Convene signs lease for Fulton Market location

The co-working and meeting space firm is moving into a Sterling Bay building, eyeing another

Chicago /
Dec.December 10, 2018 02:00 PM

Andy Gloor and the property

Convene has signed a lease to take an entire floor in a new Sterling Bay office tower in Fulton Market.

The New York-based co-working and meeting space firm is moving into the Chicago developer’s 19-story project under construction at 333 North Green Street in the booming neighborhood, according to Crain’s. It’s also eyeing space in a Sterling Bay-owned building at 311 West Monroe Street

Convene rents out space for companies to hold corporate meetings and events, and it also provides catering, grab-and-go meals and snacks and other amenities in office buildings. Earlier this year it acquired Boston-based startup Beco, which produces small, solar-powered devices that track the movement of people in buildings. The Real Deal recently explored how the typical co-working model has evolved from providing space to freelancers and startups to essentially serving as property management firms for larger companies.

After a $152 million Series D funding round, Convene’s valuation surpassed $500 million.

Angelo Gordon & Co., Hines and Dearborn Capital this summer inked a 50,000-square-foot lease with Convene in the Citadel Center. Convene also is leasing a 55,000-square-foot space not far away in Blackstone Group’s Willis Tower at 233 South Wacker Drive. [Crain’s] — John O’Brien

 

Related Articles

arrow_forward_ios
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
Chicago’s Downtown office market hit new lows in Q4, with sublease availability pushing past 5.4 million square feet. (iStock)
Chicago’s Q4 office market report was grim tally
Chicago’s Q4 office market report was grim tally
The owner of Johnny’s IceHouse East wants to sell the 50,000-square-foot building. (Johnny's IceHouse via Facebook, iStock)
No more ice ice, baby: Indoor skating rink hits market as redevelopment opportunity
No more ice ice, baby: Indoor skating rink hits market as redevelopment opportunity
110 North Carpenter Street and 333 South Wabash Avenue (Sterling Bay, Shvo)
Here are Chicago’s 10 biggest investment sales of 2020
Here are Chicago’s 10 biggest investment sales of 2020
TTX Company CEO Thomas Wells and 101 North Wacker Drive (Google Maps)
Off the rails: Freight train provider lists West Loop HQ for sublease
Off the rails: Freight train provider lists West Loop HQ for sublease
2430 North Halsted Street and Harrison Street's Christopher Merrill (Sterling Bay; Harrison Street)
Harrison Street raises $720M for life sciences real estate fund
Harrison Street raises $720M for life sciences real estate fund
JDL Development's CRP James D. Letchinger and Halsted Flats (Getty, Halsted Flats, JDL Corp)
Luxury building near Wrigley Field hits market for $125M
Luxury building near Wrigley Field hits market for $125M
arrow_forward_ios

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

Loading...