Zeller is pleased to announce a 34,500-square-foot, 13-year lease at 401 North Michigan to The Scion Group. The Scion Group, one of North America’s leading owners, operators and advisors of student housing, will relocate its corporate headquarters, occupying suites 300 and 400 at 401 North Michigan. The new space will house approximately 230 employees, with the ability to expand to 300 employees.
“The Scion Group is a rapidly growing company, with a national footprint. It’s important that our company headquarters not only be appealing to the over 200 employees who come to the office every day, but also to over 1,000 team members from around the United States who visit us frequently for meetings and training,” said President Robert Bronstein. “401 North Michigan is an iconic building in an iconic location. Our new space will reflect the energy and communication among peers that is central to Scion and our operations. Our employees and visitors, wherever they come from, love the location—the proximity to the Apple store, the Starbucks Reserve Roastery, the Art Institute and everything else Michigan Avenue has to offer.”
“Congratulations to Rob Bronstein and The Scion Group on the company’s expansion. We have excitedly watched, over the last year, as the company consolidated key functions into Chicago from different locations around the country, including Texas,” said Michael Fassnacht, President & CEO, World Business Chicago, Chief Marketing Officer, City of Chicago. “The company is well-positioned for continued growth in its new Mag Mile headquarters location, where it joins other leading national and global brands.”
Located at the epicenter of the Magnificent Mile, 401 North Michigan is an International TOBY award winning building which has achieved LEED Platinum certification, BOMA 360 designation, WELL Health-Safety Rating, Fitwel 3-star certification, and WiredScore Gold certification. The building includes an abundance of amenities including a 7,500-square-foot, full service health club managed by Arch Amenities Group; a 6,000-square-foot shared conference center and tenant lounge; convenient on-site dining at Pine Street Kitchen, with breakfast and lunch options from local producers and restaurants and a barista serving Starbucks Coffee; indoor valet parking including an on-site car wash and vehicle assistance; on-site concierge services; a secure bike room; and direct access to the Riverwalk. The building is also home to Pioneer Court, one of the largest publicly and privately owned plazas in Chicago. Tenants at 401 North Michigan enjoy monthly activation programs on the plaza such as food trucks, morning yoga and cycling classes, the outdoor work park, garden workshops and more. The plaza also is home to Foxtrot Market, the new upscale café and corner store at The Shops at Tribune Tower.
Howard Meyer, Executive Vice President for Zeller, notes: “We are so excited that The Scion Group has chosen 401 North Michigan as its next home. To be able to retain such a high-quality growth company from the neighborhood is a validation of 401’s amenity-rich location and, ownership’s commitment to maintaining the highest quality work environment for our tenants.”
Howard Meyer and Erica Marshall represented the owner, Walton Street Capital, in the transaction. Victor Sanmiguel, Co-Founder of Bespoke Commercial Real Estate represented The Scion Group.
