MB Real Estate Represents Transportation One in HQ Relocation
Chicago, IL | August 29, 2018
MB Real Estate (MBRE) is pleased to announce that Craig McCaw, assistant vice president of Corporate Services, has completed a 10,000 square foot lease on behalf of Transportation One, LLC at 770 North Halsted Street, just south of Chicago’s Goose Island neighborhood. The deal represents Transportation One’s third and most significant relocation to date in a move that will accommodate the firm’s rapid growth.
Led by Jamie Teets, Transportation One is a Chicago-based, full-service logistics provider that has experienced tremendous growth since opening its doors in 2010 and has dramatically increased its investment in tech. Due to its rapid advancement, the firm has been featured in the Inc. 5000 list of fastest growing private companies in the U.S. for the last three years in a row. To keep up with such progress, Transportation One needed an office space with expansion capabilities within the building that would allow them to double their 45-employee headcount and meet their growth projections of about 500%.
After careful consideration of alternatives around Chicago, Western Michigan, and Southern California, Transportation One decided to stay in the Chicago market due to its centralized location, access to a high volume of skilled professionals, and an EDGE tax credit agreement with the state of Illinois.
Finding a location that could accommodate both a modern, open layout office space, as well as ambitious growth projections, posed a unique challenge for Transportation One and McCaw. Loft building options were limited in River North, the location of the firm’s current HQ and first choice for their new office due to its thriving talent pool and ever-growing tech scene.
“I scoured the market looking for ideal lease lengths within neighboring spaces that matched Transportation One’s growth projections and desire to stay close to one of the city’s deepest talent pools. However, the market for loft office space has gotten so tight that if you lease space in a hot new development, chances are you are receiving multiple option notices before your client even occupies the space. We got a little creative to mitigate that risk.” said Craig McCaw.
“We’ve grown twenty times larger by revenue in the last eight years, and we plan to go much further in years to come,” said Transportation One CEO Jamie Teets. “Our new headquarters fits this rapid growth trajectory, and the location will allow us to continue attracting and retaining Chicago’s top talent."
MBRE’s Craig McCaw represented Transportation One in the transaction, and the building owner, R^2 Companies, was self-represented by Matt Duhig. Transportation One moved into their new headquarters May of this year.
About Transportation One, LLC
Transportation One is a full-service, multi-modal logistics provider dedicated to meeting the demands of the transportation industry. Our innovative, energetic team understands the constantly evolving needs of shippers and carriers alike. We invest heavily in cutting-edge technology and experienced logistics professionals, allowing us to deliver superior service to all our clients. At Transportation One, we provide worry-free shipping services at prices that won’t bleed your wallet. We build mutually beneficial relationships with each customer so that at the end of the day everyone goes home happy. We operate in both domestic and international marketplaces, introducing innovative solutions for every supply chain we encounter. Put simply, when it comes to transportation, we’re the one you want. For more information, visit www.transportationone.com.
About MB Real Estate Services Inc.
Founded in 1982, MB Real Estate is a full-service real estate organization that provides multifaceted expertise in Asset/Facilities Management; Leasing Services; Project/Construction Management; Tenant Representation and Investment Services. Separately, MBRE Healthcare and its independent affiliate fund manager, ROA Holdings, are a full-service real estate entity that acquires, develops, leases, and manages healthcare facilities across the United States. MBRE is headquartered in Chicago, with regional offices in New York, Atlanta, Columbus, Orlando, Dallas and Denver. For more information, visit www.mbres.com or www.mbrehealthcare.com.