Mark Goodman and Tishman Speyer have inked a food-packaging tech startup to a 50,000 square-foot lease at their newly developed office building in Fulton Market.
The duo’s deal with Hazel Technologies at 320 N. Sangamon Street was first reported in Crain’s.
Hazel will occupy the third and fourth floors of the 270,000-square-foot, 13-story building that Mark Goodman and Tishman completed earlier this year.
With the new lease, Hazel will move its current staff of 35 people — it intends to double that number by year end — from its current location at the Illinois Institute of Technology tech park in Bronzeville.
The deal with Hazel also reflects the recent leasing uptick in the trendy neighborhood whose office market — like the rest of the city — was hit hard by the pandemic, as companies exited leases or reduced their footprint.
The improvement is good news for Tishman and Mark Goodman, which built 320 N. Sangamon on spec, showing their confidence in the neighborhood. Other Fulton Market developers have followed a similar path despite the glut of new product that has hit the market. The first tenant to ink a deal for space in the building was Tock,a restaurant reservation company that has leased 50,000 square feet, according to the report.
Other companies moving into Fulton Market offices recently include Kimberly-Clark, Foxtrot Market, Jet Support Services, Calamos Investments and Tik Tok.
[Crain’s] — Victoria Pruitt