TCC Signs 17,000-SF Lease for Mattiq at Fulton Labs in Chicago
The Clean Chemistry Company Will Occupy Half of a Floor at 400 N Aberdeen
January 25, 2024
Trammell Crow Company, a global real estate development firm, announced that it signed a new lease within its Fulton Labs life science campus for Mattiq. The clean chemistry company will occupy 17,377 square feet of space on the sixth floor of 400 North Aberdeen, located in Chicago’s Fulton Market neighborhood. Mattiq will move into the space in September 2024 and will focus on growing the company’s electrochemical solutions portfolio to bring cost-competitive, low-carbon chemical products to market.
“In 2023, our Fulton Labs team had incredible momentum in the leasing of the state-of-the-art life science campus, having signed deals for over 120,000 square feet of space at both 1375 West Fulton and 400 North Aberdeen,” shared TCC‘s John Carlson. “We are energized to build off of this momentum into 2024, starting with this lease for Mattiq, a highly innovative company that will utilize its new office and lab space to further the development and application of its technology across a range of industries and use cases. Mattiq joins an incredible roster of like-minded tenants, and we are excited to welcome them to the building later this year.”
Spun out of Northwestern University by co-founders Professor Chad Mirkin and Dr. Andrey Ivankin, Mattiq announced a $15M seed financing round in 2022. Mattiq has quickly gained substantial market attention as it strives to profitably decarbonize the “hard-to-abate” chemicals industry, which accounts for approximately ten percent of global carbon emissions. Mattiq’s arrival brings a key emerging player in climate technology to Fulton Labs.
“Fulton Labs is the ideal space to continue our company’s growth and will support our efforts to profitably decarbonize the chemicals, fuels, and plastics that power our world,” said Jeff Erhardt, CEO of Mattiq. “Our new office will help us attract more industry-leading science and engineering talent, bringing more clean jobs to the area. More broadly, we are proud to continue our trajectory in our home city and help establish Chicago as hub for climate technology.”
Dan Lyne of CBRE represented TCC in the deal, while Max Zwolan and Scott Brandwein of JLL represented Mattiq. The company joins a roster of innovative tenants at 400 North Aberdeen, including Portal Innovations, the Chan-Zuckerberg BioHub, the Chicagoland Climate Investment Alliance, and Illinois Institute of Technology.
“With Mattiq, Chicago continues to emerge as a national deep science hub with world-class innovators choosing the Windy City as home,” added Zwolan. “In the past, these companies may have looked elsewhere to support their growth trajectory. But today, with Chicago’s burgeoning science and technology ecosystem, top notch talent pool and desirable leasing options like those at the Fulton Labs, these home-grown companies are doubling down on Chicago. Mattiq’s growth will continue the city’s momentum and help attract further innovation and growth across our life science and climate technology communities.”
TCC’s Fulton Labs campus – totaling 725,000 square feet across two world-class buildings – is part of the firm’s 1.2-million-square-foot life science portfolio in Chicagoland, which also includes the under-construction Evanston Labs (175,000 square feet) and Hyde Park Labs (302,000 square feet), both slated for delivery in 2024.
Trammell Crow Company
Trammell Crow Company (TCC) is a global commercial real estate developer and wholly-owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of December 31, 2023, TCC had $15.8 billion of projects in process and $13.3 billion in its pipeline. It employs 650 professionals in 26 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial/logistics, healthcare, life sciences and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.