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
Philadelphia Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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