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Chicago

Off the rails: Freight train provider lists West Loop HQ for sublease

TTX wants out of 100K sf space, as Chicago office availability balloons

TTX Company CEO Thomas Wells and 101 North Wacker Drive (Google Maps)
TTX Company CEO Thomas Wells and 101 North Wacker Drive (Google Maps)

A rail car provider whose headquarters is in the West Loop is leaving the station.

TTX has listed for sublease its 103,000-square-foot location at 101 North Wacker Drive, according to Crain’s.

The firm is the latest office tenant to reduce their office footprint or exit the Chicago market entirely.

The move comes after TTX signed a 12-year lease extension for the space in 2018. The company, which occupies five floors, has been at the office tower since 1995.

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Pat Loftus, the firm’s senior vice president, said the nature of the company’s work is becoming less centralized, which led the firm to reconsider its real estate strategy, according to the report.

The sublease market in Chicago has ballooned during the pandemic.

There is now a total of 5.3 million square feet of office space available for sublease in the central business district, according to CBRE. That’s the highest amount on record, and about 15 percent of total office availability. [Crain’s] — Akiko Matsuda

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