facebook
Traded Co logo
Submit a Deal
111 West Washington Street
LEASED

Vornado Realty Trust Leases 90,000 SF Office Space To Grubhub In Chicago Transaction

111 West Washington Street

Office
90,000 SF
clock iconLeased 60 days ago
the dealplayerscompscontact
share iconContact now

Summary

Lease
ILLINOIS
Office
90,000 sqft

The office property located at 111 West Washington Street in Chicago, spanning 90,000 square feet, has been leased in a transaction involving Steven Roth from Vornado Realty Trust as the landlord and Howard Migdal from Grubhub as the tenant.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not available
  • Address: 111 West Washington Street
  • Market: Chicago
  • Landlord: Steven Roth - Vornado Realty Trust
  • Tenant: Howard Migdal - Grubhub

Vornado Realty Trust successfully secured Grubhub as a new tenant for its Merchandise Mart building, where Grubhub is close to finalizing a sublease deal for the 90,000 square feet previously occupied by Paypal. This move by Grubhub relocating from the Burnham Center reflects the current trend of rising office vacancies in Chicago, influenced by the shift to remote work due to the pandemic and competitive market conditions. It also aligns with Grubhub's strategic cost-cutting initiatives amidst a challenging competitive landscape.

Details

Deal Summary
minus icon
LEASED
IMAGE: Steven Roth & Howard Migdal DATE: 03/08/2024 ADDRESS: 111 West Washington Street MARKET: Chicago ASSET TYPE: Office ~ SF: 90,000 LANDLORD: Steven Roth - Vornado Realty Trust (@VornadoRealtyTrust) TENANT: Howard Migdal - Grubhub NOTE: Vornado Realty Trust secured Grubhub as a new tenant for its Merchandise Mart building in downtown Chicago, with the online food-ordering company nearing a deal to sublease 90,000 square feet from Paypal. Grubhub's move from the Burnham Center signals a continuation of Chicago's concerning trend of increasing office vacancies, driven by pandemic-induced remote work and competition pressures, while also aligning with the company's cost-cutting measures amidst a competitive market.

View on map

Loading...

Address111 West Washington Street

Comparables

No listingsThis user does not have deals with the selected filters yet.
Reset filters to show results.