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181 Fremont Street

Navan Subleases 36,000 SF Office Space From Meta's Mark Zuckerberg At 181 Fremont St. In San Francisco
LEASEDOffice

Navan Subleases 36,000 SF Office Space From Meta's Mark Zuckerberg At 181 Fremont St. In San Francisco

181 Fremont Street

Building Size

36,000 SF

Asset Type

Office

Closing

Oct 6, 2023

AI

Navan, a travel tech firm, has subleased 36,000 square feet of office space from Meta in San Francisco's 181 Fremont Street tower. The property, located at 181 Fremont Street, offers a prime office location in the heart of San Francisco's market. This transaction marks a significant deal in the current office market landscape.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: Not provided
  • Address: 181 Fremont Street
  • Market: San Francisco
  • Square Footage: 36,000

Mark Zuckerberg, the founder of Meta, played a key role as the landlord in this transaction. Navan, represented by Ariel Cohen & Ilan Twig, secured the sublease agreement, utilizing the office space for their operations. This deal indicates potential market turnaround in San Francisco, as Navan takes advantage of current record-high office vacancies.

Players

Mark Zuckerberg

Meta

Landlord

$222.3M

vol

18 deals

Landlord
N
NavanTenant
N
NavanTenant

San Francisco 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