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125 S Clark St Chicago, Il ...

Total Quality Logistics Signs Largest New Lease At The National In Chicago's Central Loop
LEASEDOffice

Total Quality Logistics Signs Largest New Lease At The National In Chicago's Central Loop

125 S Clark St Chicago, Il 60603, Usa

$40

$40/SF

Building Size

36,322 SF

Asset Type

Office

Closing

Aug 7, 2023

AI

Logistics company Total Quality Logistics (TQL) has recently signed a five-year lease for a 36,322-square-foot space at The National in Chicago's Central Loop submarket. This lease marks the largest new lease in the area in 2023, highlighting the company's commitment to establishing a strong presence in the region.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not mentioned in the CONTEXT
  • Address: 125 South Clark Street, Chicago
  • Market: Chicago

TQL secured the lease under the representation of Jon Milonas and James Otto from CBRE, while the landlord, German Commerz Real, was represented by Eric Myers, Kathleen Bertrand, and John Nelson from Transwestern. The collaboration between both sides ensured a smooth negotiation and agreement on the lease terms.

Players

James Otto

CBRE

Broker

3 deals

Broker
CR
Commerz RealLandlord

Chicago Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

396575.00%

Cash-on-Cash

-113342.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93