Updated Dec 4, 2024
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
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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