Customer engagement platform Braze Inc. has signed a multiyear lease for 50,000-square feet at One North State Street in Chicago’s East Loop, according to commercial real estate agency Savills.
Braze (Nasdaq: BRZE) which went public in November, is taking the entire 10th floor of One North State Street.
Savills, which represented Braze in the lease transaction, said the tech company signed the sublease in December after an extensive market search and it chose the East Loop location because it’s highly accessible to its large commuter population.
Located at the corner of State and Madison Streets, the property is a short walk to Millennium Park, the Chicago Riverwalk,and CTA stations.
Savills Vice Chairman Robert Sevim, Executive Managing Director Gabe Marans and associate Cullen Hurley created a real estate plan for Braze to support the company’s workplace needs and account for its anticipated headcount growth.
“Braze is growing globally, and we’re thrilled that Chicago is one of the cities where the company’s presence continues to expand,” Sevim said in a statement. “The full floor at One North State was fully built-out recently and offers the optimal configuration for a growing technology company. The existing conditions provided significant benefits for cost mitigation, as Braze only needs to make minimal modifications to the space.”
One North State Street was built in the early 1900s as the flagship for the Mandel Brothers department store. The building was recently upgraded with a rooftop deck, fitness center and a large communal space with expansive seating options, gaming areas and food providers.
“Owner Shorenstein Properties has invested heavily in the property and created a best-in-class tenant amenity space, including an outdoor deck that is rare for an office building situated along State Street,” said Sevim. “The building’s ability to provide flexibility for future growth and its large floorplates that offer spacious open areas and abundant light and air made this the ideal solution for Braze’s long-term real estate goals.”
Allison Olszta, Brad Serot, and Paul Reaumond of CBRE represented the sublessor, Showpad, in Braze's transaction.
