CHICAGO–The Merchandise Mart announced that it has successfully finalized lease agreements to relocate 21 tenants to the casual industry’s new dedicated location on floors 15 and 16 of The Design Center at The Merchandise Mart.
All tenants on the 17th floor have been re-leased with new showrooms on the 15th floor beginning October 2012. Twelve tenants have elected to expand their new showroom spaces and some have opted to extend their lease through 2020.
“We’re happy to have the support of our casual furnishings tenants to carry out our vision for one, united destination in the Mart for the finest outdoor/casual products in the world,” said John H. Brennen III, executive vice president, MMPI. “Our goal is to better serve our buyers and designers and provide them with the best shopping experience for casual furnishings and accessories.”
MMPI is working with award winning designer Gary Lee on the new casual industry destination floors. By the end of 2012, tenants and visitors to the Mart can expect to see newly appointed hallways and amenities that are part of the approximately $30 million investment MMPI is making into the Casual, Design Center and Gift industries.
MMPI is also working with tenants on the relocation and construction of their new spaces. Visitors can expect to see exciting showroom build-outs from the industry’s top manufacturers. Together, these best-in-class showrooms represent some 75 product lines.
The floor changes will not affect the 2012 July ICFA Preview Show, or the 2012 September Market. It is estimated that the construction of the casual/outdoor furnishing floors will be completed by October 2012.