McCaffery Brokerage Finalizes Seventh Lease for The Lovesac Company
McCaffery Brokerage, a division of Chicago-based McCaffery Interests, Inc., is proud to announce it has executed the seventh lease on behalf of furniture innovator, The Lovesac Company®. As tenant representative for the brand, McCaffery leveraged its market knowledge, current and forecasted economic data, and consumer trends to identify ideal locations for new Lovesac brick-and-mortar showrooms across Illinois and Indiana. McCaffery Brokerage Directors Andrew Macafee and Ross Modjeska have now represented Lovesac on seven long-term commercial leases.
“McCaffery was instrumental in assisting Lovesac with identifying targeted trade areas in the Chicagoland area,” said Lovesac Vice President of Real Estate, Clary Groen. “They aggressively scouted multiple opportunities in those markets and were able to finalize great deals.”
A few of the deals required McCaffery Brokerage to tap into the company’s full-service capabilities to affect change in the markets targeted for Lovesac. For tax collection reasons, Naperville, Illinois had laws against the showroom retail model. McCaffery Brokerage, Investment, and Asset Management teams worked diligently to persuade local leaders and economic developers that Lovesac’s “bricks-to-clicks” model was the future of retail and demonstrate that sales tax would still be generated for the City of Naperville. After several months of discussions, market data presentations and committee meetings, McCaffery successfully overturned the ban so zoning regulations could be amended, allowing Lovesac Naperville to open in Q1 2021.
“Our team is not afraid to initiate new relationships and make connections across our industry to get new deals for any of our tenants,” said McCaffery Director of Commercial Leasing Ross Modjeska. “Our experience as a successful urban developer paired with our innate, street-level retail experience and knowledge that spans a number of markets across the country are required to succeed in this retail world which seems to breaking away from the traditional shopping mall model.”
Lovesac is a technology driven company that designs, manufactures and sells unique high-end furniture. Derived from its proprietary ‘Designed for Life’ approach, products are made to last a lifetime. The McCaffery-brokered Lovesac locations include Geneva, IL; West Randolph Street in Chicago; Downtown Naperville, IL; Bloomington, IL; Gurnee, IL; Orland Park Place in Orland Park, IL; and at the Jefferson Pointe Center in Fort Wayne, IN.
McCaffery Brokerage is invested in providing strategic tenant representation for acquisition, relocation, consolidation, and renewal projects that make sense for client’s needs. Finding the next storefront, showroom, or black-iron-ready space is a personal, detailed process, and McCaffery treats it as such. For more information, email our tenant representatives directly at Leasing@McCafferyInc.com.