Savills represented Lactalis Heritage Dairy, Inc. the US subsidiary of Lactalis Group, the French-based world leader in dairy, in a multi-year lease transaction at 540 West Madison Street in the West Loop neighborhood. The 35,000-square-foot headquarters will serve as the company’s first location in the Midwest.
Last fall, Lactalis announced the acquisition of Chicago-based Kraft Heinz’s portfolio of natural, grated, cultured, and specialty cheese businesses in a transaction that is expected to close later this year. In order to eventually welcome its acquired workforce, the company was searching for a commuter-friendly downtown location with a workspace that was move-in ready, offered a mix of offices and collaboration space, and included a large kitchen for product development. Savills Vice Chairman Lisa Davidson was engaged to find a new headquarters.
Lactalis decided on the former iManage offices located on the 3rd floor of 540 West Madison. Davidson negotiated for Lactalis to sublease a portion of the space that fit their specific requirements, including being fully built-out with high-level finishes. Additionally, Davidson negotiated that a new test kitchen and additional private offices would be built for Lactalis. Savills Senior Managing Director Rich Dale will oversee project management for the buildout.
Additionally, Savills Vice Chairman Erik Schmall, Corporate Managing Director Dan Thompson, and Assistant Director Peter Cipriano recently represented Lactalis in lease negotiations for its Manhattan office location. Lactalis will move into a 14,750-square-foot space on the 35th floor of 80 Pine Street in the Financial District in fall 2021.