The hottest downtown asset for tech companies is far and away Merchandise Mart. Allstate Insurance announced it's leasing 45k SF at the Mart to establish a tech hub that will employ around 400 people.
Allstate's offices will be on the eighth floor and will house the company's quantitative research and analytics unit, as well as associated car teams. Allstate CEO Tom Wilson says the move will allow the company to remain at the forefront of innovation in the insurance marketplace by providing cutting-edge products and services for consumers.
Allstate continues an ongoing exodus of companies to Merchandise Mart. ConAgra is moving to downtown from Omaha. Liquor giant Beam Suntory is subleasing 110k SF from Motorola Mobility, and software company Velocity EHS is subleasing another 90k SF from Motorola Mobility.
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