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400 North Noble Street, Chi...

Barstool Leases Industrial Space In Chicago's Noble Street With Landlord Magnetar Capital -Jeff Shapack & Alec Litowitz
LEASEDIndustrial

Barstool Leases Industrial Space In Chicago's Noble Street With Landlord Magnetar Capital -Jeff Shapack & Alec Litowitz

400 North Noble Street, Chicago, Illinois 60642, United States

$45

$45/SF

Building Size

40,000 SF

Asset Type

Industrial

Closing

Apr 7, 2023

AI

The industrial property located at 400 North Noble Street in Chicago has been leased. The lease transaction took place on April 7, 2023. The asset spans a total of 40,000 square feet and falls under the category of industrial properties.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Date: April 7, 2023
  • Address: 400 North Noble Street, Chicago

The landlord of the property is Magnetar Capital, represented by Jeff Shapack and Alec Litowitz. On the other hand, the tenant is Barstool, represented by Dan "Big Cat" Katz, David Portnoy, and Erika Ayers. Shapack Partners acted as the landlord's representatives, with Paige O'Neil and Annie Aldrich representing them. Cushman & Wakefield represented the tenant, with Jeff Skender, Scott Shelbourne, and Ari Klein serving as their representatives.

The asking rent for the lease was $45 per square foot, with a total area of 40,000 square feet.

Players

Annie Aldrich

Shapack Partners

Broker

1 deal

Broker

Alec Litowitz

Magnetar Capital

Landlord

$20M

vol

2 deals

Landlord
MC
Magnetar CapitalLandlord
Dave Portnoy

Dave Portnoy

Barstool Sports

Tenant

$93.5M

vol

7 deals

Tenant

Chicago Industrial Market Snapshot

Boundary boundary · Industrial · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

352511.11%

Cash-on-Cash

-100748.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93