Baker Tilly has leased about 32,000 square feet in an office tower in Chicago’s Fulton Market, where the company plans to move its U.S. headquarters from a larger space it now occupies on the eastern edge of the Loop business district.
The advisory and accounting firm completed a deal to move into the 19-story tower at 800 W. Fulton St., cutting about 20,000 square feet from its current space at 205 N. Michigan Ave., according to people familiar with the situation.
The deal fills the final remaining space in the 480,490-square-foot tower along Fulton and Halsted streets that New York-based Thor Equities had under construction when COVID-19 arrived in early 2020.
The tower was completed in 2021. Tenants include dental and healthcare management provider Aspen Group, Snapchat parent Snap Inc. and a technology office for tractor maker Deere & Co.
During a recent shakeup of office tenants in Fulton Market, Chinese furniture maker Sunon struck a sublease agreement for about 13,000 square feet at 800 W. Fulton from revenue cycle management company R1 RCM, which is moving to a larger space in a nearby tower.
Thor Equities did not respond to a request for comment on the Baker Tilly deal.
In a statement emailed to CoStar News, a Baker Tilly spokesperson neither confirmed nor denied plans to move west of the Loop.
“As part of our long-term real estate strategy, we’re continually evaluating how our office spaces support the evolving needs of our people and clients,” the email said. “We don’t have anything to share publicly at this time.”
Baker Tilly’s planned move to Fulton Market, earlier reported by Crain’s Chicago Business, comes after the firm and Seattle-based Moss Adams announced a merger agreement in April. Baker Tilly is based in London, with the Chicago office serving as its U.S. headquarters.
The firm now leases 51,585 square feet at 205 N. Michigan, according to CoStar data.
Baker Tilly’s planned arrival continues a trend of professional services firms signing deals, after previous years of expansion were driven by tech tenants such as Google, food companies including the global headquarters of McDonald’s and Mondelez International, and other business sectors.
Those companies helped Fulton Market emerge in recent years as the fastest-growing urban office market in the country.
Financial services firms that have signed deals more recently include Boston Consulting Group and law firm Greenberg Traurig, both tenants in developer Sterling Bay’s new tower at 360 N. Green St.
For the record
The landlord was represented by Stream Realty Partners brokers Jack McKinney Jr., Ben Cleveland and Mark Baby. The tenant was represented by CBRE broker Geoff Euston.