Uber lists more Old Post Office space for sublease

Uber is giving up more office space, adding to Chicago’s record-high sublease inventory with a slot in the 601W-owned Old Post Office redevelopment.

The ride-sharing giant has hired CBRE to find a tenant to take over 50,300 square feet of the space it occupies 2.2 million-square-foot building at 433 West Van Buren Street, CoStar News reported. Brokers Paul Reaumond and Ian Murphy are representing Uber in the search.

Its space on the eighth floor of the building is already available and the lease runs through June 2030.

Despite the record amount of sublease options in the city, Uber’s listing will provide prospective tenants with a rare opportunity to move into a building that’s only 2 percent vacant after New York-based landlord 601W spent $1.3 billion redeveloping the property.

The sublease listing follows Paris-based advertising company Publicis Groupe listing 350,000 square feet of the office space it leases across 14 floors in the 50-story Leo Burnett building at 35 West Wacker Drive for sublease, in the largest Chicago sublease listing of the pandemic.

In addition, Tyson Foods put the entire 233,000-square-foot building it occupies at 400 South Jefferson Street on the sublease market and Kellogg listed its 39,000-square-foot office building in River North.

Chicago has more than 99 million square feet of office space available, including what’s on the sublease market. Available space accounts for more than 19 percent of the city’s total office space.

Uber became the largest tenant in the Old Post Office building when it leased 463,000 square feet in 2019. The San Francisco-based company then unloaded 98,000 square feet in 2021, when leasing manager Telos Group struck a deal for 601W to take back the space to issue a new direct lease to healthcare company Vizient.

Trueblue staffing and recruiting agency also listed its space in the Old Post Office building for sublease in the fall last year. The Tacoma, Washington-based company is trying to unload almost 83,000 square feet.

 — Victoria Pruitt