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
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