Convene signs lease for Fulton Market location

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

TRD 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

 

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