Medline expands lease to triple space at Merchandise Mart

Medline Industries is significantly expanding its office space at Merchandise Mart in downtown Chicago, nearly tripling its footprint to 161,000 square feet on the building’s 12th floor. The company signed a long-term lease extending through 2036.

The healthcare products giant, which currently occupies 51,000 square feet, will now become one of the largest tenants in the historic building. This move comes after Grubhub committed to a 90,000-square-foot lease at The Mart earlier this year, marking the largest lease deal in Chicago's office market during the second quarter, as reported by Savills.

The Merchandise Mart has been a downtown Chicago icon since the 1930s, recently rebranded as The Mart, and has just finished a significant $70 million renovation project. The modernized facility now features a 27,000-square-foot amenity space, a new conference center, a second 23,500-square-foot gym, and a lounge, making it an attractive location for expanding companies.

Prime location and amenities

Glen Weiss, Vornado Realty Trust's executive vice president and co-head of real estate, highlighted that The Mart’s prime location and extensive amenities played a crucial role in attracting Medline. 

Medline's global operations include over 39,000 employees serving over 100 countries. Kate Slattery, Medline’s vice president of real estate and construction, voiced her enthusiasm for the expansion: "We are thrilled with the results from our current offices in The Mart and are pleased to be expanding this partnership further."

The leasing deal was orchestrated with assistance from J. Frank Franzese and Steven Bauer of Colliers, representing Medline, and Andrea Saewitz, Wendy Katz, and Ben Cleveland of Stream Realty representing Vornado.