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:
- Property Type: Office
- Transaction Amount: Not specified
- Square Footage: 50,000
- Address: 433 West Van Buren Street
- Market: Chicago
- Landlord: 601W
- Tenant: Byron Jobe - Vizient
- Landlord's Representative: Matthew Whipple - Telos Group
- Tenant's Representatives: Joe Learner & Robert Sevim - Savills
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
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