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525 Market Street

Updated Dec 4, 2024

Goodwin Procter Leases 525 Market Street Office Space In San Francisco
LEASEDOffice

Goodwin Procter Leases 525 Market Street Office Space In San Francisco

525 Market Street

Building Size

Asset Type

Office

Closing

Apr 26, 2024

About this deal

AI

The office space at 525 Market Street in San Francisco has been leased to law firm Goodwin Procter. The lease encompasses nearly 60,000 square feet for an 11-year term, providing a collaborative environment for the firm's operations. Goodwin Procter will be moving from their current location at Three Embarcadero Center to this new office space by the end of the year.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 525 Market Street
  • Market: San Francisco
  • Landlord: Thomas K. Lee - New York State Teachers Retirement System; Stefan Hoops - DWS Group
  • Tenant: Andrew Sucoff - Goodwin Procter
  • Tenant's Broker: JD Lumpkin - Cushman & Wakefield

Andrew Sucoff, the real estate partner at Goodwin Procter, expressed the importance of having interconnected office spaces that facilitate collaboration among colleagues. This emphasis on a collaborative office environment aligns with the firm's vision for productive and interactive workspaces, reflecting their commitment to fostering teamwork and communication within the organization.

Players

JD Lumpkin

Cushman & Wakefield

Broker

1 deal

Broker

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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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