BoF TOP INDUSTRY NEWS An Early Peek at NeoCon: themart is Preparing for Your Arrival IN THE LAST THREE YEARS, WE HAVE RENEWED ALL FIVE OF OUR ANCHOR TENANTS (THOSE WITH SPACES OF 15,000 SQUARE FEET OR LARGER). ALL THE MAJORS ARE LOCKED IN INTO THE 20S. STORY BY ROB KIRKBRIDE There are a few boxes scattered around the floors of themart, many windows are covered in paper to keep prying eyes from seeing showroom renovations, and the sound of construction work is everywhere as the office furniture industry prepares for its biggest event, NeoCon, which is just a few short weeks away. But the run up to NeoCon 2017 seems different this year: more composed, less frenetic than years past. Has the industry finally learned its lesson and built out showroom changes earlier this year or are fewer tenants renovating? Maybe it s because themart has changed with most of its own upgrades in place? All of the above are true, but regardless, visitors to the annual event can expect another spectacular show. Byron Morton has been around NeoCon long enough that when he strolls through the halls of themart, he acts like a proud parent. Remember when they were just a small company? he asks, pointing to construction in a showroom occupied by a fastgrowing furniture brand. I love what they are doing, he says as he walks by another showroom. That s no surprise since Morton, vice president of leasing 12 The Business of Furniture Subscribe at bof.press May 3, 2017
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BoF o 14 TO P I NDUST RY N EWS
at Merchandise Mart Properties Inc., and the entire staff at themart that works on NeoCon, has worked so hard in recent years to make the show the most important office furniture event in the world no small task. Just a few years ago, many in the industry wondered if NeoCon would survive as themart parceled out more and more of the building for emerging tech firms and other Chicago companies eager to move from the burbs to a central downtown location. The building felt tired. The major office furniture tenants were restless. Flash forward to today. TheMART has undergone millions in renovations that improved lighting, carpet, wayfinding, elevators, mobile phone connectivity and just about every other aspect of the show floors. The Grand Stair was finished in time for last year s NeoCon and has become a hub of activity for tenants who use the area to work or eat their lunch. TheMART River Park is so popular it is often filled to capacity, and it s available for event rentals. Then there s the new Marshall s Landing at the Merchandise Mart, which opened on a temporary basis last year at the top of the Grand Stair. This year it will be open, a new lounge for tenants and building visitors, designed for working, socializing, meeting, eating, drinking and snacking. Marshall s Landing, operated by DMK Restaurants, is sure to be one of the main hubs in themart. Designed by architecture firm A+I Architects, the space pays homage to iconic Chicago figure and building developer, Marshall Field. The name Marshall s Landing also was inspired as a designated place for tenants and visitors to land and make their home base. Look for partners David Morton and Chef Michael Kornick to provide day-to-day menus and artisanal coffee, along with a full-service bar. There is a seating capacity of 280. Here s a pre- NeoCon tip: If you would like to watch the keynote presentations, including the sold-out Arianna Huffington on Monday, but didn t bother to register for a ticket, or you don t want to try to make 15
BoF TOP INDUSTRY NEWS it up to the 19th floor ballroom (where all the major events will be held this year), you can watch the proceedings on the giant screen above the Grand Stair. So it is going to be awesome, Morton says simply about NeoCon. It is fun to run and host the bellwether event for the industry. If he sounds relaxed, that s because he is. All of the major tenants are signed to long-term leases, happy to call themart home for a long, long time. The temporary spaces on the seventh floor are completely filled. And the show is ready to go on. Over the last four years, NeoCon has grown 4 to 6 percent. More than 53,000 people attended the show last year, and preregistration is running at about the same levels as 2016. As of a few weeks ago, the hotel block for the event was about 80 percent full. In the last three years, we have renewed all five of our anchor tenants (those with spaces of 15,000 square feet or larger). All the majors are locked in into the 20s, Morton says. The show has hit a nice equilibrium for us. We are 100 percent leased. It s just been phenomenal. Equilibrium means Morton has juggled the desire for some companies to expand Boss Design has a new space on the third floor near Humanscale that is three times the size and those who want to be added to NeoCon. The show improved when themart eliminated the eighth floor as a temporary space, but it has tightened the available space up. And when one company expands or moves, it sets into motion a series of moves with Morton trying to fit all the puzzle pieces in place. One change isn t a single change at themart, it more like four. There s going to be a lot to see and do this year. Haworth, OFS and Paoli will have newly remodeled spaces, just to name a few. The construction might be lighter this year, but the big companies are still doing big jobs, Morton says. NeoCon is debuting Icons @ NeoCon, a special series of seminars headlined by four design and business experts: Lauren Rottet, founding principal and president of Rottet Studio; Cheryl Durst, executive vice president and CEO of IIDA; Carol Ross Barney, founder and president of Ross Barney Architects; and Howard Tullman, CEO of 1871. The New Talent Spotlight showcases young designers. There are countless showroom parties. Oh yeah, there s a lot of furniture and related products to see. So get out those comfortable (black) shoes, pack your bags and get ready. NeoCon begins exactly 40 days from now. Let the countdown begin. BoF 16 The Business of Furniture Subscribe at bof.press May 3, 2017
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