CHICAGO–(BUSINESS WIRE)–CIM Group and Golub & Company announced today the execution of a lease with Foxtrot, the corner store, café, and delivery market, for a 1,739-square-foot retail space at The Shops at Tribune Tower in Chicago, Illinois.
Launched in 2013, Foxtrot is redefining convenience for the modern consumer, marrying the best of neighborhood retail and e-commerce technology. Its stores offer an all-day café experience with culinary delights, plus a selection of grocery staples, sommelier-curated wine, and locally sourced goods all available to enjoy in-store and to order for convenient 5-minute pickup and 30-minute delivery powered by the Foxtrot App. The Chicago-based company currently has 15 locations including 10 stores in Chicago, three in Washington, D.C., and two in Dallas, Texas with plans for further expansion nationwide.
“We’re excited to bring our local corner store and café to such an important building and neighborhood in Chicago. The Tribune Tower’s rich history, iconic architecture and prime location paired with the recent renovations and new public plaza make this an exciting destination to be a part of. We look forward to welcoming everyone from Tower residents to locals who work nearby to tourists who are exploring the city for the first time,” said Mike LaVitola, Co-Founder and CEO, Foxtrot.
Located at 429 N. Michigan Avenue, Foxtrot at The Shops at Tribune Tower will be a multi-use space designed to create the experience of a neighborhood café that includes dedicated patio space fronting the 1.5-acre public park at Pioneer Court. The location will offer expanded grab-and-go offerings alongside an array of café items, thoughtfully curated snacks, and everyday essentials the brand has become known for. Opening for Foxtrot at The Shops at Tribune Tower is anticipated for spring 2022.
“Foxtrot is a community-serving retailer that brings a contemporary market to this high traffic location on the Magnificent Mile. It benefits everyone in the neighborhood including local residents, office workers, and visitors and is an ideal addition to our Shops at Tribune Tower,” said Shaul Kuba, Co-Founder and Principal, CIM Group.
Foxtrot’s location is directly adjacent to Museum of Ice Cream on the soon-to-be-completed Pioneer Court, apublic plaza that CIM Group and Golub & Company have reimagined as a more welcoming and activated landscaped community space in a park-like setting shared with Apple flagship store that draws throngs of visitors to its dramatic and creative space on the river. Pioneer Court creates a natural outdoor extension of The Shops at Tribune Tower, providing an expansive public area, event space, and view corridor that connects the city, its people, and the shops in a continuing evolution of the Magnificent Mile.
The Shops at Tribune Tower consists of 50,000 square feet of artfully-designed retail spaces that anchor the ground floor of the iconic 36-story, 740,000-square-foot Neo-Gothic Tribune Tower, located at 435 N. Michigan Avenue. The Tower has been transformed into 162 luxury residential condominiums, which has welcomed its first residents. The Shops at Tribune Tower expand the retail options and pedestrian engagement in this increasingly popular section of Michigan Avenue–-the Magnificent Mile.
Tribune Tower is a Chicago landmark originally built in 1925. Since acquiring the property in 2016, CIM Group and Golub & Company have maintained the historic integrity of the building while undertaking a repositioning that will add to the overall vibrancy and value of the area. Tribune Tower is ideally located in Chicago’s Magnificent Mile close to numerous public transportation lines, including CTA lines providing easy access to O’Hare and Midway International Airports.
In addition to Tribune Tower, CIM’s portfolio of Chicago properties includes 444 N. Michigan Ave., the 36-story, 517,000-square-foot Class A office building with 6,700 square feet of high street retail at the base on Magnificent Mile; Block 37, the 275,000-square-foot five-level retail center in Chicago’s Loop; mixed-use properties at 237 and 1643 N. Milwaukee Ave.; Paragon, an apartment development at 1326 S. State St.; and the 1550 On the Park residential condominium development.
About CIM Group
CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.
About Golub & Company
Since its founding in 1960, with three generations of professionals working in the business, Golub & Company has built a strong reputation as a trusted co-investor and developer with its many institutional and private capital partners. It’s a reputation based on track record; Golub and its affiliates have owned, leased or managed more than 50 million square feet of commercial, mixed-use and multifamily real estate properties, including 45,000 residential units, valued in excess of $10 billion located across the United States and internationally. Access more information by visiting www.golubandcompany.com.
Foxtrot is redefining convenience for the modern consumer, marrying the best of neighborhood retail and e-commerce technology to create a community of discovery. Its spaces offer the most-loved aspects of neighborhood cafés, and you can turn to the Foxtrot App or website for 30-minute delivery and 5-minute pick up of a city’s best goods – from local beers and fine wines to chef-prepared meals and everyday essentials. Foxtrot also offers the best of its favorite foods, goods and curated gifts available for nationwide shipping via Foxtrot Anywhere.
There are currently 15 Foxtrot locations across Chicago, D.C. and Dallas with plans to continue expansion in both existing and new markets. For more information, visit foxtrotco.com or download in the App Store.
Link: CIM Group and Golub & Company Bring Flagship Foxtrot Market to Chicago’s The Shops at Tribune Tower on the Magnificent Mile