November 15, 2018
Chicago – Transwestern today announces Puratos, a Belgium-based international food science company with offices in 70 countries, has signed a 6,668-square-foot lease at Mural Park, 1901 – 1911 S. Sangamon St. in Chicago’s Pilsen neighborhood. The space will operate as an innovation center to expand Puratos’ U.S. footprint and service the company’s Midwest clients. Jeff Dowdell, Katie Steele and William Briggs of Transwestern represented the landlord, Condor Partners, in the transaction.
“This location offered Puratos a perfect mix of affordable rents, dynamic space and proximity to the central business district,” said Dowdell. “The transaction, coupled with Five Rabbit Ceverceria’s recent lease, brings our first building, 1901 S. Sangamon, to 18 percent preleased. This is ahead of schedule and precedes the completion of approximately $8 million of base building work, underscoring the redevelopment’s popularity.”
Mural Park is a 200,000-square-foot creative office loft project situated in historic Pilsen, a submarket recently named one of “The 12 Coolest Neighborhoods Around the World” by Anna Abel on Forbes.com. The redevelopment is transforming two existing industrial buildings from the early 1900s into Class A brick and timber loft office buildings designed for today’s modern tenants. The project is in the process of securing a grant to help finance the creation of an outdoor public park, providing tenants and the community open green space, public art, flexible furnishings and innovative technology that will cater to numerous community-oriented programs throughout the year.
“We are very excited to have Puratos join us at Mural Park,” said Michael McLean, Partner at Condor Partners. “Pilsen exudes an authentic culture and committed community, and to have attracted such a creative international company away from more conventional Chicago submarkets is a wonderful affirmation of our plan.”
Mural Park is conveniently located just eight minutes south of the Central Business District and has direct access to Interstates 90/94, 290, and 55, with CTA and Metra rail stations nearby. The project will be a primary destination along the City of Chicago’s new “El Paseo,” a 4-mile bicycle and walking “rails-to-trails” corridor connecting University Village with Pilsen and Little Village.
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Asset Services, Occupier Solutions, Capital Markets and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Transwestern has 35 U.S. offices and assists clients from more than 221 offices in 37 countries through strategic alliances with France-based BNP Paribas Real Estate and Canada-based Devencore. Experience Extraordinary at transwestern.com and @Transwestern.