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Navan Subleases 36,000 SF Office Space From Meta's Mark Zuckerberg At 181 Fremont St. In San Francisco
LEASED
California
See Similar DealsOffice36,000 SF
Leased 10/06/2023
LEASED
Navan Subleases 36,000 SF Office Space From Meta's Mark Zuckerberg At 181 Fremont St. In San Francisco
181 Fremont Street
See Similar DealsOffice36,000 SF
Leased 10/06/2023
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:36,000 SF
Transaction Type:Lease
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.
Details
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$2,063,498.28
Total Lease Value
$20,634,982.76
Net Landlord Cash Flow$2,063,498.28
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