CIM Group announced today the signing of a long-term lease with piercing and jewelry brand Rowan for a prominent, approximately 900-square-foot retail space on Michigan Avenue at The Shops at Tribune Tower in Chicago, Illinois. The new location is Rowan’s first in Chicago and is part of the company’s ongoing expansion of its retail studios in select markets across the U.S.
"Rowan was founded in 2018 to offer safe piercings in a way that celebrates the experience as a life milestone. Piercings are performed exclusively by licensed nurses. All earring designs are hypoallergenic, using only ethically sourced materials, expressly suited for freshly pierced ears. The company uses earrings that are pre-sterilized 14k gold or stainless steel and titanium. Rowan does not use brass, nickel or zinc in any of the earrings and does not use metals that can cause irritation, rashes or any kind of allergic reactions,” noted Louisa Schneider, CEO and Founder of Rowan.
“Rowan offers a popular line of jewelry and elevated ear piercing experience at its signature retail studios. It adds to the eclectic mix of retailers and experiences that we are assembling to differentiate The Shops at Tribune Tower and enhance it as a destination for locals and visitors to the Magnificent Mile,” said Shaul Kuba, Co-Founder and Principal, CIM Group.
Rowan’s location fronts Pioneer Court, developed by CIM Group and Golub & Company, and along with recently announced Blue Bottle Coffee, is anticipated to open in early 2023. Rowan and Blue Bottle Coffee join Foxtrot Market and Museum of Ice Cream that opened earlier this year and are serving locals and visitors to the area.
Pioneer Court adds a richly landscaped and artfully designed, park-like area and dramatic view corridor between Tribune Tower and the neighboring Apple flagship store. An array of trees, shrubbery, flowering plants, and benches establish Pioneer Court as a picturesque gathering spot and event space that is equally appealing to locals and visitors. “Pioneer Court has become a popular spot to take in the view of the river, stop for refreshments or relax and people watch,” noted Kuba.
CIM Group controls approximately 60,000 square feet of flexible retail space on Michigan Avenue with its Tribune Tower and 444 N. Michigan Ave. properties, and its leasing team has designed and is executing on a merchandising plan that brings a collection of dynamic retailers to this area of the Magnificent Mile.
The Shops at Tribune Tower consists of 50,000 square feet of retail spaces that anchor the ground floor of the iconic 36-story, 740,000-square-foot Neo-Gothic Tribune Tower, which has been transformed into 162 luxury residential condominiums by owners CIM Group and Golub & Company. In addition to Rowan, Blue Bottle Coffee, Foxtrot Market, and Museum of Ice Cream at The Shops, across the street CIM Group brought a HOKA pop-up to 444 N. Michigan Ave., the 36-story, 517,000-square-foot Class A office building with high street retail at the base on Magnificent Mile, further expanding the retail options and pedestrian engagement in this increasingly popular section of Michigan Avenue.
In addition to Tribune Tower and 444 N. Michigan Ave., CIM’s portfolio of Chicago properties include 425 S. Financial Place. a 40-story, approximately one-million-square-foot office complex in the Central Loop; Block 37, the 275,000-square-foot five-level retail center in Chicago’s Loop; mixed-use properties at 1241, 1647, and 1912 N. Milwaukee Ave.; Paragon, an apartment development at 1326 S. State St.; Chestnut Place, a 30-story apartment and retail development at 850 N. State St.; and the 1550 On the Park residential condominium development.
About CIM Group
CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.
About Golub & Company
Founded in 1960, Golub & Company (“Golub”) is a leading vertically integrated private real estate development and investment firm with a rich history of managing investments across the U.S. and Europe. Golub and its affiliates have owned, leased or managed more than 50 million square feet of commercial, mixed-use and multifamily real estate properties, including 45,000 residential units, valued in excess of $10 billion located across the U.S. and internationally. Golub prides itself on its excellence in design and construction, thoughtful attention to detail and respect for people and communities.
Rowan
Rowan is an innovative and trendy ear-piercing studio that brings safety to the forefront with their team of licensed nurses and genuine hypoallergenic jewelry. Their brick-and-mortar locations across the US provide a long-overdue alternative to the standard mall piercing and believes that ear piercing is a milestone moment that should always be accessible, enjoyable and safe for all. Website: www.heyrowan.com Instagram: www.instagram.com/heyrowan/
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Contacts
CIM Group Media Contact
Karen Diehl
Diehl Communications
310-741-9097
karen@diehlcommunications.com
