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
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