High-tech firms increasingly look to the CBD when searching for new space, and downtown landlords have begun making extra efforts to sign them up as tenants. One North Interactive, a digital agency at 1 N. Dearborn, for example, has just decided to relocate its headquarters to more than 17,000 square feet on the 15th floor of 222 North LaSalle St., a decision made easy by the landlord’s plan to design and build out a suite for the company.
“Tech companies typically want to move quickly,” Savills Studley executive managing director Lisa Davidson tells GlobeSt.com. “They don’t want to be the ones to go out and hire an architect. The answer to that has usually been occupying spec suites, but this is more customized and appealing.”
Davidson and Savills Studley senior managing director Tiffany Winne negotiated the lease for One North. Joseph Gordon of Tishman Speyer represented the landlord.
One North has about 75 employees, but plans to expand its workforce to nearly double that number, Davidson adds. It could have rebuilt its present space, but company officials felt this would have disrupted operations. And its new office, which it will occupy by June, will accommodate the workforce expansion on roughly the same footprint. “It’s not just a functional space, but a space which is branded specifically for them...”CBD Owners Working Hard to Get Tech Cos.
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National Office Sector Report (Q4 2014)