The Georgetown Company, a New York-based developer and owner of commercial, retail and mixed-use properties, has signed a lease with Primark for 35 N. State Street in Chicago. Primark will take over the entire 45,000-square-foot building and will trade from 36,200 square feet of retail space over three levels. The lease—which paves the way for Primark’s first store in the Midwest—is the largest on State Street since 2014.
Georgetown purchased the building, Located in one of the city’s preeminent retail corridors, in 2011. The property is undergoing a complete renovation tailored to fit Primark’s specific needs, including modernization of the exterior and complete interior remodeling. Once complete, the building will be positioned as a best-in-class retail asset.
“Primark has been searching for a Midwest location as part of the company’s continued expansion into the United States,” said Tom Meager, property director for Primark. “We are fortunate to have found and secured such an impressive location in the heart of the vibrant Chicago market.”
Located at the intersection of State and Washington Streets, 35 N. State Street is near an eclectic mix of restaurants, entertainment options, cultural institutions and world-famous landmarks. The immediate neighborhood has long been known as one of the top shopping destinations in the United States and Primark joins other State Street retailers such as Macy’s, Nordstrom, Saks off Fifth and Disney. The property is also located just blocks away from Millennium Park and the Millennium Station Metro stop.
“We recognized an amazing opportunity with the State Street corridor as one of the most sought-after retail destinations in the country,” said Adam Flatto from Georgetown. “As one of the fastest growing retailers in the United States, Primark is a perfect fit for the building and will be a welcome addition to a popular list of neighboring businesses in the Loop.”
Founded in 1969, Primark is a leading European fashion retailer headquartered in Ireland. Primark offers a diverse range of the latest trends in women’s, men’s and children’s wear, homeware, accessories, beauty products and more at affordable prices. Primark’s first US store opened in September 2015 and it now has nine locations in the Northeast.
In addition to 35 N. State Street, the Georgetown Company’s Chicago projects include K2 Apartments, a 496-unit building in Chicago’s Fulton River District, and retail space at 755 W. North Ave and 214-220 W. Washington St. Paul Bryant and Andrew Becker of MidAmerica represented Georgetown and secured the lease while David LaPierre, Todd Siegel and Phil Golding of CBRE represented Primark.
