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The significant leasing activity comes amid an ongoing capital campaign at the two-building 600,000-square-foot office complex at 201/301 Route 17 North in Rutherford.
Since 2010, Amazon has invested more than $4.4 billion in the State of Illinois, including building customer fulfillment and cloud infrastructure, research facilities and compensation to employees.
Avison Young notes that the top industrial markets expected to continue to perform well into 2020 will be: California's Inland Empire, Dallas, New Jersey/New York City, Seattle, Chicago, and Miami, among others.
A hub of international business activity, Chicago is home to more than 1,800 foreign-based companies, accounting for more than $140 billion in foreign direct investment.
The less than one-acre site at 6747 Collins Ave. was the last undeveloped beachfront lot in North Beach, located between the Deauville Beach Resort and Sterling Condominium buildings.
The Wells-Wentworth Connector is part of the first phase of development at The 78, which is bordered by Roosevelt Road, Clark Street, 15th Street and the Chicago River. The 78 could at full build-out include a total of 13 million square feet of mixed-use space.
The company states that it signed a 10-year lease for its new headquarters space at the 2.5-million-square-foot complex and will invest more than $200 million annually in the region through headcount, real estate investment and other expenses
The Southern Park Mall, which is adjacent to DeBartolo Commons, is also undergoing some improvements that will include a new entertainment hub that will feature a 37,000-square-foot indoor golf entertainment center, additional entertainment uses and new food and beverage offerings.