Trammell Crow Inks 35 KSF Lease at Chicago Life Science Campus
A division of Tokyo-based Kuraray Group will open an innovation and technical center at the property.
Other tenants at 1375 West Fulton include Portal Innovations and Xeris Pharmaceuticals. Image courtesy of Trammell Crow Co.
Trammell Crow Co. has signed a 35,021-square-foot lease at 1375 West Fulton, a 301,260-square-foot life science building in Chicago. Colliers represented the tenant, MonoSol—a division of Tokyo-based Kuraray Group—, while CBRE advised the landlord.
MonoSol will occupy the last full floor of the property by the second half of 2024. The firm plans to open an innovation and technical center focused on its water-soluble film and material science technologies.
The life science asset is now roughly 98 percent leased. Other tenants include Portal Innovations and Xeris Pharmaceuticals, CommercialEdge data shows, but also Chan Zuckerberg Biohub Chicago.
The 14-story property is part of Fulton Labs, a life science campus measuring 725,000 square feet spread across two buildings. 1375 West Fulton features column-free lab spaces, floorplates ranging between 25,916 and 35,004 square feet, a roof deck and a café, along with some 13,060 square feet of first-floor retail space. The LEED Gold-certified property also comprises a community garden.
Located at 1375 W. Fulton Market, the asset is close to several dining and retail options. Downtown Chicago is 2.7 miles southeast, while Chicago Midway International Airport is some 11 miles away. O’Hare International Airport is 16 miles northwest.
The CBRE brokers for the transaction included Executive Vice President Dan Lyne and Senior Vice President Kelsey Scheive. The Colliers team that represented the tenant comprised Principal and Executive Vice President David Burden and Senior Vice President Andrew Urban.
Chicago doubles office pipeline
According to CommercialEdge research, Chicago had 3.6 million square feet of office space under construction at the end of the third quarter. Year-to-date through the first nine months of the year, construction started on approximately 1.7 million square feet, more than double compared to the square footage that broke ground during the same period of last year.
Trammell Crow’s Chicago footprint also includes a 302,388-square-foot life science building. Slated for completion in late 2024, the property represents the second phase of a 1.1 million-square-foot mixed-use redevelopment.
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