Medical supply company Medline is tripling the size of its office space in Vornado Realty Trust’s Merchandise Mart.
Medline occupies 51,000 square feet but will expand to take over much of the 12th floor of the building in a 161,000-square-foot lease that is effective through 2036. The Northfield-based company has nearly 40,000 employees across its offices.
Medline was represented by J. Frank Franzese and Steven Bauer of Colliers in the leasing transaction, and Vornado was represented by Andrea Saewitz, Wendy Katz and Ben Cleveland of Stream Realty.
Other tenants of the Merchandise Mart include Motorola Mobility, PayPal, Conagra Brands, Allstate, Avant and Grainger.
Filling the River North mega-building with tenants is no easy task, especially amid a post-pandemic trend of office downsizing. The 25-story property contains 4 million square feet of office and showroom space and spans two city blocks.
It’s been a busy year for the property with high profile subleases, departures and newcomers.
Advertising and public relations firm, IPG, closed in on a deal to lease up to 80,000 square feet in the Mart last October. Grubhub snagged a 90,000 square foot sublease at the Mart in March, around the same time Steelcase vacated its 50,000 showroom and offices at the property.
Kin Insurance filled another sublease in June, taking up 20,000 square feet.
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The shake ups have done little to change the city’s overall office landscape as several Merchandise Mart tenants relocated from or to other Chicago properties, often downsizing in the process.
Vornado has invested $70 million in renovations to attract tenants and encourage current ones to renew or expand, adding a tenant lounge, fitness center and adjacent river park.