Google isn’t the only tech tenant expanding its Chicago-area presence with Sterling Bay. Sphera Solutions has leased the entire 25,000-square-foot 29th floor of Sterling Bay’s One Prudential Plaza, and will sublease its current 14,000-square-foot space there when it relocates within the property next spring.
Sphera Solutions, which develops risk management software used by thousands of large companies, plans to employ up to 150 people at its Chicago headquarters by the end of 2019.
“We have so much demand that we don’t have enough people to staff,” CEO Paul Marushka told Crain’s Chicago Business. He added that the company was leaving open the possibility of taking back the sublease space to accommodate growth.
CBRE’s Dan Persa, Brad Serot and Tony Coglianese represented Sphera. Sterling Bay’s Dave Gloor and Jesse Slack represented the landlord, which bought One Prudential Plaza and the neighboring Two Prudential Plaza for $680 million this past April.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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