ShopperTrak is latest to ink lease at 601W’s Old Post Office

Retail analytics firm will occupy over 28K sf of space as complex edges toward fully leased

The Old Post Office with ShopperTrak CEO Bill McCarthy (Wikimedia)
The Old Post Office with ShopperTrak CEO Bill McCarthy (Wikimedia)

Another business is moving into 601W Companies’ massive Old Post Office as it edges toward fully leased.

ShopperTrak, whose 300 employees provide tools to monitor foot traffic and shopping patterns, is leasing more than 28,000 square feet on the fourth and fifth floors of the 2.8 million-square-foot behemoth, Crain’s reported. The firm is actually cutting office space, down from the 52,000 square feet it has leased since 2012 on the 41st floor of the Willis Tower.

It will join Uber, Cisco Systems, PepsiCo and Ferrara Candy. Bitcoin ATM operator CoinFlip also recently signed a deal to lease 44,000 square feet. The complex is now almost 95 percent leased.

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The ShopperTrak deal comes as companies have downsized offices amid the pandemic, which pushed the city’s downtown office vacancy rate to a high of 19.3 percent in the second quarter. United Airlines, which leases the largest portion of the 110-story Willis Tower, has said it plans to cut its office space there by 150,000 square feet.

The Old Post Office, a mail terminal, was vacant for two decades after being decommissioned in 1997. New York-based 601W bought the property in 2016 for $130 million. It completed an $800 million renovation that included replacing more than 2,000 windows.

[Crain’s] — Victoria Pruitt