The Marketing Store Worldwide has signed a long-term, 31,348-square-foot lease to consolidate and relocate its global corporate and North American headquarters to 55 W. Monroe in Chicago. Studley Executive Managing Director Robert Sevim and Executive Vice President Joe Learner arranged the transaction on TMSW’s behalf.
The Marketing Store Worldwide currently occupies space at 701 E. 22nd St. in Lombard; 1801 S. Meyers Road in Oak Brook Terrace; and 150 N. Wacker Drive in downtown Chicago. Combining these three facilities – which total approximately 65,000 square feet – at the new location will boost the brand activation agency’s efficiency.
“After extensive analysis, we uncovered a space solution that met our client’s immediate and long-term business and human resources objectives,” Sevim said. “Not only were we able to negotiate a favorable financial package but we were also able to reduce The Marketing Store’s Chicago-area real estate footprint by more than 50 percent.”
In addition to securing favorable market rates, the Studley team negotiated exterior building monument signage and a tenant improvement package that includes both build-out and furniture.
“We are looking forward to our upcoming move to 55 W. Monroe,” said Simon Marshall, executive vice president and managing director North America. “Moving to one central location in the heart of downtown Chicago’s cultural center is no accident. Our new location infuses our talent with some of the richest inspiration from world-class art to music to history and architecture, and gives our employees and clients additional exposure to the latest seminars and thought leadership from Chicago’s top influencers.”
Jack McKinney Jr., a vice president with JF McKinney & Associates Ltd, along with Matt Lerner from JF McKinney & Associates Ltd, represented building ownership, The Hearn Company.
Under The Hearn Company’s ownership, 55 W. Monroe has undergone extensive renovations. The building now boasts brand new amenities including completely renovated fitness and conferencing centers, as well as a redesigned lobby, new building entrances and a robust spec suite program.
“The Marketing Store is in many ways a watershed lease transaction for both the building and Central Loop submarket, and proves that this location is a viable option for progressive tenants that need to recruit and retain the best talent,” McKinney said.
The Marketing Store Worldwide has been headquartered in Chicago’s western suburbs since its inception in 1986. Approximately 160 suburban employees will relocate to 55 W. Monroe when the company takes occupancy in early 2013.
