CHICAGO— It's still not known how the city's downtown market will handle all the new office space coming online, but one hopeful sign is that many tenants in the CBD are expanding right along with the economy. Such expansions will be the key to the market's future, as most firms also continue to seek ways to use office space more efficiently.
Euromonitor International LLC just provided a good example of that by signing a 36,023-square foot lease at 1 N. Dearborn St., increasing its office footprint by 56% in the city. The provider of strategic market research will move its North American headquarters from the Railway Exchange Building at 224 S. Michigan Ave. in October 2018.
“The company is shrinking its footprint on a per person basis, but it is significantly growing its headcount,” Corby Marx, a senior vice president of Colliers International I Chicago, tells GlobeSt.com. Along with Tony Karmin, principal, he represented the firm in the transaction.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
