Savills accomplished a company headquarters relocation for medical online game firm, Degree Ex, to 180 N. LaSalle Avenue, a 38-story, 760,000-square-foot Class A workplace tower within the Chicago Loop. The tech agency’s new location is greater than 20,000 sq. ft, double the dimensions of its earlier workplace in River North. Its expanded footprint can now accommodate as much as 125 workers. The sublease commenced in early 2020 and consists of the constructing’s whole fifth ground.
Savills company managing director, Jon Azulay, and senior managing director, Adam Mitchell, suggested the rising firm in lease negotiations. The sub-landlord, Newell, was represented by James Stein and Jack Tunnicliff at Cushman & Wakefield.
“Since its founding 5 years in the past, Degree Ex has been on a fast development trajectory. The corporate has launched a number of cell video games for physicians, has 500,000 healthcare professionals taking part in its video games and noticed a 75 p.c improve in personnel in 2019,” Azulay stated. “As a result of the enterprise is increasing so shortly, it wanted an area that would not solely deal with continued development, however one thing turnkey that would help seamless and environment friendly operations.”
Degree Ex creates cell, augmented actuality and digital actuality video games for physicians. The corporate makes use of state-of-the-art online game expertise and cognitive neuroscience to seize the challenges of training drugs.
“As a number one tech metropolis, Chicago continues to draw startups and established tech firms seeking funding, expertise and a extra reasonably priced workforce compared to choose markets on the East Coast or West Coast,” Azulay stated. “Degree Ex’s transfer is a first-rate instance of the strong development of the expertise trade within the metropolis. Subleases are at present in excessive demand with these firms as a result of they often provide aggressive charges and higher time period flexibility. This helps keep away from long-term commitments and permits the corporate to take a position dollars within the enterprise relatively than spending extra capital on workplace house.”
180 N. LaSalle Avenue, which is owned by Ivanhoe Cambridge, is positioned on the nook of LaSalle and Lake streets. The property advantages from shut proximity to retail, eating and cultural facilities, in addition to the Chicago Riverwalk. It’s located inside minutes of the Metra and Amtrak rail stations, sits straight throughout from the CTA elevated subway hub within the Thompson Heart, and presents entry to a 900-space parking storage.