Analytics8 Leases 13,355 Sq. Ft. Office Space At 55 East Monroe In Chicago
55 East Monroe Street
$24
$24/SF
Building Size
13,355 SF
Asset Type
Office
Closing
Jul 24, 2023
About this deal
AI
Analytics8, a data analytics company, has leased a 13,355-square-foot space at 55 East Monroe in Chicago. This lease marks a significant expansion for Analytics8, as it doubles its current footprint and establishes its U.S. headquarters. The property, an office building owned by PGIMReal Estate, is located in the vibrant Chicago market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Address: 55 East Monroe, Chicago
- Market: Chicago
PGIMReal Estate, the landlord, successfully negotiated this lease with Analytics8. The landlord's representatives involved in the deal were Michael Lirtzman, Marina Zelenkova, and Michelle Levy from Colliers. On the other hand, Victor Sanmiguel, representing Bespoke Commercial Real Estate, served as Analytics8's broker.
It is worth noting that PGIMReal Estate plans to upgrade the common areas of the building in 2024. The property has also experienced strong leasing activity, with over 90,000 square feet leased within the last seven months, indicating positive momentum in the Chicago office market.
On the Map
$24
$24/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
660958.33%
Cash-on-Cash
-188903.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93