CHICAGO, February 3, 2022 – SPINS, an advocate and leading data provider for the health and wellness industry for the past two decades, has leased 47,883 square feet at North Wells Capital’s new development at 311 W. Huron Street, which is the second installment of its three-tiered transformative office community coined Verso.
SPINS will serve as the office building’s anchor tenant, and North Wells will commence construction of the building in April of this year. SPINS will relocate its headquarters to 311 W. Huron in late 2023 upon delivery of the 15-story 153,611-square-foot Class A office building. As the building’s first tenant, SPINS attains building-top signage and an option allowing SPINS to expand and grow within the building. 311 W. Huron’s fitness center will include SPINS branding as well. With the move, the firm will retain its presence and more than 400 U.S.-based employees in River North.
311 W. Huron is part of Verso, a three-phase development in River North – Chicago’s original creative office submarket and thriving downtown neighborhood. Verso’s other buildings are recently completed 306 W. Erie and proposed 320 W. Huron.
“SPINS is experiencing tremendous growth as an increasingly large number of consumers embrace their wellness journey,” said Tony Olson, CEO of SPINS. “Our growth led us to search for a larger HQ space that we could design to enhance our collaborative culture in a hybrid work environment. After assessing options around the city and listening to our team, we made the decision to remain in River North – which is known for housing dynamic companies and having innovative food and services that support our team – and began the search to find a space that would allow current and future employees to not only be successful in their own wellness journey, but in their professional positions as well. 311 W. Huron is that space and we are excited to break ground soon and move in as soon as possible.”
Added Tony Lindsay, Principal at North Wells Capital, “As a landlord in River North for the past 40 years, our greatest compliment is retaining our trusted and valued tenants. We take great pride in the fact that SPINS has elected to continue our relationship as a trusted partner and lease office space at 311 West Huron. This is a true validation of our vision for this building and River North as a centerpiece of innovation in office, retail and residential development. River North remains Chicago’s premier live-work-play environment, allowing employers to attract and retain the best talent this great city has to offer.”
Cushman & Wakefield’s Jeffrey Skender, Ari Klein, Scott Shelbourne and Marcus Berglund represented SPINS, while JLL’s Melissa Rubenstein, Annie Nicolau and Anna Panici represented ownership.
Cushman & Wakefield has represented SPINS over the past five years, assisting the high-growth company in its short-term expansion strategies in and around its current base at 222 W. Hubbard, which is also owned by North Wells Capital.
“After an exhaustive search of the market and its numerous options, 311 W. Huron proved to be the right, strategic location for SPINS’s new headquarters,” Skender said. “Ultimately, the location in River North and its surrounding amenities, quality attributes of 311 W. Huron and strong relationship with North Wells created an ideal catalyst for SPINS’s future growth.”
In addition to 311 W. Huron’s fitness facilities, other building amenities include a conference facility with abundant natural light, a panoramic penthouse roof deck, a tenant lounge, a hospitality-focused lobby, and collaborative breakout spaces, exclusive outdoor terraces on alternating floors, bike parking, electric-vehicle charging stations and 130 indoor parking spaces.
SPINS LLC is a leading wellness-focused data company and advocate for the Natural Products Industry. Over the past two decades, the wide adoption of SPINS' Product Intelligence has led to a common language used across the industry as well as laid the foundation for the next generation of innovation, while providing dynamic data, actionable insights, and digital activation solutions that drive growth for our clients & partners and contribute to a healthier and more vibrant America. Learn more at www.spins.com.
About North Wells Capital
North Wells Capital, LLC (“North Wells”) is a private equity commercial real estate investment company based in Chicago. North Wells focuses on maximizing value through strategic acquisitions and hands-on asset management to deliver attractive and sustainable risk-adjusted returns. We seek to capitalize on overlooked opportunities and complexities in geographic markets where we can leverage our local knowledge and extensive operating history. Our real estate platform is vertically integrated through our property management, leasing, and construction services affiliate, Urban Innovations, Ltd. Visit www.northwells.com for more information.