CHICAGO—JRG Capital Partners, LLC is ready to develop an office complex that will give tenants looking for offices just outside Fulton Market District the option to have large floor plates. The company has also appointed Newmark Grubb Knight Frank as its exclusive leasing agent for the new campus development at 1260 W. Madison St. NGKF will market and pre-lease the campus.
“We see this as a tremendous blank canvas,” NGKF's senior managing director Matt Ward tells GlobeSt.com. An existing structure on the site will be torn down, most likely in early 2018, and rather than replacing it with just a standard office building, the developer will create a customized design based on the needs and desires of whichever large corporate tenants take the space.
JRG plans to complete the project by November 2018. The 75,000-square-foot land parcel encompasses a full square block in the heart of Chicago's West Loop, just blocks away from the new headquarters of both McDonald's and Google. The developers envision a two-building campus with large floor plates and high ceilings that will maximize the amount of natural light that flows into customized office spaces. Tenants will also have access to roof top terraces as well as bicycle storage rooms.
“This is an opportunity to do something unique on a whole city block,” adds Ward. A main building could be anywhere from three to six stories high, perhaps alongside an additional structure that could be used as lab or research and development space. But the plans remain fluid. “The new McDonald's headquarters is an excellent example of what we want to accomplish.”
Ward and senior associate Melissa Porcelli will lead the brokerage team assigned to lease the new development.
“There are very few options available right now for companies seeking large floor plates near Fulton Market,” says Ward. “1260 W. Madison is the ideal size and location to satisfy current demand in this submarket. Furthermore, being located just outside of Fulton Market District enables maximum architectural flexibility and the ability to integrate unique spaces for corporations like lab space, showrooms, data centers or high-tech assembly, for example. The possibilities are endless.”
CHICAGO—JRG Capital Partners, LLC is ready to develop an office complex that will give tenants looking for offices just outside Fulton Market District the option to have large floor plates. The company has also appointed Newmark Grubb Knight Frank as its exclusive leasing agent for the new campus development at 1260 W. Madison St. NGKF will market and pre-lease the campus.
“We see this as a tremendous blank canvas,” NGKF's senior managing director Matt Ward tells GlobeSt.com. An existing structure on the site will be torn down, most likely in early 2018, and rather than replacing it with just a standard office building, the developer will create a customized design based on the needs and desires of whichever large corporate tenants take the space.
JRG plans to complete the project by November 2018. The 75,000-square-foot land parcel encompasses a full square block in the heart of Chicago's West Loop, just blocks away from the new headquarters of both McDonald's and
“This is an opportunity to do something unique on a whole city block,” adds Ward. A main building could be anywhere from three to six stories high, perhaps alongside an additional structure that could be used as lab or research and development space. But the plans remain fluid. “The new McDonald's headquarters is an excellent example of what we want to accomplish.”
Ward and senior associate Melissa Porcelli will lead the brokerage team assigned to lease the new development.
“There are very few options available right now for companies seeking large floor plates near Fulton Market,” says Ward. “1260 W. Madison is the ideal size and location to satisfy current demand in this submarket. Furthermore, being located just outside of Fulton Market District enables maximum architectural flexibility and the ability to integrate unique spaces for corporations like lab space, showrooms, data centers or high-tech assembly, for example. The possibilities are endless.”
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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.
