Updated Feb 19, 2026
IKEA Signs Lease For 40000 Square Feet At 3225 Helms Avenue Culver City With Landlord Wally Marks III
3225 Helms Avenue
Building Size
40,000 SF
Asset Type
Retail
Closing
Feb 18, 2026
About this deal
AI
The property involved in this transaction is a retail space located at 3225 Helms Avenue in Culver City. It encompasses a total of 40,000 square feet and is situated within the notable Helms Bakery complex, previously occupied by HD Buttercup.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 3225 Helms Avenue
- Market: Culver City
- Landlord: Wally Marks III
- Tenant: Juvencio Maeztu - IKEA
This deal involves Wally Marks III as the landlord and Juvencio Maeztu representing IKEA as the tenant. IKEA plans to establish its first city-center store in Los Angeles, which will showcase locally tailored showrooms for kitchens and bathrooms, along with a food court, all while maintaining the exterior integrity of the complex.
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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