CBRE recently represented Drift Net Securities in a 23,361-square-foot lease at 70 W. Madison Street in Chicago.
The AI security firm is expanding by approximately 10,000 square feet with this relocation from 71 S. Wacker Drive. This new space will allow Drift Net to add as many as 100 new employees to its current headcount of 75 as they look to disrupt dated security systems.
Founded in 2018 by Aaron Coles, Drift Net Securities leverages AI on-the-edge, visual sensors, threat sensors and thermal imaging in their fully integrated proprietary hardware and software to enable the real-time early detection of, and immediate response to, health and safety threats in a building.
“Being a product-oriented company means that we need to be the most innovative company in the market; and because our products can mean life or death, there is no room for error,” Coles said. “We prioritize an in-person office environment for our employees because we’ve found that physical distance is the enemy of collaboration and lightning speed innovation. We’re excited to be expanding our team here in Chicago, a city with a historic legacy of innovation, as we continue to deliver the most innovative technologies that help to make our communities safer.”
CBRE’s vice chairman Brad Serot and vice president Tony Coglianese represented Drift Net in the lease. Jamey Dix from The Telos Group represented the landlord.
“Drift Net is a company founded by two tech entrepreneurs who are committed to prioritizing physical space to promote their culture and recruit the brightest talent to help create disrupitve products in their industry,” said Serot. “While office space will continue to evolve over the next several years, companies that can focus on near term space needs today can capitalize on a depressed office market by way of exceptional lease concession packages, and use fresh, new office space as a way to differentiate from their competitors focused on work from home. We should see more opportunistic companies do the same as the year progresses.”
