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220 Montgomery Street

Updated Dec 4, 2024

Gensler Signs Long-Term Lease For 45,500 SF Office Space At The Mills Building In San Francisco
LEASEDOffice

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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TC
The Swig CompanyLandlord
Gensler
GenslerTenant
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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

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