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

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LEASED

Illinois

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Office50,000 SF
Leased
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LEASED

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

433 West Van Buren Street

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Office50,000 SF
Leased
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Summary

ILLINOIS
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:50000 SF
Transaction Type:Lease

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
2 deals(312) 595-2915
BROKER


Details

LEASED
IMAGE: Joe Learner, Robert Sevim, Byron Jobe & Matthew Whipple DATE: 11/11/2024 ADDRESS: 433 West Van Buren Street MARKET: Chicago ASSET TYPE: Office ~ SF: 50,000 LANDLORD: 601W TENANT: Byron Jobe - Vizient LANDLORD'S REP: Matthew Whipple - Telos Group TENANT'S REP: Joe Learner & Robert Sevim - Savills (@Savills) NOTE: Healthcare consultancy Vizient expanded its lease by 50,000 square feet at Chicago’s Old Post Office, taking over space formerly occupied by Uber. Vizient now occupies nearly 190,000 square feet, marking its second expansion since 2022 and contrasting with the trend of office downsizing in downtown Chicago.

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Deal Type
Effective Rent (Annual)

$2,865,969.83

Total Lease Value

$28,659,698.28

Net Landlord Cash Flow$2,865,969.83