Iconic design/furniture company Knoll Inc. has closed a long-term lease with Shapack Partners, the owners of the new 811 Fulton building in Chicago’s Fulton Market. Starting January 2019, the tenant will occupy the entire sixth and seventh floors and part of the fifth floor in the building, or a total of 24,000 square feet of showroom and office space. The company is preparing to relocate from its five-decade office within Chicago’s Merchandise Mart, recently rebranded as theMART.

Savills Studley’s Corporate Managing Director Renae Bradshaw together with Vice Chairmen John Goodman and Robert Sevim facilitated the lease, valued at more than $12 million.

“The relocation also reflects the broader trend of companies providing Millennials with lively, urban environments, including retail, convenience and cultural amenities, that support their focus on work-life integration,” said Sevim in a prepared statement.

VINTAGE AND MODERN CHARM

Shapack Partners building is located at the corner of Fulton Market and Halsted Street, less than two miles from the $275 million NEWCITY mixed-use project. Upon its delivery, slated for the second quarter of 2018, it will encompass 70,000 square feet, with retail space at the ground level and office and showroom space on the floors above.

The development features a warehouse-style architecture, with open floorplans and abundant windows. It is proposed for LEED certification.

“In 811 Fulton, Knoll has found an architectural setting that supports our interest in integrated design, and we expect it will energize the next generation of architects, designers and clients to create inspired modern interiors. The footprint is ideally suited to display our innovative products, many of which blur the traditional line between residential/hospitality and commercial furnishings,” said Benjamin Pardo, Knoll’s design director, in a prepared statement.