An encouraging growth story: Payline Data, a fast-growing payments enabler, expands, relocating their office into approximately 10,000 RSF of a customized build-out space in the 225 W. Wacker Drive building.
Payline, an industry-shaping payments company in Chicago, recently relocated their office to a customized space built to fit their fast-growing needs. The payments enabler powers killer payment experiences for buyers and sellers through their solutions, such as the recently launched payment API, Payline I/O.
Since 2009, Payline has continued to make the charts as one of the fastest growing financial tech businesses. In August 2016, Inc. Magazine put out it’s annual Inc. 5000 list of America’s fastest growing private companies, and Payline was among the top businesses listed in Chicago. With a revenue growth of 1,866 percent, the company was ranked at 208, so it should come as no surprise that Payline made a long-term commitment to a space that can support their growing team.
Payline chose this location given it’s convenience to public transportation for its employees, proximity to hot-neighborhoods (West Loop, River North, River Walk and Fulton Market), and a property that could be flexible to Payline’s rapid growth. Like any company that experiences constant changes (Payline’s history includes a sublease, short-term spec suite, and now a custom build-out), negotiating an opportunity to allow for just as much term, growth, and retraction flexibility is just as important as negotiating the right economic situation.
It’s no doubt that growth strategies played a heavy role in this decision, but so did the opportunity to stay ahead of the curve when it came to utilizing the space to spur employee creativity and attract top talent. Payline CEO Jeff Shea was part of every decision going into the build-out of the space, making sure each aspect was parallel to the culture and mission of Payline and enabling this growth story.
Savills Studley advised Payline since its early stages of business and represented the company in this lease negotiation as well. One of my personal favorite aspects of Payline is the positive impact they seek by empowering not just their employees and clients, but also the community in which they serve. By partnering with 12 hand-selected causes through their reinvigorated Payline Giving program, Payline will be making contributions through the year and connecting their employees and customers with each cause through the positive impact they make both in Chicago and around the world.
225 W. Wacker, Payline’s home, totals 650,812 rsf with 31 stories. Amenities include indoor parking, Cafe Baci, a concierge service, a fitness center, an outdoor deck and a news stand.
For more information about the strategies that went into the successful growth story of the above project, 225WW, or any other option in the Chicago area, I can be EMAILED HERE.