Molson Coors will cross the Chicago River next summer when its global headquarters moves to a new location at 320 S. Canal Street.
The company’s long-term lease for 83,848 sq. ft. on three stories of the 52-story skyscraper will begin in summer 2024, according to a press release. The space will include an employee pub terrace for gatherings.
Nearly 400 employees will report to the new office, which houses most of Molson Coors’ corporate functions, including marketing, sales and communications. The company’s finance, legal and human resources departments are spread across both the Chicago and Milwaukee offices, a Molson Coors spokesperson told Brewbound.
“Molson Coors unites people, whether through our brands or within our team,” Molson Coors chief people and diversity officer Dave Osswald said in the release. “Our new Americas headquarters gives us the opportunity to step into fresh, collaborative spaces in a state-of-the-art office building that provides abundant amenities.”
Molson Coors’ new headquarters is about a quarter of a mile from its existing office at 250 S. Wacker Dr. The Chicago office became the company’s sole North American headquarters in 2019 after Molson Coors closed its Denver office as part of the revitalization plan it has credited with its success in recent years.
Since October 2021, Molson Coors employees have adhered to a hybrid schedule that has them spending three days in the office each week.
The new location was selected because it “allows for more collaboration, with an open concept and meeting spaces spread across the three dedicated floors connected by an internal staircase,” according to the release. 320 South Canal – BMO Tower is connected via pedestrian walkway to Chicago’s Union Station, has its own privately owned 1.5 acre park, and boasts views of Lake Michigan. The building is owned by Riverside Development & Investment and Convexity Properties.
Year-to-date through April 23, dollar sales of the Molson Coors portfolio at multi-outlet grocery and convenience stores have increased +4.6%, to $2.2 billion, compared to the same period last year, according to market research firm Circana. However, the company’s volume – measured in case sales – declined -1.6%. Molson Coors products account for 17.48% of all beer category dollars spent at off-premise retailers tracked by Circana.
Molson Coors employs 16,600 people globally, 10,000 of whom are based in the U.S., according to its 2022 annual report.