Going Urban: Corporations Move Downtown To Appeal To Millennials
Though often chastised for their unorthodox work habits and incessant use of social media, Millennials are a driving force in most industries. Such is the case with commercial real estate.
Developers, investors and major corporations have noted this trend, and are moving to urban neighborhoods to appeal to the younger demographic.
McDonald’s relocating its HQ from the suburbs to downtown Chicago is a perfect example. The global fast-food chain, based in Oak Brook, IL, for 45 years, signed a lease this month for a planned 600k SF building developed by Sterling Bay, National Real Estate Investor reports.
This HQ will be built in the up-and-coming Fulton Market neighborhood on the west side, along with Google and Glassdoor. [NREI]