Coyote Extends Lease at Chicago Headquarters
CHICAGO, IL — July 31, 2018 — MB Real Estate (MBRE) announced today that Coyote Logistics has signed a long-term lease extension for its Chicago headquarters, bringing the space’s total square footage to 175,000 square feet. Coyote’s headquarters are located in Logan Square’s Green Exchange building. The firm was represented in negotiations by MBRE’s David Burkards and ownership was represented by David Baum of Baum Development, the firm who redeveloped the property in 2006.
Coyote Logistics, a UPS company, is a leading third-party logistics provider that has rapidly expanded since its founding in 2006. David Burkards, SVP of MBRE’s Corporate Services & Tenant Advisory division, worked with Coyote on the relocation of their headquarters, alongside a number of national and international transactions.
“I’ve been fortunate to watch Coyote grow into a leader of their industry and expand their footprint in the United States, as well as globally,” said Burkards. “Extending their lease long-term is a testament to their continued success and how well the space works for their business practices and office culture.”
The Green Exchange is the country’s largest green business community. Prior to its redevelopment, the property was a former factory. Baum Development transformed the Green Exchange into a LEED Platinum-certified, sustainable development that brings green jobs into the local economy while preserving the property’s place on the National Register of Historic Places and designation as a Chicago Landmark.
“Coyote has been lucky enough to call the Green Exchange home for the past seven years,” says Coyote President Jonathan Sisler. “As Coyote’s footprint continues to grow, we are confident in our decision to move forward with our long-term lease. Logan Square has been a great home for our headquarters and we are excited for what the future holds in this great building and neighborhood.”
David Baum, CEO of Baum Development, is the landlord on the deal. “We’ve been very fortunate to have Coyote as our anchor tenant,” says Baum. “We’re a boutique company and having a long-term extension is important for us. Coyote’s growth has been extraordinary, and we’re so impressed with their culture which includes a strong sense of corporate social responsibility—they really are a model company.”
Coyote Logistics has been a tenant of the Green Exchange since 2011 and has additional offices throughout North America and Europe.
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.
About Baum Development:
Baum Revision LLC was formed through the combination of Baum Development, LLC and Revision Group, LLC as the result of a shared mission to build a portfolio of signature projects in urban environments that represent the principals’ commitment to social responsibility, preservation, and sustainability. Baum’s portfolio currently represents a capitalization of approximately $160M and includes all asset classes located throughout the United States totaling over one million square feet across approximately 40 projects. For more information about Baum Development, visit www.baumrevision.com.
Coyote Logistics is a leading global third-party logistics provider that combines a diverse, centralized transportation marketplace matching more than 10,000 shipments every day. Coyote offers a comprehensive multi-modal solutions portfolio – including truckload, less than truckload (LTL) and intermodal – with data intelligence and market insights to help empower our customers’ business growth in a rapidly changing world. We became a UPS company in 2015, adding UPS asset utilization, air & ocean freight forwarding, and more to our expanding portfolio of global services. Headquartered in Chicago, Coyote has more than 3,000 employees operating in 20 offices worldwide.
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