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
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