New Chicago Office Space Signals VTS’ Expanded Footprint in the Midwest —The Leading Tech Company Signed 36,000 Sq-Ft At Tishman Speyer’s 320 N. Sangamon in Booming Fulton Market—
New York, NY
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March 04, 2022 09:00 AM Eastern Standard Time
VTS — the commercial real estate (CRE) industry’s leading leasing, marketing, asset management, and tenant experience platform, today announced it has signed a 35,914 square-foot lease at Tishman Speyer’s 320 N. Sangamon - a 13-story mixed-use building that was recently completed in 2021 in Chicago’s Fulton Market district. VTS was represented by Savills Vice Chairmen Robert Sevim and Jim Wenk, Associate Cullen Hurley, and Assistant Director Allison Buck. The news comes on the heels of VTS’ notable March 2021 acquisition of Chicago-based Rise Buildings, the property operations and tenant experience technology company. Since the acquisition, the Chicago market has become increasingly important as VTS has grown both its headcount, customer base, and investment in the region, driving the critical need for expansion from its previous space at 312 N May.
In addition to its corporate headquarters in New York, VTS currently maintains offices in San Francisco, Los Angeles, Austin, London, and Toronto; the new Chicago space symbolizes VTS’ continued investment in expanding its Midwest presence. Fueling the need for space is significant customer and team growth across every sector in which the platform operates. In addition to the brand’s acquisition of Rise, the platform has continued to expand to provide landlords and brokers with the best data possible across the entire asset lifecycle. Included in that expansion is its October 2021 acquisition of Lane, the workplace experience platform; December 2020 launch of the VTS Office Demand Index (VODI); and June 2020 launch of VTS Market; all contributed to the company’s propelled footprint expansion both domestically and internationally.
“Having both a fantastic customer base here along with a deep bench of potential talent made the decision to expand our presence in Chicago an easy one. Fulton Market has emerged as one of the hottest submarkets in the country, and we chose to establish ourselves in an innovative locale that employees want to come to”, said Nick Romito, CEO of VTS. “Specifically, as we double-down on our investment in the tenant experience space and continue to meaningfully grow VTS Rise’s leading team, the area’s rich, diverse talent from surrounding top universities and leading Fortune 500 companies will serve us well. Additionally, with the vision Tishman Speyer has for the asset, we’ll be working with them in making the building a modern example of how technology can transform the entire customer journey for a tenant using the full VTS platform, something we’re very excited about.”
With efficient and open concept spaces ranging from 24,800 to 28,200-square-feet, 13’ slab-to-slab floor heights and stunning shared and private terraces, 320 N. Sangamon’s 270,000-square-foot expertly crafted and pet-friendly building is designed to inspire tenants’ prime work and improve their overall well-being. Located on-site are 48 convenient indoor parking spaces, an indoor bicycle room, and numerous community Ridy scooters for a more fitness-focused commute.
“320 North Sangamon was the optimal location for VTS to grow and attract the best talent and capture the firm’s vitality,” said Savills Robert Sevim. “The space will allow the firm to create a unique environment across multiple floors and the building offers a robust and attractive tenant amenity package for employees to experience. The Fulton Market district was the right choice for VTS as the dynamic neighborhood features the energy and momentum that mirrors VTS’ enterprising culture.”
“We designed and developed 320 North Sangamon to appeal to the world’s most creative and talent-driven companies,” said Tishman Speyer Managing Director, Nooshin Felsenthal. “It is a validation of those efforts to have an innovator like VTS, which resides at the intersection of real estate and technology, choose this location for its Chicago expansion.”
320 N. Sangamon is conveniently situated in the heart of Fulton Market, with numerous retail and dining destinations lining the corridor. The property has nearby access to the Pink and Green CTA rapid transit lines and is serviced by several bus lines as well. Once an industrial area packed with warehouses and factories, Fulton Market has transformed into Chicago’s fastest-growing submarket, and one of the most desired commercial districts in the country - including one-of-a-kind galleries, trendy hotels, and unique shopping spots.
About VTS
VTS is commercial real estate’s leading leasing, marketing, asset management, and tenant experience platform where the industry comes to make deals happen and real-time data comes to life. The VTS Platform captures the largest first-party data source in the industry, which delivers real-time insights that fuel faster, more informed decision making and connections throughout the deal and asset lifecycle. VTS Data, the industry’s only forward-looking market dataset, and VTS Market and Marketplace, the industry’s first integrated online marketing solution, give landlords, brokers, and tenants unparalleled visibility into real-time market information and the direct connectivity to execute deals with greater speed and intelligence at every point in the planning, marketing, leasing, and asset management cycle. VTS Rise is the industry’s most comprehensive tenant experience solution, offering occupiers, building operators, and visitors an immersive, tech-enabled experience.
More than 60 percent of Class A office space in the US and 12 billion square feet of office, retail, and industrial real estate globally is managed on the VTS platform. VTS’ user base includes over 45,000 CRE professionals including respected industry leaders like Blackstone, Brookfield Properties, LaSalle Investment Management, Hines, Boston Properties, Oxford Properties, JLL, and CBRE. To learn more about VTS, and to see our open roles, visit www.vts.com.
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