Space race: WeWork, PepsiCo may take a combined 320K sf at 601W Companies’ Old Post Office

The mega-redevelopment project has attracted a number of high-profile tenants like Uber and Walgreens

Sep.September 05, 2019 12:00 PM
PepsiCo CEO Ramon Laguarta and WeWork CEO Adam Neumann with the Old Post Office (Credit: Getty Images)

PepsiCo CEO Ramon Laguarta and WeWork CEO Adam Neumann with the Old Post Office (Credit: Getty Images)

601W Companies’ $800 million redevelopment of the Old Post Office is paying off in a big way.

Recent high-profile tenants like Uber and Walgreens have inked major leases and now, WeWork and PepsiCo may take a combined 320,000 square feet at the building, according to published reports.

PepsiCo’s current offices are six blocks from the Old Post Office at 433 W. Van Buren Street, but the 200,000-square-foot lease it is eyeing would allow them to downsize operations, according to the Rejournals.

The WeWork lease, at 120,000 square feet, would mark the company’s 13th co-working space in Chicago. WeWork has already surpassed 1 million square feet of leased space in the city.

The latest high-profile tenants would join anchor tenant Uber, along with Walgreens, Kroger, Cboe, and others in the 2.5 million-square-foot redevelopment.

The Gensler-designed complex is scheduled to open in October.

Earlier this year, 601W Companies cooperated in a criminal probe against Alderman Ed Burke, who supported the Old Post Office project. The company also owns the Aon Center, the old Carson Pirie Scott department store lot, and other prominent locations. [ReJournals] — Sarah Paynter

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