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350 North Orleans Street

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

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

350 North Orleans Street

Building Size

89,000 SF

Asset Type

Office

Closing

Mar 6, 2025

AI

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 Serot

CBRE

Broker

12 deals

Broker

Patrick Collison

Stripe

Tenant

7 deals

Tenant

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