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Chicago & Midwest  + Downtown  + Office  |  June 18, 2021
Paul Bubny
By: Paul Bubny

Bay Area Tech Tenant Nears Deal for Fulton Market Sublease

Farmers Business Network is finalizing a deal to sublease more than 40,000 square feet from marketing firm Mosaic in a Fulton Market loft office building at 320 N. Elizabeth, Crain’s Chicago Business reported, citing sources familiar with the negotiations. A deal would add San Carlos, CA-based FBN to the list of Bay Area tech firms ramping up operations in Chicago.

It’s unclear how many jobs FBN plans to bring to Chicago, Crain’s reported. A CBRE flyer marketing the 320 N. Elizabeth space for sublease said the office can accommodate more than 250 workers.

Crain’s reported that FBN’s potential move represents both good and bad news for downtown office landlords, currently facing the highest vacancy rate on record. Any new commitment shows that companies see the value of returning to offices in a post-COVID world, but swaths of move-in ready sublease space undercut the deals landlords can offer for vacant space.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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