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1430 Walnut St, Philadelphi...

Compass Inc. Leases 17239 Square Feet At 1430 Walnut St Philadelphia From Midwood Investment And Development
LEASEDOffice

Compass Inc. Leases 17239 Square Feet At 1430 Walnut St Philadelphia From Midwood Investment And Development

1430 Walnut St, Philadelphia, PA, 19102

Building Size

17,239 SF

Asset Type

Office

Closing

Nov 20, 2023

AI

The property involved in this transaction is located at 1430 Walnut St, Philadelphia, PA, 19102. It is an office space with an area of 17,239 square feet. The market for this lease is Philadelphia, and it was built in 2015. The property also currently houses tenants such as The Cheesecake Factory and Verizon Innovation Center.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not disclosed
  • Address: 1430 Walnut St, Philadelphia, PA, 19102
  • Square Feet: 17,239
  • Tenant: Compass Inc.
  • Landlord: Midwood Investment and Development
  • Tenant's Representative: Josh Meltzer, Compass
  • Landlord's Representatives: Craig Scheuerle and Matthew Guerrieri, Newmark
  • Tenant's Additional Representative: Jay Joyce, Savills Inc.

The leasing deal for the space at 1430 Walnut St was characterized by the involvement of several key individuals from both sides. On the landlord's side, Craig Scheuerle and Matthew Guerrieri represented Midwood Investment & Development while Josh Meltzer and Jay Joyce represented the tenant, Compass Inc. This collaboration reflects the effort from both parties to finalize the lease agreement.

Players

Josh Meltzer

Compass

Broker

1 deal

Broker
Midwood Investment & Development
Midwood Investment & DevelopmentLandlord

Philadelphia 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