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
About this deal
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.
On the Map
$40
$40/SF
Office
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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