Google eyeing space near Fulton Market HQ for first retail store

The tech behemoth is reportedly close to a lease with property owner Newcastle Limited

Chicago /
Aug.August 16, 2018 04:00 PM

Google’s midwest headquarters in Fulton Market and the row of properties at 845-851 West Randolph Street (Credit: iStock and Google Maps)

Google might take its first plunge into brick-and-mortar retail with a 14,000-square-foot lease inside a row of storefronts near its Fulton Market headquarters.

The tech giant is closing in on a deal with property owner Newcastle Limited to set up shop in a series of connected two-story brick buildings at 845-853 West Randolph Street, formerly home to Jaipur and Perez restaurants, according to the Chicago Tribune.

Newcastle has owned the buildings since 2016, when it bought them from the estate of the late businesswoman Sue Gin.

Neither Google nor Newcastle confirmed the lease.

Reports surfaced earlier this year that Google is scouting another 100,000 square feet of office space in Fulton Market, three years after debuting its more than 350,000-square-foot Midwest headquarters at 1000 West Fulton Street.

The neighborhood is seeing an explosion in office construction, including 1.7 million square feet being developed by Sterling Bay on Green Street, along with projects from Shapack Partners, Mark Goodman & Associates and others.

Google’s total worldwide assets encompass at least 70 offices and 15 data centers across 50 countries, combining for real estate assets valued at almost $15 billion. [Chicago Tribune] — Alex Nitkin


Related Articles

arrow_forward_ios
From left: DL3 Realty’s Leon Walker, Discover’s Roger Hochschild, Mayor Lori Lightfoot, and 8560 South Cottage Grove Avenue. (DL3, Discover, Getty, Google Maps)
DL3 Realty signs Discover to big South Side lease
DL3 Realty signs Discover to big South Side lease
Blackstone’s Jonathan Gray and CenterPoint CIO Jim Clewlow with one of the properties, 225 Spring Lake Drive, Itasca (Getty, Linkedin, Google Maps)
Blackstone expands industrial reach with $151M Chicago buy
Blackstone expands industrial reach with $151M Chicago buy
(Arlington Park, Google Maps)
Churchill Downs looks to sell 326-acre Arlington Park race track
Churchill Downs looks to sell 326-acre Arlington Park race track
Chicago this week raised indoor dining to 40% of a venue's capacity. (iStock)
Filling up: Chicago boosts indoor dining capacity
Filling up: Chicago boosts indoor dining capacity
Photo illustration of the Silver Lake Country Club (Silver Lake CC, iStock/Illustration by Kevin Rebong for TRD)
Orland Park golf club hits market as residential redevelopment
Orland Park golf club hits market as residential redevelopment
Sterling Bay’s Andy Gloor (right), JPMorgan’s Jamie Dimon and 370 North Carpenter Avenue in Fulton Market, one of two properties the companies are selling. (Sterling Bay; Getty; Google Maps)
Sterling Bay and JPMorgan test appetite for redevelopment
Sterling Bay and JPMorgan test appetite for redevelopment
Sterling Bay CEO Andy Gloor and Prudential Plaza (Getty)
Sterling Bay sues Tribune over $5M in skipped rent
Sterling Bay sues Tribune over $5M in skipped rent
Berkadia CEO Justin Wheeler with Moran & Co.'s Tom Moran (Getty)
Berkadia picks up longtime multifamily brokerage
Berkadia picks up longtime multifamily brokerage
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...