Total Quality Logistics Expands Chicago Footprint at Historic Central Loop Building
August 07, 2023
CHICAGO – Transwestern Real Estate Services (TRS) announces it has represented building ownership on a new lease at The National, a 20-story, 600,830-square-foot office building located at 125 S. Clark St. in Chicago’s Central Loop submarket. Building owner, German Commerz Real, was represented by Transwestern Executive Vice President Eric Myers, Senior Vice President Kathleen Bertrand and Senior Associate John Nelson in the transaction.
Total Quality Logistics (TQL), a logistics company specializing in shipping needs and supply chain efficiencies, signed a 36,322-square-foot, five-year lease at The National. Previously located at 328 S. Jefferson St., TQL’s new lease represents a 5,000-square-foot expansion in the CBD. This deal marks the largest new lease in the Central Loop in 2023.
“No other building in the Central Loop is attracting and retaining tenants like The National,” said Myers. “Even in a struggling market, this building continues to get deals done partly due to its unmatched amenities and competitive pricing. These advantages set The National apart from other buildings in the Central Loop, allowing it to close large new deals that other buildings in the submarket simply cannot match.”
“The National continues to defy conventional wisdom when it comes to the Central Loop,” added Nelson. “When you have an owner like Commerz Real that provides stability in a time of uncertainty, it allows us to provide win-win solutions for both the building and its tenants. With best-in-class amenities, and stable ownership with no building debt, The National has proven to be a place that draws employees back to the office.”
Built in 1907, The National is a designated Chicago Landmark designed by Daniel Burnham. The building was renovated in 2015 to include a new fitness center, a tenant lounge with a bar, pool table and collaborative seating, and an outdoor terrace. This renovation also included the addition of Revival Food Hall, a 24,000-square-foot dining marketplace that features local restaurants in a grab-and-go setting. The National is located within walking distance of a variety of dining, shopping and entertainment options, as well as the Monroe and Jackson ‘L’ stations.
TQL was represented by Jon Milonas and James Otto of CBRE.
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About Total Quality Logistics
Total Quality Logistics (TQL) creates greater supply chain efficiencies for their customers by combining industry-leading technology with unmatched customer service. Customers and carriers turn to TQL daily to solve their transportation needs with competitive pricing, continuous communication and a commitment to do it right — every time. Through their comprehensive portfolio of logistics services and network of 160,000+ carriers. They move 3 million loads of freight annually. TQL and their employees make the world a better place by donating thousands of volunteer hours and millions of dollars each year through TQL Cares and the TQL Foundation. They are also the naming rights sponsor of TQL Stadium, home of Major League Soccer’s FC Cincinnati. Founded in 1997 in Cincinnati, Ohio, TQL is one of the largest logistics firms in North America, with 9,000+ employees in 56 offices across the U.S. Learn more at TQL.com.
About Commerz Real AG
Commerz Real is the asset manager for real asset investments of German Commerzbank Group and has over 50 years of international market experience. More than 800 employees manage assets of around 34 billion euros at the Wiesbaden headquarters and 17 other locations and branches in Germany and abroad. The company combines comprehensive know-how in asset management and a broad-based structuring expertise to deliver its signature range of services of fund products focused on tangibles and bespoke financing solutions. The fund spectrum includes the open-ended real estate fund Hausinvest, Germany’s first retail impact fund for real assets Klimavest, institutional investment products as well as entrepreneurial participations in real estate, aircraft, regenerative energy and ships.
The US portfolio includes 12 properties in Chicago, Los Angeles, Miami, New York City, Philadelphia, Seattle, Washington D.C. and Honolulu, valued at about $3.3 billion.
www.commerzreal.com/en/.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, investment management, and opportunistic endeavors for high-net-worth investors. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
Media Contact:
Mallory Martin
312.881.7022
mallory.martin@transwestern.com
twmediarelations@transwestern.com
