LEAP Innovations Leasing 12K SF at Chicago's Merchandise Mart
EnTrust says it locked-in a long-term lease at a 27% reduction in rent on a per square foot basis and negotiated a gross free rent abatement period.
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.