Google backing off plans to open a permanent two-story flagship retail store in the Fulton-Randolph Market District has caused quite a buzz within the industry. According to sources, the 14,000-square-foot property on W. Randolph St. is being marketed to potential clients by real estate firm Newcastle.
The property is just a few blocks away from Google’s Chicago offices. After the deal fell through, it could lure businesses looking to rent the space within the district, reports suggest. That said, the property rates for Newcastle’s space at Randolph is expected to rise because of nearby restaurants, including the Soho House.
Google was in the last stage of negotiations. However, the reason for its change in plan is unknown. Last year, the company confirmed that the space will be used to train clients using Google cloud services.
In 2016, Newcastle acquired the Randolph Street building previously owned by businesswoman Sue Gin, founder of Flying Food Group.