Verizon Renews 128,894 Square Foot Lease At Continental Towers In Rolling Meadows With CBRE's Representation
1701 Golf Road
Building Size
128,894 SF
Asset Type
Office
Closing
Oct 8, 2025
About this deal
AI
The property involved in this transaction is an office asset located at 1701 Golf Road in Rolling Meadows, Illinois, with a total square footage of 128,894. It is part of Continental Towers, which comprises four office buildings.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 1701 Golf Road
- Market: Rolling Meadows
- Tenant: Verizon
- Landlord's Representative: Joe Stevens & Steve Degodny - Transwestern
- Tenant's Representative: Jon Springer & Andrew Kaplan - CBRE
This lease renewal represents one of the largest office deals in the Northwest suburbs for the year 2025, concluding a significant agreement between Verizon and the landlord. Transwestern and CBRE facilitated the negotiation, with their respective representatives playing crucial roles in the transaction.
On the Map
Office
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Rolling Meadows Office Market Snapshot
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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