Kyle Robbins Of Transwestern Represents Spectrum Science Communications In Chicago Office Lease Deal
71 S Wacker Dr, Chicago, IL, 60606
Building Size
4,871 SF
Asset Type
Office
Closing
Dec 13, 2018
AI
Located at 71 S Wacker Dr, Chicago, IL, 60606, the property involved in this lease transaction is an office asset spanning 4871 square feet. The landmark 48-story modern workplace community is owned by Irvine Company Office Properties and attracts a diverse range of customers from various industries in downtown Chicago.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not applicable
- Tenant's Representative: Kyle Robbins (Transwestern)
- Tenant: Spectrum Science Communications
- Landlord: Irvine Company Office Properties
The lease deal at 71 South Wacker saw Spectrum Science Communications, a marketing and communications agency specializing in health and consumer organizations, secure a 4871 square feet space within the prestigious office building. The transaction was facilitated by Kyle Robbins of MB Real Estate representing the tenant, under the representation of Benesch Law by Brad Despot, Annie Nicolau, and Mark Georgas from JLL, who represented the Irvine Company in all deals.
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