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151 N Franklin St, Chicago,...

Facebook Leases 263000 Square Feet At 151 N Franklin St Chicago From The John Buck Company
LEASEDOffice

Facebook Leases 263000 Square Feet At 151 N Franklin St Chicago From The John Buck Company

151 N Franklin St, Chicago, IL, 60606

Building Size

263,000 SF

Asset Type

Office

Closing

Nov 20, 2023

AI

The property involved in this transaction is located at 151 N Franklin St, Chicago, IL, 60606. It encompasses an office space of 263,000 square feet. This newly completed 35-story office building is situated in the Chicago market. The landlord for this lease is The John Buck Company.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 151 N Franklin St, Chicago, IL, 60606
  • Landlord: The John Buck Company
  • Tenant: Facebook
  • Square Feet: 263,000
  • Landlord's Representative: Jon Cordell
  • Tenant's Representative: Cushman & Wakefield

The deal involves key players including Jon Cordell, who represents The John Buck Company, and the tenant, Facebook, which has been represented in this transaction by Cushman & Wakefield. Facebook's U.S. head of industry, Matty de Castro, expressed excitement about their continued presence and growth in Chicago, highlighting the talent pipeline and technology ecosystem in the area.

Players

Jon Cordell

Broker

2 deals

Broker
John Buck

John Buck

The John Buck Company

Landlord

$115.5M

vol

5 deals

Landlord
F
FacebookTenant

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