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
About this deal
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.
On the Map
Office
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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