Fast-growing technology firm doubles space in West Loop
CHICAGO – February 2, 2016 – CBRE recently represented NuCurrent in the lease of 4,100 square feet at 641 W. Lake Street in Chicago.
Dan Persa of CBRE represented NuCurrent in the transaction.
Chicago-based NuCurrent is a pioneer in wireless power technology. The firm has patented the world’s most efficient antennas for wireless charging electronics - from wearables to phones to IoT and even inside automobiles. NuCurrent is moving from a 1,400-square-foot location at 650 W. Lake St. in Chicago.
“The company is more than doubling its space and its headcount with this transaction,” said Persa. “This move is a testament to the demand and innovation that NuCurrent has created in only a few short years.”
Located in Chicago’s popular Far West Loop area, 641 W. Lake allows for immediate access to public transportation at both Metra and CTA train lines. The building sits on the eastern border of the growing Fulton Market area, which has become a popular destination for tech firms and startup companies.
According to CBRE Research, in 2015 the Far West Loop/Fulton Market Area saw its direct vacancy rate decrease from 14 percent to 12.3 percent and overall asking rates increased from $21.74 to $27.33, demonstrating significant market growth.
“The West Loop/Fulton Market area has become a hotbed for tech companies in Chicago, and, as NuCurrent continues to expand, they will be well positioned to attract the growing labor pool that desires to live and work in this market. ” said Persa.
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 (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
