Trunk Club leases 43,275 square feet at 325 W. Ohio St. for a showroom and headquarters. To accommodate its growth, the company has found space across the street at 320 W. Ohio St., where it has agreed to sublease the building's 17,000-square-foot fifth floor from Red Frog Events.
“Of all the markets for something along these lines to happen, knocking on your neighbor's door to see if they have any space, it's far more common in River North than in other submarkets,” said tenant broker Patrick Hewitt, a senior associate at Chicago-based Jones Lang LaSalle, who was not involved in the deal. “A lot of tenants in River North see the market as a neighborhood, where everyone knows each other.”
Red Frog was represented in the deal by Jason Schulz, CEO of Chicago-based brokerage J. Rich Co.
Red Frog, which puts on events such as road races and concerts, has 105 full-time employees in Chicago, twice the total from 2013, and plans to hire more, spokeswoman Lauren King said. But the firm needs less space because it has cut way back on the use of interns to staff events, she said.