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320 S Canal St Chicago, Il ...

Molson Coors Beverage Company Signs Long-Term Lease At BMO Tower In Chicago
LEASEDOffice

Molson Coors Beverage Company Signs Long-Term Lease At BMO Tower In Chicago

320 S Canal St Chicago, Il 60606, Usa

$36

$36/SF

Building Size

83,848 SF

Asset Type

Office

Closing

May 11, 2023

AI

Riverside Investment and Development, along with Convexity Properties, have secured a long-term lease with Molson Coors Beverage Company for an 83,848-square-foot space at 320 South Canal in Chicago. The property, also known as BMO Tower, will serve as the new Americas headquarters for Molson Coors. The lease agreement allows for increased collaboration in a modern, open-concept environment spread across three floors. The relocation is scheduled to take place in summer 2024.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not available
  • Address: 320 South Canal, Chicago

Molson Coors Beverage Company, a multinational brewing company, will be relocating its Americas headquarters to the newly leased space at 320 South Canal. The move signifies their commitment to fostering collaboration and innovation in a modern office setting. Riverside Investment and Development, in partnership with Convexity Properties, facilitated the lease agreement, ensuring that Molson Coors found the ideal location to establish its new headquarters.

Players

Christy Domin

Riverside Investment & Development Company

Broker

2 deals

Broker

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

440638.89%

Cash-on-Cash

-125935.95%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93