Chicago & Midwest + Downtown + Office | April 20, 2021

Downtown Sees Flurry of Office Leases Following Quiet Q1

Lactalis Heritage Dairy’s 35,000-square-foot sublease at 540 W. Madison St. is only one of a recent flurry of office leases in downtown Chicago. Crain’s Chicago Business reported that the leases, coming on the heels of downtown’s worst quarter for demand in 11 years, could be early examples of companies returning to the market.

Along with the Lactalis deal in the West Loop, Impact Networking leased another 31,335 square feet at 150 N. Michigan Ave., bringing its footprint to more 50,000 square feet at an East Loop office it has occupied since 2014.

In the Fulton Market District, furniture company Teknion leased nearly 22,000 square feet at Thor Equities’ new office building at 800 W. Fulton Market. Also in Fulton Market, Kimberly-Clark last week announced that it will open what it calls its North American commercial center in a newly renovated building at 1155 W. Fulton St.

Pictured: 150 N. Michigan Ave.

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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 13-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 15-20 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).