Lessen Announces Relocation of Chicago Office to Growing Tech Corridor, Signs Long-Term Lease at 203 North LaSalle Street
June 17 2024 - 12:55PM
Business Wire
In Q1 2025, Lessen will move into Class-A
office building adjacent to Google’s new Chicago outpost
Lessen, the premier tech-enabled, end-to-end solution for
outsourced real estate property services, today announced that it
will relocate its Chicago office to 203 North LaSalle Street, a
17-story, Class A office building in the city’s burgeoning Central
Loop tech district.
Founded in 2019, Lessen was created to improve the management of
distributed real estate portfolios nationwide. After four years of
rapid organic growth, the company acquired SMS Assist, a prominent
facilities maintenance technology company headquartered in Chicago,
marking Lessen’s corporate entry into the local market.
“When we acquired SMS Assist last year, its founder Mike Rothman
told me that Chicago is the greatest city in the country,” said
Lessen CEO Jay McKee. “We’re thrilled to reaffirm that sentiment
with this new space. Google’s announced move into the Central Loop
is establishing LaSalle Street as a premier tech corridor within
Chicago, and this location situates us perfectly for the next
chapter of our corporate expansion.”
For Lessen employees, the new corporate office will provide an
elevated work environment, replete with Class A amenities and
robust transportation options. With its location adjacent to
Google’s forthcoming Chicago office in the Thompson Center, Lessen
employees will further benefit from the emergence of the Central
Loop as a tech hub within the city, and the resultant economic
development.
“203 North LaSalle is one of the most enticing office properties
in the Chicago Loop. Its incredible location on LaSalle Street, the
extensive capital improvements recently made by its owner and their
focus on delivering an excellent tenant experience are why we’re
extremely excited to make this building our new Chicago home,” said
Maureen Ehrenberg, president of Lessen’s commercial division. “The
building’s large floor-plates enable us to optimize our layout,
creating a more collaborative workspace, and we’re currently
working with our new landlord to design a dynamic office setup that
will be ready for move-in by Q1 of next year. Propelled by Mayor
Johnson's efforts to reinvigorate the LaSalle Street corridor, this
area is poised to continue its economic ascendance — which will
have a positive impact on the city’s tech sector — and it is an
ideal location for our long-term future in the city.”
Nearly 1.5 years after its acquisition of SMS Assist, Lessen is
the country’s largest provider of outsourced real estate property
services, with a national footprint of more than 280,000
residential and commercial properties. The company leverages
cutting-edge technology to help property and facility teams oversee
distributed real estate portfolios, connecting owners and occupiers
with a national network of more than 30,000 trusted vendors.
“Sumitomo is proud to welcome Lessen to 203 N LaSalle, offering
a vibrant, amenity-rich environment perfectly aligned with Lessen's
company culture and dedication to its employees. As a debt-free,
stable ownership entity, we value fostering strong partnerships and
eagerly anticipate supporting Lessen's ongoing growth and success
in the heart of Chicago's Central Loop,” said Takuma Sasako, Senior
Director, Sumitomo Corporation of Americas.
About Lessen
Lessen was created to improve how real-estate portfolios are
serviced across all asset classes and locations. The company
leverages cutting-edge technology, including robust analytics and
predictive capabilities, to help property and facility teams
seamlessly manage distributed real estate portfolios. Lessen has
partnered with residential and commercial owners and occupiers, who
collectively manage over 1 million locations, to eliminate friction
and unlock value, leveraging over 30,000 trusted vendors in over
100 markets across North America. Valued at more than $2 billion,
the company is one of the largest real estate services players and
proptech companies.
Lessen LLC is a venture-backed, privately held company with
offices in Scottsdale and Chicago. To learn more, visit
Lessen.com.
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Shlomo Morgulis Antenna Group (for Lessen)
lessen@antennagroup.com