There were credible rumors1 that Google was going to move into the West Loop, but then Google signed a lease in River North instead. However, according to Crain’s Chicago, it still might happen:
Google Inc. is mapping new office territory in Chicago. The Mountain View, Calif.-based technology giant is in talks to move its Chicago office to the city’s meatpacking district, where it would lease more than 200,000 square feet, sources say. If a deal is struck, it would dramatically reshape the gentrifying Fulton Market-Randolph area, where foodies flock to a thriving restaurant row but major office tenants have yet to arrive. Landing one of the world’s most recognizable companies would bring instant legitimacy to an office market now made up of small tenants in low-rise loft buildings.
… “Google is an unbelievable engine,” says Chicago tenant broker Bob Chodos, a principal at Seattle-based Colliers International who is not involved in the Google deal. “Wherever they go gets bigger.” Google’s employees, mostly in sales, are outgrowing the Kinzie Street tower where the company’s lease for about 150,000 square feet expires at the end of 2015. As Google expands here, it is expected to need more than 200,000 square feet, and possibly up to 300,000, sources say.
Enter Sterling Bay Cos., which reached an agreement to buy the 10-story Fulton Market Cold Storage warehouse, the tallest in the neighborhood, in 2011. The Chicago developer is converting the existing building and an attached new structure into about 540,000 square feet of office and retail at 1000 W. Fulton St. by late next year.
In addition to Google, Boka Restaurant Group—which includes chef Stephanie Izard’s nearby Girl & the Goat and Little Goat Diner—is finalizing a deal for a steakhouse on the ground floor of the former meat storage facility, sources say.
Already, construction of a Soho House hotel is underway near the intersection of Halsted and Randolph streets. Nobu Hospitality Group, whose owners include actor Robert De Niro, in March confirmed its desire to put another boutique hotel and a Japanese restaurant on Randolph.
(click here to continue reading Has Google outgrown River North? – In Other News – Crain’s Chicago Business.)
I’ve taken a few photos of this building over the years…
- which I swear I blogged about, but now cannot find [↩]