M
edline, a medical supply company based in Northfield, is significantly expanding its presence at Vornado Realty Trust's Merchandise Mart. The company will occupy nearly 161,000 square feet on the 12th floor of the building under a lease that runs through 2036. This new space more than triples Medline's current footprint, which spans around 51,000 square feet.
Medline has a large workforce with nearly 40,000 employees across its offices. The company was represented by J. Frank Franzese and Steven Bauer of Colliers in the leasing transaction, while Vornado was represented by Andrea Saewitz, Wendy Katz, and Ben Cleveland of Stream Realty.
The Merchandise Mart is a massive property that spans two city blocks and contains 4 million square feet of office and showroom space. Despite challenges in filling the building due to post-pandemic trends of office downsizing, it has been a busy year for the property with several high-profile subleases, departures, and newcomers.
Recent developments include IPG's deal to lease up to 80,000 square feet, Grubhub's 90,000-square-foot sublease, and Kin Insurance's 20,000-square-foot sublease. Vornado has invested $70 million in renovations to attract tenants and encourage current ones to renew or expand, adding amenities such as a tenant lounge, fitness center, and adjacent river park.
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Vornado Secures Major Lease Expansion in Chicago's Merchandise Mart Complex
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