Verve Talent & Literary Agency Signs 53,000 SF Lease At Lincoln's Hollywood Office Campus
959 Seward Street Los Angeles, California 90038, USA
Building Size
53,000 SF
Asset Type
Office
Closing
Aug 9, 2023
AI
The Verve Talent & Literary Agency has signed a lease for a 53,000-square-foot office space located at 959 Seward Street in Los Angeles. The property is owned by Lincoln Property Company and is part of their Class A creative office campus known as BA/SE. This lease marks one of the largest office deals in LA this year and has garnered significant attention.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Square Footage: 53,000
- Address: 959 Seward Street
- Market: Los Angeles
The landlord, Lincoln Property Company, was represented by Rob Kane. Kent Handleman and Douglas Brown, both from Lincoln Property Company, served as the landlord's representatives in the deal. The tenant, Verve Talent & Literary Agency, was represented by Jeff Pion from CBRE. Their expertise in the real estate industry played a crucial role in facilitating this lease agreement.
Since its acquisition in 2020, Lincoln Property Company has revitalized the office space to meet the needs of Verve Talent & Literary Agency. The relocation to BA/SE offers the agency a modern and creative work environment to support its operations. This lease demonstrates the continued growth and investment in the Los Angeles office market, highlighting the appeal of Class A office spaces.
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