TCC Signs Two Expansions, One HQ Lease at Fulton Labs in Chicago

Leading commercial real estate developer Trammell Crow Company (TCC) has signed three leases at 400 North Aberdeen within its Fulton Park Campus in Chicago’s Fulton Market neighborhood. The leases total approximately 40,000 square feet and include extensions and expansions from Portal Innovations and Chan Zuckerberg Biohub Chicago (CZ Biohub Chicago) and a headquarters relocation for P33 Chicago (P33). All three tenants are expected to occupy their new spaces by the summer of 2025.

“This announcement is a strong indicator of the current strength and momentum of Chicago’s science and innovation ecosystem,” said Johnny Carlson, Principal with TCC Midwest. “Portal Innovations, CZ Biohub Chicago, and P33 are all major players within the Chicago market, fueling innovation from early-stage startups to academic institutions. These firms chose TCC’s Fulton Labs campus because it will provide them the best opportunity to expand in place, attract and retain top-level talent, and collaborate with other leading organizations in their field. We thank each of them for their continued trust and support.”

Portal Innovations Grows Footprint

Portal Innovations is Chicago’s preeminent venture development platform that invests financial, physical and human capital to fuel life sciences breakthroughs. The company has extended its existing lease of 40,000 sq. ft. and grown its footprint to 53,000 sq. ft. at 400 North Aberdeen, expanding to the 10th floor. The company’s expansion at its flagship location will help accommodate its growing portfolio, which has now grown to over 50 companies. In addition to its location at Fulton Labs, Portal also operates labs in Atlanta, Boston, and Houston. It is also opening a new lab in partnership with the University of Chicago in Hyde Park Labs.

“Since launching Portal Innovations in 2020, we’ve been able to help facilitate incredible momentum in Chicago’s life sciences ecosystem. To date, we have more than 50 startups working at Portal, and the teams at Fulton Labs and TCC have been exceedingly accommodating to our rapid growth,” said John Flavin, CEO and Founder. “We’re looking forward to consolidating and expanding our footprint at 400 N. Aberdeen where more than 200 employees of our Portal team and member companies will work on three floors to continually advance breakthroughs in biotech and medtech.”

CZ Biohub Chicago Expands

CZ Biohub Chicago is a biomedical research institute led by Shana Kelley, Ph.D and launched by Priscilla Chan and Mark Zuckerberg's Chan Zuckerberg Initiative. Opened in 2024, the organization has extended its existing lease of 28,000 sq. ft. and expanded at Fulton Labs to 41,000 sq. ft. following major research milestones related to measuring inflammation with novel sensors that could enable breakthroughs in many diseases. Its expansion will help support this significant development and other major research initiatives. Outside of Chicago, CZ Biohub’s network also operates labs in San Francisco and New York.

“We’ve continued to execute and scale on our mission at CZ Biohub Chicago. Recruiting world-class talent in a vibrant and sophisticated location is core to that success. Along with our innovative partners, we’re excited about what’s to follow from our home base here in Fulton Labs,” said Shana Kelley, president of CZ Biohub Chicago.

P33 Relocates HQ Within Fulton Labs Campus

P33 is a nonprofit founded in 2019 focused on transforming Chicago—and all of Illinois—into a global technology and innovation hub driving economic growth for all. Its focus areas are quantum technology, the Compute-Energy Nexus, and growth for all. The organization is relocating its headquarters to 400 N. Aberdeen with a 4,300 sq. ft. lease on the 10th floor. P33 was previously based at 1234 W. Fulton, a TCC-owned building within its Fulton Park Campus.

"We're excited to step into our new office space at Fulton Labs, where we will continue to be immersed in Chicago's vibrant and collaborative community of technical innovators,” said Nuwan Samaraweera, P33's Chief Operating Officer and EVP of Talent Solutions. "We look forward to creating a dynamic workspace for our team that will foster creativity and strengthen connections in the heart of Chicago’s science and technology community."

CBRE represented TCC in each transaction. Dan Lyne represented Portal Innovations, and Kyle Kamin represented P33. Other innovative tenants that call 400 North Aberdeen home include Mattiq, Rhaeos, the Chicagoland Climate Investment Alliance, and the Illinois Institute of Technology.

TCC’s Fulton Labs at 400 North Aberdeen is part of the firm’s 2 million-sq.-ft.-plus Fulton Park campus that serves as a versatile hub for cutting-edge enterprise in Chicago with trophy office space, purpose-built properties for advanced sciences, a luxury multifamily development, market-transforming amenities, and the first and only public park in Fulton Market. The development is also part of TCC’s broader 1.2 million-sq.-ft. life science portfolio in Chicagoland, which includes the recently delivered Evanston Labs (175,000 sq. ft.) and Hyde Park Labs (302,000 sq. ft.).