Global commercial real estate services firm, Savills Studley, announces its lease negotiation for SIM Partners (SIM), a provider of local and social marketing automation technology, who relocated to 14,500 square feet of space at 30 N. LaSalle St. this month from Evanston, where it’s resided since its founding in 2006. After recently raising $8 million in Series A funding from River Cities Capital Funds and Jump Capital, SIM plans to double its headcount within the next year, already announcing a string of new hires earlier this month.
Tiffany Winne, Senior Managing Director of Savills Studley’s Chicago office, represented SIM in the transaction and Vicki Noonan and Greg Tait of Tishman Speyer represented the landlord.
According to Winne, SIM’s move to the Loop provides the company the bandwidth to double its staff to over 100 employees over the next year in more efficient space that reflects the company’s culture and allows prime access to its target enterprise clients as well as a pool of top talent. “Moving to 30 N. LaSalle St. will enable SIM Partners to be right in the mix with like companies and potential clients, simultaneously attracting the most desirable recruits. The location and modernized infrastructure seamlessly compliments the culture SIM has worked tirelessly to cultivate.”
Amy Cooper, Chief Financial Officer of SIM adds that both the move and plans for growth have been spurred largely from the spike in market demand for the company’s Velocity platform, a SaaS-based tool that maximizes local, social and mobile marketing to drive customer acquisition for multi-location enterprise brands. “As the market for local digital advertising is estimated to double to $44.5 billion by 2017, SIM Partners is well-positioned to remain one of the key players in hyper-local search. We are pleased with the office location and space that Savills Studley has worked with us to secure in the Loop, as we are confident it will effectively suit our future growth and evolving needs.”