Paul Posey Of ComPsych Leases 50000 Square Feet At One Prudential Plaza From Wanxiang America
130 East Randolph Street
Building Size
50,000 SF
Asset Type
Office
Closing
Jan 16, 2025
AI
The property involved in this transaction is an office space located at 130 East Randolph Street in Chicago, with a total square footage of 50,000. It is managed by Wanxiang America Real Estate.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 130 East Randolph Street
- Market: Chicago
- Asset Size: 50,000 sq. ft.
- Landlord: Wanxiang America Real Estate
- Tenant: Paul Posey - ComPsych
- Landlord's Representative: Annie Kwasigroch & Daniel Heckman - Riverside Investment & Development
- Tenant's Representative: Brian Means & Kellen Monti - JLL
- Lease Term: long-term
ComPsych, represented by Brian Means and Kellen Monti of JLL, signed a long-term lease for 50,000 sq. ft. at One Prudential Plaza. This decision follows their downsizing from 152,000 sq. ft. at NBC Tower as part of their headquarters relocation, with Wanxiang America Real Estate's leasing team facilitating the deal.
Players
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93