Updated Dec 4, 2024
Gensler Signs Long-Term Lease For 45,500 SF Office Space At The Mills Building In San Francisco
220 Montgomery Street
Building Size
45,500 SF
Asset Type
Office
Closing
Jan 29, 2024
About this deal
AI
The Swig Company, represented by Cory Kristoff, has leased a 45,500-square-foot office space located at 220 Montgomery Street in San Francisco to Gensler, represented by Hao Ko & Randy Howder. The lease agreement supports Gensler's 2030 carbon zero goal and future work strategy, and the space will undergo renovations to become a sustainable workplace with all-electric utilities, aiming to immediately reduce carbon emissions by over 20%.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Address: 220 Montgomery Street
- Market: San Francisco
- Landlord: Cory Kristoff - The Swig Company
- Tenant: Hao Ko & Randy Howder - Gensler
Gensler, a global architecture firm, has chosen to lease the office space from The Swig Company in order to support their carbon zero goal and future work strategy. The lease agreement will allow Gensler to create a sustainable workplace model by renovating the space with all-electric utilities, demonstrating their commitment to reducing carbon emissions and promoting environmentally friendly practices.
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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