Vivid Seats moves to Marshall Field building

“The Toronto-based firm converting the upper floors of the landmark Marshall Field building on State Street into offices is close to landing its first tenant there.

Online secondary ticket marketplace Vivid Seats is in advanced talks to lease around 110,000 square feet at the historic Loop property, according to sources familiar with negotiations.

The Chicago-based company has been in the market for office space in recent months as it outgrows its home at 111 N. Canal St. and has narrowed its focus to the floors atop the Macy’s flagship store if it can’t find a way to expand in its current building, sources said. Vivid Seats leases about 60,000 square feet at the Canal Street property today and subleases roughly 27,000 square feet at 225 W. Randolph St.

Real estate giant Brookfield Properties paid $30 million last year for the top six floors of the Marshall Field building, which it is turning into 650,000 square feet of offices set to be completed in June. Finalizing a deal with Vivid Seats would help validate those floors at 24 E. Washington St. as a destination for users looking for a big office in the Central Loop.

Bolstered by a recent run of fast-growing tech companies leasing space in revamped vintage Loop office buildings, Brookfield is betting it can draw companies to the top of the historic retail property with large floor plates that are popular among tenants but hard to find in older Loop properties.

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