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Stripe Expands Office Lease To 89000 Square Feet At 350 North Orleans Street Chicago

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LEASED
Bradley (Brad) Serot
Paul Reaumond
Michael Kazmierczak
+ 1

Illinois

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Office89,000 SF
Leased 03/06/2025
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Property Image
LEASED

Stripe Expands Office Lease To 89000 Square Feet At 350 North Orleans Street Chicago

350 North Orleans Street

See Similar Deals
Office89,000 SF
Leased 03/06/2025
Bradley (Brad) Serot
Paul Reaumond
Michael Kazmierczak
+ 1
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:89,000 SF
Transaction Type:Lease

The property asset involved in the transaction is an office located at 350 North Orleans Street in Chicago. The asset encompasses a total square footage of 89,000, accommodating a significant expansion for the tenant.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 350 North Orleans Street
  • Market: Chicago
  • Landlord: Stephen A. Schwarzman - Blackstone Group
  • Tenant: Patrick Collison - Stripe
  • Brokers: Brad Serot, Mike Kazmierczak & Paul Reaumond - CBRE

This lease transaction highlights the involvement of key individuals, including Stephen A. Schwarzman representing the landlord and Patrick Collison as the tenant. The brokerage was facilitated by Brad Serot, Mike Kazmierczak, and Paul Reaumond from CBRE, underscoring a collaborative effort in the lease negotiation process.

Players

Bradley (Brad) Serot
CBRE
Bradley Serot
12 deals(312) 935-1403
BROKER
Paul Reaumond
CBRE
Paul Reaumond
5 deals(312) 935-1403
BROKER
Michael Kazmierczak
CBRE
Michael Kazmierczak
2 deals(312) 861-7899
BROKER

Details

LEASED
IMAGE: Paul Reaumond, Stephen A. Schwarzman, Brad Serot, Patrick Collison & Mike Kazmierczak DATE: 03/06/2025 ADDRESS: 350 North Orleans Street MARKET: Chicago ASSET TYPE: Office ~ SF: 89,000 LANDLORD: Stephen A. Schwarzman - Blackstone Group (@Blackstone) TENANT: Patrick Collison (@PatrickCollison) - Stripe (@StripeHQ) BROKERS: Brad Serot (@BSerot), Mike Kazmierczak & Paul Reaumond - CBRE (@CBRE) NOTE: Stripe has doubled its office space at 350 N. Orleans St. in Chicago to 89,000 square feet, extending its lease through 2031 despite rising downtown vacancies. The deal signals fintech growth in the city as other firms, including Adyen and Blue Owl Capital, also expand their footprints.

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Deal Type
Effective Rent (Annual)

$5,101,426.29

Total Lease Value

$51,014,262.94

Net Landlord Cash Flow$5,101,426.29