CBRE ANNOUNCES 44,000 SQ. FT. LEASE AT HISTORIC OLD POST OFFICE IN CHICAGO
24 Aug 2021
Chicago, IL – August 24, 2021 – CBRE announced that Chicago-based cryptocurrency startup CoinFlip has signed a new 44,000-sq. ft. long-term lease at the Old Post Office in Chicago, Ill. The world’s leading cryptocurrency ATM operator and fastest-growing company in Chicago will move its headquarters to the historic building, located at 433 W Van Buren Street, in the fall of 2021.
“It was an honor to partner with Ben and his team on this incredible milestone for CoinFlip and a pivotal moment for their industry as they finalized the largest cryptocurrency lease in Chicago history,” said Tony Coglianese, a first vice president in CBRE’s Chicago office. “The significance of a home-grown leader in Crypto moving into a highly-visible redevelopment like the Old Post Office is a great indicator that Chicago is well positioned to become a hub for the next wave of cryptocurrency and blockchain companies of the future.”
“We’re thrilled to be opening our new headquarters at the Old Post Office and continue the CoinFlip story in our hometown of Chicago,” said Ben Weiss, CEO of CoinFlip. “We see this not only as a tremendous step for our company’s growth but as another symbol of crypto’s adoption in the city.”
This year, CoinFlip took the number one spot on Crain’s Chicago Business’ annual Fast 50 list, which tracks the fastest-growing startups in the Chicago area. The company achieved a massive 1,715,091.95% growth over the past five years and its revenue grew by over 500% in 2020, reaching $50.6 million. By moving to this new location, CoinFlip is more than doubling its current space and adding at least 75-100 jobs by the end of 2022.
Since its founding in 2015, CoinFlip has built a network of over 2,700 ATMs across 47 states that allow users to buy or sell bitcoin and nine other cryptocurrencies. By offering transactions in a familiar ATM format using cash, CoinFlip provides a simple user experience with award-winning 24/7 customer support to increase accessibility to cryptocurrency.
The CBRE team of Tony Coglianese and Brad Serot represented CoinFlip in the deal, while the owner was represented by Daniel Heckman, Matthew Whipple, Jamey Dix of Telos Group.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.