Chicago & Midwest + Downtown + Office | May 4, 2020

Echo Global Logistics and VSA Partners renewed for a total of 210,000 square feet at Sterling Bay's 600 W Chicago in River West

Groupon Puts Half Its Headquarters Space Up for Sublease

Groupon has put 150,000 square feet, about half its headquarters space at 600 W. Chicago Ave., on the market for sublease, the Chicago Tribune reported. It’s the largest amount of space to come up for sublease in downtown Chicago since the coronavirus pandemic all but shut down the real estate market in recent months

The deal company’s lease at 600 W. Chicago runs until January 2026, according to the marketing materials from CBRE’s Marina Zelenkova, Paul Reaumond and Todd Lippman. Its name is atop the 1.65-million-square-foot former Montgomery Ward catalog warehouse.

Although sublease space downtown has been at an all-time low in recent years, local real estate experts anticipate a wave of it will flood the market this year as companies lay off workers and slash costs following the rapid economic slowdown. Groupon laid off or furloughed 2,800 employees, about 44% of its workforce, last month.

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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).

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