Udemy Renews 59000 Square Foot Office Lease At 600 Harrison Street San Francisco Until 2029
600 Harrison St san
Building Size
59,000 SF
Asset Type
Office
Closing
Jul 26, 2024
AI
The property asset involved in this transaction is located at 600 Harrison Street in San Francisco and is used as office space. The total square footage of the asset is 59,000 square feet. The landlord for this property is Pell Development Co.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Lease renewal
- Address: 600 Harrison Street
- Market: San Francisco
- Landlord: Pell Development Co.
- Tenant: Greg Brown - Udemy
- Broker: Robert Kraynak - CBRE
- Lease Duration: Until 2029
In this deal, Udemy, an online education company, renewed its lease for its headquarters location, emphasizing the commitment to maintaining collaboration spaces for its employees despite post-pandemic trends of downsizing among office tenants. The renewal was represented by broker Robert Kraynak from CBRE.
Players
San Francisco Office Market Snapshot
Boundary boundary · Office · Lease transactions
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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