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433 West Van Buren Street

Vizient Expands Lease By 50000 Square Feet At Chicago's Old Post Office With Telos Group
LEASEDOffice

Vizient Expands Lease By 50000 Square Feet At Chicago's Old Post Office With Telos Group

433 West Van Buren Street

Building Size

50,000 SF

Asset Type

Office

Closing

Nov 11, 2024

AI

The property involved in this transaction is an office asset located at 433 West Van Buren Street in Chicago, covering an area of 50,000 square feet. The total office space occupied by Vizient is now nearly 190,000 square feet, following this expansion at the Old Post Office which was previously leased by Uber.

Summary of transaction details:

The key individuals involved in this transaction include Byron Jobe representing the tenant Vizient, along with Joe Learner and Robert Sevim from Savills acting as tenant representatives. Matthew Whipple from Telos Group represents the landlord, 601W, in this lease agreement.

Players

Joe Learner

Savills

Broker

3 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93