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Trammell Crow signs tenant at Fulton Market tech incubator

Trammell Crow signs tenant at Fulton Market tech incubator,ph1

Trammell Crow Company (TCC) has completed a deal with P33—an organization dedicated to transforming Chicago into a top-tier inclusive tech hub—as the first tenant at 1234 West Fulton Market. Occupying roughly half of the building, P33 will move into the 5,549-square-foot office space in January, signifying its official launch in Chicago.

Sara Spicklemire of CBRE represented TCC in the lease, while P33 was represented by Dan Lyne, Kyle Kamin and Matt Groppenbacher, also of CBRE. TCC acquired the 12,563-square-foot property in November 2019 and is in the process of renovating the vacant building, transforming it into a modern office space with a goal of acting as an incubator for growth-stage companies in Chicago.

“Our vision for 1234 West Fulton is for the building to act as an incubator for growth-stage companies—a modern office space where firms can grow their operations,” said Johnny Carlson, a principal in TCC’s Midwest business unit. “We are strong supporters of further developing Chicago as a tech hub, particularly this area of the city, and look forward to supporting P33 in this mission.”

Renovations include exposing the bow truss ceiling, the original brick walls and the concrete floors, offering tenants a turn-key space for immediate occupancy, including new furniture. The building is situated just north of West End on Fulton, TCC’s speculative office development that will rise 14 stories and is slated for completion in the spring of 2020. The properties are part of a broader plan to reimagine the Fulton Market neighborhood as a Midwest tech hub, meeting the demand of the city’s growing companies.

“Our new space at 1234 West Fulton Market provides us with a unique opportunity to foster greater collaboration across Chicago’s tech ecosystem,” said Erin Amico, chief marketing officer of P33. “The transformation that’s taken place in the Fulton Market District is inspiring to us. One of Chicago’s most iconic and historic districts is now home to some of the most innovative companies. We look forward to moving into our new address and sharing more about our vision for the space later in the year.”