Pinterest Leases 30,000 Sqft Office Space In Chicago From JPMorgan Asset Management
LEASED
Illinois
See Similar DealsOffice30,000 SF
Leased 08/08/2018
LEASED
Pinterest Leases 30,000 Sqft Office Space In Chicago From JPMorgan Asset Management
101 N Canal St, Chicago, IL, 60606
See Similar DealsOffice30,000 SF
Leased 08/08/2018
Summary
ILLINOIS
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:30,000 SF
Transaction Type:Lease
The office property involved in this leased transaction is located at 101 N Canal St, Chicago, IL, 60606. The asset is an office space spanning 30,000 square feet in the Chicago market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not provided
- Tenant: Pinterest
- Landlord: JPMorgan Asset Management
- Tenant's Rep: Kyle Kaminski(JLL)
Pinterest, a San Francisco-based social media sharing site, is the tenant in this deal, relocating from smaller offices at 320 West Ohio Street to the new 30,000 square feet space at 111 North Canal Street in the West Loop of Chicago. The company has seen significant growth in its Chicago headcount from just one employee in 2014 to 115 employees currently, with plans for further expansion in the city. Pinterest's move aligns with other tech giants like Facebook expanding their presence in Chicago.
Players
LENDER
LANDLORD
Details
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$1,719,581.90
Total Lease Value
$17,195,818.97
Net Landlord Cash Flow$1,719,581.90
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