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
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