We've spent a ton of time covering the developments of the new Old Post Office and some of the impact it will likely have on the northern area of the Sloop. This has included a slew of new, high-profile tenants such as Walgreens, Pepsico and Cisco. In an interesting twist, another one of those major tenants - Uber - are slightly altering their plans (via Chicago Tribune):
The biggest office tenant headed to the redeveloped Old Post Office could be getting a little smaller as Uber looks to offload a block of the massive space it leased last year.
If Uber finds someone to sublease the space, it would reduce the 463,000-square-foot footprint planned by the company and whittle down what was one of the largest leases signed in the Chicago office market in recent years.
San Francisco-based Uber confirmed the 10-year lease in August. The company’s commitment was a key moment in the $800 million-plus redevelopment of the 2.8 million-square-foot former old main post office at 433 W. Van Buren St., which sat vacant for more than two decades before New York-based 601W Cos. took on the project. The first office tenants moved there in October.
Uber is offering a 10-year sublease on 65,000 square feet, starting Jan. 1 , 2021, according to marketing materials from brokerage CBRE, which represents Uber.
That is about 14% of Uber’s space. In a sublease, Uber could include rights to eventually take back the space as the company expands in Chicago.
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