Morningstar leases 275K sf at Google's Thompson Center

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Morningstar has signed the largest downtown Chicago office lease of the year, taking 275,000 square feet at Google's revamped James R. Thompson Center at 100 West Randolph Street. The investment research firm will occupy that space out of the 400,000 square feet Google has available on the building's upper floors, and is set to move in in 2028 when its lease at 22 West Washington Street expires. Morningstar currently has 1,500 employees working out of 260,000 square feet at the 22 West Washington location. The sweeping renovation of the 1.2 million-square-foot Thompson Center is being watched as a potential catalyst for the struggling Loop office market, where downtown vacancy rates fell only slightly last quarter, partly because adaptive reuse projects erased space rather than filled it. Morningstar founder Joe Mansueto, who is also building a new stadium for his Chicago Fire MLS franchise in Related Midwest's the 78 megadevelopment, has said the firm was looking for a new Loop home as part of efforts to revive the area and called the Thompson Center redevelopment a huge boost.

Impact on assets 2

Financials▲ · 1 stocks
Morningstar Inc
MORN
▲ PositiveCapitalrelevance

Morningstar signs the largest downtown Chicago office lease of the year, taking 275K sf at the Thompson Center for its new Loop headquarters.

Artificial Intelligence▲ · 1 stocks
Alphabet Inc Class C
GOOG
▲ PositiveDemandrelevance

Google leases 275K sf of its available Thompson Center space to Morningstar, filling part of the 400K sf it has on the upper floors.

Off-coverage companies 1

Related MidwestPrivate± Mixed
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