Euromonitor International LLC has signed a 36,023-square-foot lease at 1 N. Dearborn Street in Chicago, increasing its office footprint by 56% in the city. The world’s leading independent provider of strategic market research is moving its North American headquarters from 224 S. Michigan Avenue in October 2018. Colliers International I Chicago’s Tony Karmin, principal, and Corby Marx, senior vice president, represented the firm in the transaction.
“Euromonitor has been growing steadily here in Chicago,” said Marx. “We’re elated that we could take advantage of a unique position in an otherwise tight market to find a space that could accommodate the current team but also allow long-term flexibility. Plus we know that employees will be positively affected by the one-of-a-kind office.”
With the lease, Euromonitor will take over the 17th floor of the Loop office tower. The space features skylights and direct access to the rooftop deck as well as now defunct chimneys that, once refurbished, will serve as the foundation for new creative uses such as a library or rock-climbing walls.
Since buying the building in October 2015, owner Beacon Capital Partners has completed a total overhaul of the turn-of-the-century property designed by Holabird and Roche. In keeping with today’s tenant demands, the firm added a state-of-the-art fitness center, an indoor lounge that doubles as private event space and the outdoor deck.
The building’s central location and new amenities package were the main drivers in Euromonitor’s decision to lease a full floor at 1 N. Dearborn Street. “We are looking forward to moving into the space,” said Euromonitor COO Brad Borgman. “As we continue to grow, we need a flexible, modern office that meets our needs and reflects our company culture.”
Telos Group’s Jack O’Brien and Caroline Colnon represented Beacon Capital Partners in the transaction.