6/10/2023 0 Comments Chicago hits 320![]() ![]() ![]() A Valor Equity Partners spokesman did not respond to a request for comment. Now the duo has nearly filled the building while downtown office vacancy hovers at an all-time high, having inked previous deals with Tock, agricultural tech firm Hazel Technologies and real estate tech company VTS, among others.Ī Tishman Speyer spokeswoman declined to comment when asked about the Valor Equity Partners lease but confirmed the building is 87% leased today. ![]() Valor's deal is a win for a joint venture of New York-based Tishman Speyer and Chicago developer Mark Goodman, which completed the Sangamon Street property without any tenants signed in the midst of a public health crisis that has pummeled demand for workspace. The firm also adds to the list of defections from the Magnificent Mile, which has lost major retail tenants during the COVID-19 pandemic but also become less popular in recent years as a destination for traditional office users. Valor, which is best known for its early backing of Elon Musk ventures Tesla and SpaceX and has more recently invested in fast-growing Chicago companies including Fooda, Cameo and Tock, joins the party of companies moving offices to Fulton Market as the gritty-turned-trendy corridor becomes a hotbed of upscale restaurants and hotels, major corporate offices and, more recently, apartment buildings.
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