Merchandise Mart Strengthens Casual Segment
CHICAGO-The Merchandise Mart announced that it has re-signed more than 20 casual furniture showrooms, which will relocate to floors 15 and 16 within the building's Design Center.
The relocation will begin following the 2012 International Casual Furniture & Accessories Market, Sept. 20-23. The moves and renovation are expected to be completed before the end of the year.
This relocation will create an easier shopping experience for buyers at the annual International Casual Furniture & Accessories Market, and the designers that shop the Merchandise Mart Design Center on a daily basis, MMPI said. In addition to the showroom relocations, seven tenants extended their current lease agreements beyond 2017.
"MMPI's parent company, Vornado, has invested significant funding and resources to move and build out completely new spaces for the relocated casual tenants," said John H. Brennen III, executive vice president, MMPI. "These record-breaking leasing efforts and lease extensions past 2017 represent an industry-wide commitment to the Merchandise Mart and reaffirmation that the Mart is the business hub of the casual furnishings industry."
The relocation of the casual industry is part of the larger reconfiguration of the Design Center at The Merchandise Mart into four floors--floors 6, 14, 15 and 16. Casual showrooms currently reside on floors 15, 16 and 17.
"We eagerly look forward to our industry consolidating our Mart showrooms on the 15th and 16th floors, which will provide more traffic on fewer floors, and serve our customers more comfortably," said Bob Gaylord, president of Agio International.