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ynchrony Financial has entered the secondary office market in downtown Chicago by listing nearly 51,000 square feet for sublease across two floors at 222 West Adams Street. The space, available through July 2030, is located on floors 25 and 26 of The Franklin building owned by Tishman Speyer. Cushman & Wakefield's Jeff Samaras and Melissa Rubenstein are marketing the sublease.

    The move aligns with a trend of large companies reassessing their office needs in response to shifting workplace dynamics post-pandemic. Subleases have become increasingly popular among tenants, allowing them to avoid customized buildouts and secure rents below primary market rates. Recent examples include Chicago Title Insurance, Blue Owl Capital, Kin Insurance, and Willkie Farr & Gallagher.

    The downtown office sublease inventory has declined from 8 million square feet in September to 6.8 million, providing some relief for landlords. However, availability remains more than double the pre-pandemic level of 3.3 million square feet. Other notable companies have also listed Chicago office space for sublease, including Nielsen and Allianz.

    Synchrony's listing is one of at least 17 large downtown sublease spaces with lease expirations in 2030 or later. The company reported a 26% increase in third-quarter net earnings to $789 million.