Leases 5600 Square Feet Office In Downtown LA's Arts District From 909 S Santa Fe Ave LLC

909 South Santa Fe Avenue

Building Size

5,600 SF

Asset Type

Office

Closing

Nov 5, 2024

AI

The property located at 909 South Santa Fe Avenue in Los Angeles features an office space of 5,600 square feet. Built in 1917, the property showcases a bow truss ceiling and exposed brick elements, contributing to its architectural character. The lease was finalized for the online music streaming company Beatport, which has taken over the space formerly utilized by a design agency. This location is situated between Soho Warehouse and Warner Music Group, emphasizing its strategic position in Downtown LA’s Arts District.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Address: 909 South Santa Fe Avenue
  • Market: Los Angeles
  • Landlord: 909 S Santa Fe Ave LLC
  • Tenant: Beatport
  • Brokers: Caleb Hodge & Jack Nathan - Kennedy Wilson

Kennedy Wilson Brokerage successfully facilitated the lease for Beatport, marking a significant deal in the vibrant Arts District. The transaction highlights the area's growing appeal to creative and tech-oriented tenants, strengthening the neighborhood's reputation as a hub for innovative businesses.

Players

Caleb Hodge

Kennedy Wilson

Broker

$70.6M

vol

3 deals

Broker
Kennedy Wilson
Kennedy WilsonLender

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