Office N Illinois

Chicago draws in another suburban HQ relocation in Ferrara Candy

Chicago draws in another suburban HQ relocation in Ferrara Candy,ph1

Ferrara Candy reportedly intends to move its headquarters from Oakbrook Terrace, Illinois to 625 W. Adams Street in Chicago’s West Loop. According to a story broken by Crain’s, the confectioner will take approximately 60,000 square feet in the new office tower, becoming the building’s first tenant.

This is a homecoming as the candy company—known for brands like Lemonhead and Red Hots—was formed in Chicago’s Little Italy 110 years ago. The company was bought by the similarly named but unrelated Italian firm, Ferrero Group, in December 2017. In March of this year, Ferrero also purchased the US candy-making division of Nestle.

Developed by CA Ventures and White Oak Realty, the 20-story 625 W. Adams features 438,184 square feet of office space. Amenities in the building include a Wi-Fi-enabled entertainment lounge, a cafe and wine bar, two office suites with their own private, outdoor terraces, a wellness center, a ground/mezzanine-level conference center and auditorium for corporate events and seminars. A separate conference and training center on the building’s seventh floor is also be available to tenants.

The building was designed by Martin Wolf, FAIA, of Solomon Cordwell Buenz and Associates. USAA Real Estate Company was a joint venture on the project and Power Construction acted as general contractor. Newmark Knight Frank has been engaged as the office leasing agent for the building and Vanderbilt Office Properties will be the property manager.

"As one of the largest confections companies in the U.S., our business continues to grow, and we need a more adaptive and flexible workspace that will meet the demands of our growing team," Ferrara chief human resources officer Mike Goldwasser said in the statement. "Relocating to the city of Chicago allows us to build a more open, collaborative and dynamic environment that a modern workforce expects, while providing access and appeal to a broader employee demographic."

Ferrara employs around 2,000 in Illinois, though the Oakbrook Terrace headquarters contains only about 300. This is the latest in a string of corporate migrations from the suburbs to Chicago’s CBD, including most recently McDonald's, Peapod and Wilson Sporting Goods.