Fast-growing Chicago-based software firm doubles square footage with new Chicago location
CHICAGO – November 3, 2016 – CBRE recently negotiated a long-term lease on behalf of PowerReviews at 1 N. Dearborn St. in Chicago. This move will more than double PowerReviews’ current Chicago area space. The company will expand to 52,000 square feet from the 21,000 square feet it currently leases at 180 N. LaSalle St.
“This is the fourth move we have worked on with CBRE. It is important to have partners that you trust so you can move quickly,” said Matt Moog, chief executive officer, PowerReviews “We have more than doubled our size in the past year. We will now have space for more than 300 employees as we continue to grow and add new positions.”
Brad Serot, executive vice president, and Jarrett Annenberg, senior vice president, with CBRE’s Advisory and Transactions Services, represented PowerReviews in the transaction. Located in the center of Chicago’s Loop, 1 N. Dearborn is a 17-story office tower built in the early 1900s that offers tenants such amenities as a fitness center, conference facilities, a rooftop terrace and tenant lounge, as well as direct access to public transportation via CTA and Metra train lines. PowerReviews will occupy its new space in April of 2017.
“We continue to see excellent growth from technology firms in Chicago,” said CBRE’s Serot. ”PowerReviews is a leader in this sector and this move demonstrates the firm’s long-term commitment to Chicago and its employees. This office will be some of the most progressive and creative space in the city—with plenty of access to light, air, high ceilings, outdoor space and a 7,000-square-foot fitness center.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
