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
About this deal
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.
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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