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225 West Randolph Street

Golub Capital Leases 200000 SF Office Space At 225 West Randolph Street In Chicago
LEASEDOffice

Golub Capital Leases 200000 SF Office Space At 225 West Randolph Street In Chicago

225 West Randolph Street

Building Size

200,000 SF

Asset Type

Office

Closing

May 23, 2025

AI

The property at 225 West Randolph Street, located in the Chicago market, consists of 200,000 square feet of office space. It is housed within The Bell, a renovated historic tower which has recently attracted major tenants due to significant renovations and incentives.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 225 West Randolph Street
  • Market: Chicago
  • Landlord: Onni Group
  • Tenant: Golub Capital
  • Landlord's Representative: Jack O’Brien & Matthew Whipple - Telos Group
  • Tenant's Representative: Steve Joseph - CBIZ Gibraltar Real Estate Services
  • Leasing Status: 85% leased post-deal
  • Renovation Investment: $140M
  • Incentives Used: Cook County tax incentives

This lease marks a substantial move for Golub Capital, as they occupy a significant portion of office space in a key downtown area. The transaction involves multiple representatives, showcasing collaboration among different agencies, with Onni Group and Telos Group facilitating the landlord's side while CBIZ Gibraltar Real Estate Services represents the tenant.

Players

Jack O’Brien

Telos Group

Broker

6 deals

Broker
CBIZ Gibraltar Real Estate Services
CBIZ Gibraltar Real Estate ServicesBrokerage

Duncan Wlodarczak

Onni Group

Landlord

$45M

vol

4 deals

Landlord

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