Merchandise Mart, Chicago, IL (Danielle Scott Photo/Flickr.com via Creative Commons License)
CHICAGO, IL—Entrust represented LEAP Innovations with its new headquarters office lease of 11,675 SF in the tower of Chicago's iconic Merchandise Mart.
After extensively touring and vetting the Chicago CBD, EnTrust identified a sublease of space in The Mart that featured views of Chicago from all sides and included FF&E and cabling. This space solution minimized disruption of existing programming by allowing LEAP to continue its presence at the Merchandise Mart's 1871 incubator facility while expanding its operations to a creative plug & play space on a full-floor sublease including furniture in the Mart's tower.
EnTrust says it locked-in a long-term lease at a 27% reduction in rent on a per square foot basis compared to the incubator space and further negotiated a gross free rent abatement period.
As part of EnTrust's holistic real estate approach, the firm contributed to LEAP's visioning and space planning process, which ultimately qualified this new location for its office and programming needs.
LEAP Innovations is a leading not-profit dedicated to inspiring, delivering and advancing the practice of equitable, personalized learning experiences, designed to enable every learner to reach their full potential. LEAP has received grants from some of the most prestigious foundations in the world including the Chan Zuckerberg Initiative, the Bill & Melinda Gates Foundation, the Michael & Susan Dell Foundation, and the Pritzker Foundation.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
