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
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