Motorola Solutions Moving to 500 W Monroe
The exodus of companies shifting corporate HQs from the suburbs to downtown Chicago continues. Motorola Solutions is moving next summer from Schaumburg to 500 W Monroe, where it will occupy 150k SF over six floors. The move is a return to the city where Motorola was founded in 1928.
Motorola's move is a huge win for 500 W Monroe's owner, Piedmont Office Realty Trust. The most recent MB Real Estate Index on downtown office vacancy rates indicated the top nine floors (231k SF) of the building were vacant. Motorola's new HQ will house 800 employees.
Other companies making the move from the 'burbs to the CBD include Kraft Heinz, which is moving its HQ to AON Center; ConAgra Foods is moving into 200k SF at Merchandise Mart; and Hillshire Brands moved to the West Loop three years ago. [Trib]