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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