Primark, a trend retailer based mostly in Dublin, is taking on the previous Gap retailer at 35 N. State St., throughout the road from Macy’s.
The lease of 45,000 sq. toes is the biggest alongside State Street since 2014, stated the Georgetown Co., which owns the three-story constructing. Georgetown stated the constructing will get a top-to-bottom reworking, however it declined to say when Primark will open.
A supply described the retailer’s lease as long run however may add no particulars. Primark couldn’t be reached.
It could be Primark’s first location within the Midwest. It has 9 shops within the Northeast and opened its first U.S. location in 2015.
Known as a “fast fashion” retailer that tries to adapt rapidly to altering types, Primark has about 360 shops throughout Europe. “We are fortunate to have found and secured such an impressive location in the heart of the vibrant Chicago market,” its property director, Tom Meager, stated in a information launch.
The State Street constructing, on the southeast nook of State and Washington, has ceaselessly been talked about as a candidate for substitute by a high-rise. Georgetown paid $23 million for it in 2011.
“As one of the fastest growing retailers in the United States, Primark is a perfect fit for the building and will be a welcome addition to a popular list of neighboring businesses in the Loop,” stated Georgetown CEO Adam Flatto.
The New York-based firm owns the K2 condo tower and different retail area in Chicago.
Mid-America Real Estate Group represented Georgetown and CBRE Group represented Primark within the lease negotiations.