Chicago's Old Post Office Secures Two New Lease Agreements
CHICAGO, April 23, 2019 /PRNewswire/ -- Two companies owned by supermarket chain Kroger are the latest to lease office space at Chicago's historic Old Post Office Building, which is currently finalizing an $800m renovation.
The Telos Group LLC, the building's marketing agent, and 601W Companies, its owner, today said that Home Chef, a meal-kit delivery company, and 84.51, a marketing agency focused on the retail sector, have agreed to lease space in the property totaling more than 130,000 square feet of space. HomeChef will lease nearly 75,000 square feet of space, and 84.51 will lease approximately 57,000 square feet.
The addition of Home Chef and 84.51 to The Old Post Office's tenant roster means the property has currently secured six significant, long-term lease agreements during the past year totaling more than 540,000 square feet and including Walgreens, Ferrara Candy Company, and AbelsonTaylor.
"The addition of these two dynamic firms and the confidence of its Fortune 50 parent is another big boost for our goal of providing a progressive, neighborhood-based office environment within the Old Post Office. They will continue to build our tenant diversity and add to the community of companies working and collaborating within the building," said Brian Whiting, president of The Telos Group LLC.
Home Chef currently occupies space at The Wrigley Building. 84.51, which is based in Cincinnati, currently occupies space at 20 W. Kinzie Street. Both companies will vacate their current Chicagoland offices to move into The Old Post Office, with the 84.51 lease commencing on Oct. 1 and the Home Chef lease commencing on Dec. 1.
Stephen Smith, Jamey Dix, and Daniel Heckman of The Telos Group represented The Old Post Office Building. Home Chef was represented by CBRE in the transaction, and 84.51 was represented by Cushman & Wakefield.
About The Telos Group, LLC
The Telos Group, LLC provides leasing, marketing and consulting services in Chicago and Minneapolis and consulting services for real estate businesses nationwide. Telos employs a disciplined and goal driven process to create entrepreneurial solutions customized for each assignment. As Chicago's only dedicated owner representation firm, it has been the leader in shaping the evolution of office space for innovative businesses. Telos represents a portfolio of 28 million square feet encompassing historic to trophy buildings owned by diverse ownership groups, from entrepreneurial investor consortiums to international institutions. In addition to Aon Center the firm has been involved in the City's largest turn-around and redevelopment projects, such as Willis Tower, Prudential Plaza and The Old Main Post Office project. The firm was awarded Office Property Representative of the Year for 2012, 2013, 2014, 2015 and 2017 by the Chicago Commercial Real Estate Awards. To learn more about The Telos Group, LLC, visit www.telosgroupllc.com.
About The 601W Companies
The principals of 601W oversee one of America's leading private real estate acquisition, ownership, development and management portfolios in the country. Over the past 25 years, 601W has acquired substantial and well-known commercial properties throughout the country, aggregating 45 million square feet, with a collective value in excess of $8 billion. In relation to these deals, 601W has raised more than $2 billion in equity, mostly from longstanding investors, and has consummated transactions involving major office buildings, including 12 in Manhattan and 6 in Chicago. Visit www.601wcompanies.com to learn more.
SOURCE The 601W Companies
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