Updated Oct 29, 2024
Digitas Leases 55,000 SF Office Space At The Bourse In Philadelphia
111 S Independence Mall E, Philadelphia, PA 19106, USA
$61
$61/SF
Building Size
55,000 SF
Asset Type
Office
Closing
Jul 17, 2023
About this deal
AI
Advertising agency Digitas has signed a lease for 55,000 square feet at the Bourse in Philadelphia. The office space, located at 111 South Independence Mall East, will be occupied by Digitas, with Amy Lanzi representing the tenant. The asking rent for the lease is $61 per square foot.
Summary of transation details
- Property Type: Office
- Transaction Amount: Not applicable (leased)
- Square Footage: 55,000
- Address: 111 South Independence Mall East, Philadelphia
- Tenant: Digitas
- Tenant's Representative: Amy Lanzi
- Asking Rent: $61/ft
This lease agreement poses challenges for the financing of the Wanamaker Building in Philadelphia. The historic building, which has already been impacted by early lease terminations, now faces additional financial setbacks as a result.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
260049.18%
Cash-on-Cash
-74322.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93