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Logistics Firms Buck Downsizing Trend in Chicago Office Market
Even as the pandemic has spurred e-commerce traffic and therefore demand for Chicago-area warehouse space, the rise of logistics firms is now making winners of local office landlords, Crain’s Chicago Business reported. As many companies try cutting back office space to adjust to the remote work movement, Chicago’s third-party logistics and freight tech companies are almost all looking for more.
Trucking company U.S. Xpress Enterprises and logistics software company Flock Freight both signed new office leases downtown over the past month, while another freight brokerage, Nolan Transportation Group, reportedly is finalizing a deal for a Fulton Market District office.
“The vast majority of my clients are implementing workplace flexibility and hinting at downsizing and giving back space,” CBRE’s Dan Persa told Crain’s. “This is the one subset that universally says they need more and that in-office culture is paramount to their business.” Persa represented U.S. Xpress in its office lease.
Pictured: 306 W. Erie, where U.S. Xpress signed a lease for three floors.
- ◦Lease
