The Real Deal Chicago

Sphera Solutions inks expanded lease in One Prudential Plaza

The software-maker will take an entire floor in the Sterling Bay-owned tower
October 25, 2018 01:30PM

Sphera CEO Paul Marushka, Andy Gloor and Prudential Plaza

Sphera Solutions is expanding its space in One Prudential Plaza, taking an entire floor in the office tower as it nearly triples its workforce.

The maker of risk-management software inked a lease for the 25,000-square-foot 29th floor of the building at 130 East Randolph Street, moving up from its 14,000 square feet on the 19th floor, according to Crain’s.

The move coincides with the firm’s plan to expand the workforce at its global headquarters here from 60 employees to 150.

As the company aims to hire young tech talent, Sphera is the latest firm to pitch a tentpole Downtown in order to attract workers.

Sphera’s lease comes after building owner Sterling Bay spent some $100 million overhauling the tower after buying the Prudential Plaza complex in April for $680 million from New York-based 601W Companies.

One Prudential Plaza is now almost fully leased, anchored by a 137,000-square-foot lease for the Chicago Tribune, which moved into the building earlier this year from Tribune Tower. Sheehan Nagle Hartray Architects also recently signed on for the entire 31st floor.

Two Prudential Plaza, next door at 180 North Stetson Avenue, is 88 percent leased, according to Crain’s.

CBRE’s Dan Persa, Brad Serot and Tony Coglianese represented Sphera in the deal, while Sterling Bay was represented in house by Dave Gloor and Jesse Slack. [Crain’s] — John O’Brien