Office N Illinois

Tech firm Verifone doubles Chicago office footprint

Tech firm Verifone doubles Chicago office footprint,ph1

Colliers International’s Nick Polsky, Romy Zeid, Evan Djikas and Andrew Gooliak represented Verifone, a Silicon Valley-based leader in point-of-sale (POS) payment technologies, in its 27,392-square-foot lease at 550 W. Jackson in Chicago. The Telos Group represented the building’s owner, 601W Companies.

Verifone—one of the world’s largest POS terminal vendors and a leading provider of payment and commerce solutions—will more than double its current space in the building when it occupies the entire 11th floor. As the firm is building a terminal-engineering team in Chicago to overhaul its credit and debit card readers, Verifone also plans to double its Chicago-based engineering team to approximately 150 by 2020.

“Verifone explored both downtown and O’Hare locations but ultimately chose 550 W. Jackson, and downtown Chicago, to optimize its access to engineering talent,” said Gooliak. “In its initial Chicago hiring spree, Verifone found having a downtown presence better aligned with its talent strategy and requirements moving forward.”

550 W. Jackson is an 18-story, 406,000-square-foot, Class A office building located in Chicago’s West Loop. The building is undergoing renovations, with an expected completion of summer 2019, and will feature a penthouse-level fitness center and tenant lounge, an expanded and updated lobby and conference amenities, bike room and ground-level retail. The building also offers premier access to transportation options for both urban and suburban commuters, including Union Station across the street, three blocks to Ogilvie Transportation Center and two blocks to the CTA Blue Line.