To meet strong flexible work and meeting space demand in the Chicago market, Convene plans second Chicago location.
NEW YORK – June 25, 2018 – Convene, the nation’s fastest growing flexible workplace and on-demand meeting services provider, will nearly double its footprint in the Chicago central business district with the opening of its second metro location at 16 West Adams Street (formerly 131 Dearborn), also known as the Citadel Center. The 50,000-square-foot, 15-year lease spans across the tower’s ground and second floors. Convene will manage full-service, tech-enabled meeting and event spaces that can accommodate up to 450 people.
“We’ve seen incredible demand from the Chicago market for both our state-of-the-art, tech-driven meeting and event spaces and our office building amenity platform,” said Ryan Simonetti, CEO and Co-Founder of Convene. “For building owners like Angelo Gordon, Hines, Equity Office, and other top property owners who are repositioning their assets to be more responsive to modern tenant needs, Convene’s purpose-built meeting spaces and tenant services provide tremendous value. We’re thrilled to be working with Angelo Gordon and Hines to amplify the tenant experience at the Citadel Center and provide modern meeting and event spaces to both tenants and the surrounding business community.”
Citadel Center, owned by a partnership of Angelo Gordon, Hines and Dearborn Capital, is currently undergoing a $100 million upgrade, including the addition of a roof deck, a 10,000-square-foot fitness center, lobby renovation and tenant building lounge. Renovations are expected to be completed by the end of 2018 and Convene’s 50,000 square foot space is anticipated to open in Q1 2019. The Citadel Center lease comes on the heels of Convene’s previously announced 55,000-square-foot lease at Equity Office’s soon-to-be redeveloped Willis Tower, which is expected to open in 2020. Convene will offer contemporary meeting and collaboration spaces along with a dedicated meeting planning team, an on-site culinary team that prepares seasonal menus, robust technology infrastructure, and unlimited access to snack and refreshment stations at Willis Tower.
“We aim to make Citadel Center one of the most highly amenitized buildings in Chicago and we are excited to have Convene become part of the Citadel Center community,” says Scott Glassberg, Vice President of Angelo Gordon. “We are committed to creating active communal environments at our buildings to create a better tenant experience, and we believe Convene will play a big role in helping us to foster this at Citadel Center.”
A JLL brokerage team of Craig Coupe, Senior Vice President, and Matt Carolan, Executive Managing Director, represented Convene in the transaction. The Citadel Center partnership was represented by the team of Danny Jacobson, Meredith Oliver and Luke Malloy of CBRE.
“As we continue to partner with Convene on their Chicago expansion, we knew we wanted to identify a second location that once again provided a dense urban environment with great accessibility throughout the Loop,” said Craig Coupe, Senior Vice President at JLL. “16 West Adams Street not only offered an unrivaled location but the timing could not be better as Convene will be on the ground floor of the exciting and impressive renovations that are happening at this prestigious office building.”
Citadel Center is located in the heart of Chicago’s Loop, easily accessible to all seven CTA El lines and densely served by CTA bus service along Dearborn, State Street and Michigan Avenue. Nearby attractions include The Art Institute of Chicago, Millennium and Grant Parks and the heavily trafficked State Street retail corridor.
Convene (www.convene.com) is a workplace hospitality platform focused on transforming the way people meet and work. The company partners with the world’s largest landlords to humanize the workplace experience by offering enterprise companies and building tenants access to a shared network of premium meeting and event spaces, flexible workspaces, and hospitality amenities – all enabled by a mobile technology platform. Founded in 2009, Convene has locations in New York City, Boston, Philadelphia, Washington, D.C., and Los Angeles, with plans to expand globally. The company has been named one of America’s 100 Most Promising Companies by Forbes, one of LinkedIn’s Most In-Demand Startups, one of America’s fastest growing companies by Inc. Magazine, and the #11 Best Workplace in New York by Fortune Magazine.
About Angelo Gordon
Angelo, Gordon & Co., L.P. is a privately held limited partnership founded in November 1988. The firm currently manages approximately $28 billion with a primary focus on credit and real estate strategies. Angelo Gordon has over 450 employees, including over 170 investment professionals, and is headquartered in New York, with associated offices elsewhere in the U.S., Europe and Asia. For more information, visit www.angelogordon.com.
Jenna Wollemann, Convene