Coyote Logistics Extends Lease at Chicago HQ for a Total of 175K SF
Chicago, IL | July 27, 2018
MB Real Estate (MBRE) announced today that Coyote Logistics has signed a long-term lease extension for their Chicago headquarters, bringing the space’s total square footage to 175,000 square feet. Coyote’s headquarters is 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 Coyote Logistics
Founded in 2006 and headquartered in Chicago, Coyote Logistics LLC, a UPS company, is a leading third-party logistics (3PL) service provider in North America and Europe. Coyote provides truckload, less-than-truckload, intermodal, and cross-border brokerage and transportation management services to more than 14,000 shippers utilizing a network of 50,000 carriers. Coyote became a UPS company in August 2015, adding UPS asset utilization, air freight, ocean freight, customs brokerage, and much more to its portfolio of services. Coyote is a proud philanthropic supporter of St. Jude Children’s Research Hospital, for which it has raised more than $2.3 million in seven years.
Coyote has been widely recognized for its innovation, growth, and culture. In 2018, Coyote was named to Inbound Logistics Top 100 3PL list and named a Top Employer for Women and Best Midsize Employer by Forbes. Coyote was named to the Atlanta-Journal Constitution’s 2018 Top Workplaces for the fifth year and Coyote President Jonathan Sisler was named a Supply & Demand Chain Executive Pro to Know. In 2017, Coyote was named a Top Workplace by the Chicago Tribune for the seventh consecutive year and Forbes named Coyote to its list of America’s Best Midsize Employers. Coyote Chief Information Officer Darren Cockrel was named Technologist of the Year by the Illinois Technology Association, Selling Power ranked Coyote #23 on its list of 50 Best Companies to Sell For, Food Logistics named Coyote a Top 3PL and Cold Storage Provider, Inbound Logistics named Coyote a Top 100 3PL Provider, and Coyote’s shipper-facing mobile application CoyoteHOWL was awarded a Supply & Demand Chain Executive 100 award. For more information about Coyote, please visit www.coyote.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. We take a triple bottom line approach by focusing not only on the financial return on investment, but also by taking great pride in contributing positively to the communities in which we work and by protecting the environment through sustainable development. We believe that making economically, socially, and environmentally responsible decisions are vital to the assets in which we invest, the communities where we invest, and ultimately, to our success as a company.
Our portfolio today represents a capitalization of approximately $160MM and includes all asset classes located throughout the United States totaling over one million square feet across approximately 40 projects. Our experienced and talented executive team has over 50 years of collective real estate investment and development practice. This acumen, knowledge, and creativity allow us to execute development projects that others deem unfeasible and achieve superior risk-adjusted returns over the long-term. We enjoy working with like-minded tenants and partners that have a continual goal of creating enduring and unique assets.