Motorola Seeks to Downsize Downtown Chicago Lease as COVID-19 Lingers

Telecommunications equipment company Motorola Solutions is seeking to downsize its downtown office presence in Chicago by one-third, according to Crain’s Chicago Business. 

Citing an offering circular, Crain’s says Motorola is putting up nearly 54,000-sf for sublease at its 500 W Monroe Street headquarters, The space is on two of Motorola’s seven floors in the 44-story high-rise part of the property, which is located in the West Loop. 

Motorola’s move is just another example of how downtown office markets nationwide are struggling as COVID-19 lingers. Also, employees increasingly express preference for remote work or hybrid solutions that combine remote with some office. 

Motorola’s big sublease will just add to Chicago’s downtown office woes, adding more vacancy to what are already record vacancy rates. At just slightly more than 20%, Chicago Loop vacancies are at a record already, according to CBRE. Pete Delneky, James Whelan and Todd Lippman in the Chicago office of CBRE are marketing the Motorola Solutions space, according to Crain’s.