One of the leading jobs-listing websites doesn’t have much use for its 85,000-square-foot office in downtown Chicago.
CareerBuilder has tapped JLL to find a company to sublet its primary office at 200 N. LaSalle St. beginning in July, according to Crain’s.
News of its space-shedding plans follows the news that Groupon is trying to unload 150,000 square feet of space at its headquarters at 600 W. Chicago Avenue.
The sublet plans could signal a wave of layoffs at CareerBuilder; its rival ZipRecruiter furloughed and laid off about one-third of its staff in late March.
CarerBuilder downsized its footprint at Onni Group’s tower from about 162,000 square feet after it was bought in 2017 by Apollo Global Management and Ontario Teachers’ Pension fund. The firm renewed its lease at 200 N. Lasalle in 2018, but took about half the space it previously had, Crain’s reported.
Prior to the pandemic, Chicago’s office leasing market was in good shape. In 2019, companies absorbed more space in downtown than any year since 2007.
The rise in availability in the office sublet market will also depress prices for the new product that has recently come online or is expected to hit the market in the next two years. [Crain’s] — James Kleimann