The collaboration highlights a unique and forward-thinking approach to address the evolving office space demands in the ever-changing real estate landscape.
CoStar's article illuminates how Energy CX has moved into a 9,000-square-foot space at 370 N. Carpenter St. in Chicago's thriving Fulton Market district. This space, provided by Sterling Bay, serves as a pivotal location for Energy CX as it strategically positions itself for rapid growth and expansion.
This arrangement reflects the adaptability and agility of both organizations, a testament to their commitment to meeting the evolving needs of the industry.
The lease arrangement includes options for short notice termination, giving Sterling Bay the flexibility to construct a 29-story apartment tower on the site or providing Energy CX the option to transition to a larger space.
"We see Sterling Bay as a partner that will allow us to achieve our goals without our lease structure being an impediment to that," said Miles Rice, Chief Operating Officer of Energy CX.
Energy CX already collaborates with Sterling Bay to procure electricity and gas contracts for their properties. This partnership is an exciting development in Energy CX's strategic expansion, driven by significant investments in both talent and technology.
As a family-owned business established in 2005, Energy CX now manages energy for more than 20,000 properties in 14 states and anticipates significant growth.
"In an industry where no single broker controls more than 1.5% of the market, Energy CX aspires to grow to a 30% market share," Rice stated. The company's impressive growth projections include doubling its headcount from 50 employees to 100 in the coming year.
The collaboration between Energy CX and Sterling Bay reflects their commitment to shaping the future of both organizations and the continued evolution of the Fulton Market district.
About Energy CX:
Energy CX is a Chicago-based energy consultancy that specializes in empowering clients to navigate the complex energy landscape effectively. The company's data-driven approach and dedication to innovation position it as a leader in the industry.
About Sterling Bay:
Sterling Bay is a distinguished real estate developer based in Chicago, known for its transformative projects in the city. The company's innovative approach has played a pivotal role in reshaping Chicago's urban landscape.