CHICAGO, IL -- (Marketwired) -- 03/30/16 --
Chicago-based Echo Global Logistics, Inc. (NASDAQ: ECHO), a leading provider of technology-enabled transportation and supply chain management services, announced that it has signed a 224,678-square-foot lease at 600 West Chicago Avenue in Chicago. The lease signifies a 132,000-square-foot expansion for Echo at the location.
A bulk of the expansion will accommodate approximately 500 workers that Echo will move from nearby Skokie, IL. Last year, the firm acquired Skokie-based Command Transportation.
"We've experienced remarkable growth since our founding in 2005, both organically and by acquiring tremendous companies like Command Transportation that have contributed to making Echo a leading third-party logistics provider," said Douglas R. Waggoner, Chairman of the Board of Directors and Chief Executive Officer at Echo. "We're excited to bring the Command team under one roof with us here in Chicago and ensure we continue to provide outstanding service and transportation solutions to our clients."
"Echo has become one of Chicago's leading logistics firms, and this expansion is a testament to its explosive growth and market-leading practices," said Todd Lippman, a vice chairman at CBRE, which represented Echo in the lease. "The firm looked at multiple options in the Chicago area, including suburban properties, but ultimately the decision to stay in its current location and expand was determined to be the best scenario. Echo has firmly established itself in the area, and the surrounding workforce will provide ample opportunity for future expansion."
With this transaction, 600 West is now 100 percent leased. The building is located in Chicago's desirable River North neighborhood that boasts a strong labor force, trendy culinary scene and growing rental market. Echo employees currently enjoy 600 West building amenities that include direct access to public transportation via shuttles to and from Metra and L stops such as Ogilvie; Union Station; Metra/SS; and the L's red, brown and blue lines. In 600 West, the new Echo space will have open floor plans that encourage collaboration across multiple business lines. Employees will also have access to the building's new rooftop deck.
Todd Lippman, vice chairman; Brad Serot, executive vice president; and Paul Reaumond, senior vice president with CBRE, represented Echo in the transaction. Jack O'Brien, executive vice president, and Matt Pistorio, senior vice president, with Telos Group represented the landlord.
About Echo Global Logistics, Inc.
Echo Global Logistics, Inc. (NASDAQ: ECHO) is a leading provider of technology-enabled transportation and supply chain management services. Headquartered in Chicago with more than 30 offices around the country, Echo offers freight brokerage and Managed Transportation solutions for all major modes, including truckload, partial truckload, LTL, intermodal, and expedited. Echo maintains a proprietary, web-based technology platform that complies and analyzes data from its network of over 30,000 transportation providers to serve clients across a wide range of industries and simplify the critical tasks involved in transportation management. For more information on Echo Global Logistics, visit: www.echo.com.
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Echo Global Logistics
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Echo Global Logistics
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