Convene Doubles Chicago Footprint With New Sterling Bay Deal
Convene signed two leases totaling 185K SF with developer Sterling Bay, and will manage the amenities and meeting spaces at 333 North Green St. in Fulton Market and 311 West Monroe St. in the West Loop, Convene officials said Wednesday.
The leases are the New York-based company's third and fourth locations in Chicago. It now has a total footprint of 325K SF, including a 91K amenity space in EQ Office’s Willis Tower that will open next year, part of that property’s $500M makeover. Its 50K SF space in Angelo Gordon’s Citadel Center will open at the end of this month.
“Given the brand’s dedication to delivering only the best when it comes to curated office experiences, our team is confident that Convene will quickly become a valuable amenity to Chicago’s expanding downtown business community,” Sterling Bay Managing Principal Andy Gloor said.
Convene will occupy half of the sixth floor and the full seventh and eighth floors of the Green Street property, currently under construction, and the ground floor through the fourth in the Monroe building, an older asset Sterling Bay purchased and began renovating in 2017.
The Convene spaces will include cafés, bars, meeting and event spaces, and work and common spaces, which will be open to Convene members, building tenants and local businesses.
Convene was founded in 2009, and spent the intervening years establishing operations in major U.S. office markets like New York, Los Angeles, Washington, D.C., and Boston.
The company is now also expanding overseas, buoyed by a $152M Series D round of financing last summer, which included investments from real estate and technology firms such as Revolution Growth, RXR Realty, ArrowMark Partners, Brookfield and The Durst Organization.