Teragonia Leases 16,000 Square Feet From Flock Freight At 318 North Carpenter Street Chicago

The property asset involved in this transaction is an office space located at 318 North Carpenter Street in Chicago, with a total square footage of 16,000. This lease transaction occurs in a market that is experiencing a reduction in the overall availability of office subleases post-pandemic, emphasizing the significance of the deal.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not specified
• Address: 318 North Carpenter Street
• Market: Chicago
• Lease Term: Seven-year
• Landlord: Oren Zaslansky - Flock Freight
• Tenant: Thomas T. Thomas - Teragonia
• Landlord's Representative: Phil Geiger & Paige Korte - Stream Realty Partners
• Tenant's Representative: Tony Coglianese & Tyler Reaumond - CBRE

This leasing agreement marks a notable transaction in the downtown market as Teragonia subleased the space to expand its operations and plans to triple its headcount over the next two years, addressing its growth needs in the region.