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125 South Clark Street

SpotHero Expands Office Lease At The National Building In Chicago
LEASEDOffice

SpotHero Expands Office Lease At The National Building In Chicago

125 South Clark Street

$40

$40/SF

Building Size

32,930 SF

Asset Type

Office

Closing

Jun 26, 2023

AI

The National Building in Chicago's market has secured a new tenant with the lease of the 2nd floor to SpotHero, a local parking reservation marketplace. The office space, located at 125 South Clark Street, offers a total of 32,930 square feet for the company's operations. SpotHero aims to foster collaboration and creativity by providing an inspiring workspace for its team.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: N/A
  • Address: 125 South Clark Street
  • Market: Chicago
  • Tenant: SpotHero
  • BROKERS: Bill Sheehy & Brad Serot - CBRE

SpotHero's lease expansion to the 2nd floor of The National Building, facilitated by brokers Bill Sheehy and Brad Serot from CBRE, marks a significant milestone for the Chicago-based company. This move allows SpotHero to accommodate its growing team and further establish its presence in the market.

Players

Bradley Serot

CBRE

Broker

12 deals

Broker

Chicago 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

396575.00%

Cash-on-Cash

-113342.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93