Suburb-to-City Migration Here to Stay

CHICAGO—As reported in Crain’s, ConAgra is expected to leave its space in Naperville and lease 200,000 square feet in the Merchandise Mart, and become the latest major corporation to make the decision to migrate from the suburbs to the CBD. And as the downtown prepares for the opening of several new office towers beginning in late 2016, leasing experts say that the trend will probably accelerate.

“These companies are all looking to attract the young workers who have no intention of moving to Lisle,” Eric Myers, a principal with Avison Young, tells GlobeSt.com. He specializes in landlord representation and was not involved in the ConAgra transaction. “And they are not doing this to keep up with the Jones’; for many of them moving downtown has become a necessity.”