TCC Signs 35K-SF Lease at Chicago’s Fulton Labs, Bringing 1375 W Fulton to 98% Leased
MonoSol Innovation and Technical Center will Open in 2024
December 7, 2023
The Chicago office of Trammell Crow Company (TCC), a global real estate developer, announced that it signed a 35,021-square-foot lease for MonoSol to locate a new innovation and technical center within its Fulton Labs campus in Chicago’s Fulton Market neighborhood. MonoSol, a sustainable material science company headquartered in Northwest Indiana, is a division of Tokyo-based Kuraray Group and is best known for its water-soluble, biodegradable films used to make laundry and dishwashing detergent packets for many of the world biggest household brands. When open in mid-2024, MonoSol’s innovation center will occupy the last full floor at 1375 West Fulton (1375). The deal brings the 300,000-square-foot life science building to approximately 98 percent leased.
“Chicago’s Fulton Market neighborhood continues to be recognized by innovative companies like MonoSol for its vibrant talent and cultural amenities, which are key growth and recruitment drivers for businesses in the science and technology industries,” said TCC’s Morgan Baer-Blaska. “Chicago has earned its reputation as a strategic home for business, investment and top talent, which has resulted in incredible leasing momentum at the world-class life science destinations, like Fulton Labs, that TCC has developed across the city.”
MonoSol will house its strategic innovation, research and design capabilities for its water-soluble film and material science technologies at 1375. The company follows in the footsteps of hundreds of other major corporations standing up operations in Chicago recently. According to CBRE research, Chicago was the #1 market in the U.S. for corporate relocations and expansion projects between 2021 and 2022, with 448 companies establishing or expanding operations in the city. Notably, the Chan Zuckerberg Initiative chose TCC’s Fulton Labs as part of its $1 billion CZ Biohub expansion this year, leasing 28,200 square feet of space at the Fulton Labs 400 North Aberdeen facility.
“The Fulton Labs campus offers MonoSol’s innovators and customers the advanced lab and collaboration space, modern amenities and accessibility we require to build on our track record of developing new materials that make everyday life safer, simpler and more sustainable,” said MonoSol’s President, Christian Hermanns. “The campus and surrounding neighborhood create the vibrant and creative atmosphere that mirrors our own passion, energy and forward-thinking spirit.”
Dan Lyne and Kelsey Scheive of CBRE represent TCC’s Fulton Labs at 1375. Andrew Urban and David Burden of Colliers represented MonoSol in lease negotiations.
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.
Additional Fulton Labs tenants at 1375 include Belay Diagnostics, Charles River Laboratories, Dimension Inx, Celadyne Technologies, Portal Innovations, Xeris Pharmaceuticals, Vanqua Bio, and Talis Biomedical.
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.