Growing Showpad Expands Operations in Chicago

CHICAGO—Less than a month after securing $70 million in financing, sales technology firm Showpad had expanded its presence in Chicago by approximately 50,000 square feet.

The company, which is headquartered in Belgium and Chicago, has signed a lease for 68,391 square feet at Shorenstein Properties’ One North State office building here.

Showpad signed its original lease for 18,368 square feet at the property in December and due to successful acquisitions and growth globally, the company increased its footprint in Chicago to continue its rapid growth. Sara Spicklemire and Kelsey Scheive of CBRE represented Shorenstein in the transaction. James Stein of Cushman & Wakefield represented Showpad in the deal.

“Showpad’s explosive growth has not only been fueled by the growing demand for solutions to scale sales excellence and optimize marketing impact, but is also a testament to the amazing talent and tech community here in Chicago,” says Jason Holmes, president and COO of Showpad. “We’re excited to continue investing in Chicago and growing our presence here.”

Last month, Showpad, secured $70 million in Series D funding, a combination of debt and equity, led by Dawn Capital and Insight Partners. Silicon Valley Bank provided the debt financing for the deal.

Founded in 2011, Showpad has headquarters in Ghent and Chicago with offices in Brussels, London, Munich, Wroclaw, San Francisco and Portland. The firm boasts more than 1,200 global enterprise and midmarket customers, including Johnson & Johnson, GE Healthcare, Bridgestone, Honeywell, and Merck.

Located on the corner of State and Madison streets in Chicago’s Loop, One North State was built between 1900 and 1912 to serve as the flagship for the Mandel Brothers department store. It later became home to Wieboldt’s Department Stores and Central Trading Company.

San Francisco-based Shorenstein acquired the 16-story 550,000-square-foot building in 2016 and capitalized on the building’s robust infrastructure and large picture windows to transform the property into a hub for technology and creativity that caters to modern users. The firm added amenities such as a large town hall, a bi-level fitness center with a climbing wall and a rooftop deck reminiscent of a boutique hotel, which has enhanced the sense of community around the property, CBRE officials state.

“Shorenstein’s thoughtful redevelopment of One North State has made it a hub for innovative companies in Chicago,” said CBRE’s Spicklemire. “The stunning new amenities have created a number of key differentiators on-site that support tenants like Showpad in their efforts to recruit and retain the top talent our city has to offer.”