CBRE has arranged a new 12,000-square-foot, full-floor lease at 205 W. Wacker for Crafty, a centralized platform for workplaces to manage food, beverage, and supplies for in-office, remote and hybrid teams. Headquartered in downtown Chicago, the company is expanding its footprint, previously occupying 3,500 square feet in the West Loop neighborhood.
CBRE’s Brian McDonnell and Bill Sheehy represented the tenant, Crafty, in the transaction.
Since its launch in 2015, Crafty has expanded to 30 markets across the globe, including New York, San Francisco, London, Dublin, Sydney, Melbourne, Toronto, and Vancouver. The company manages over 260 customer offices, servicing over 300,000 employees per month. In the last year alone, Crafty delivered over 800% top-line revenue growth, raised $10 million in Series A funding, and doubled its employee headcount.
The Chicago office market has seen a tremendous flight to quality buildings over the past two years. According to a recent CBRE report, between Q1 2020 and Q1 2022, 60 office leases of more than 20,000 square feet were signed by tenants relocating in the Chicago market; of those leases, 79% upgraded their space by building class and 85% moved to a building that was either recently built or underwent a major renovation.
