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
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