A Chicago-based logistics firm is nearly tripling the size of its headquarters, bucking a U.S. office trend in recent years and creating room for new waves of hiring.
TransLoop is set to move into a 44,457-square-foot space at 350 N. Orleans St. in River North, the company and its brokerage, CBRE, announced Tuesday.
The sublease deal with Gartner is a huge increase from the approximately 17,000 square feet that TransLoop leased at 1 S. Wacker Drive just over three years ago in the Loop business district.
After years of companies largely reducing their office space since the onset of COVID-19 in early 2020, TransLoop’s deal stands out as a relatively rare example of aggressive expansion.
“Since our founding in 2019, TransLoop’s founding team has focused on scaling the business strategically and methodically, prioritizing long-term sustainability over rapid, unchecked expansion,” a spokesperson said in an email to CoStar News. “This disciplined approach has resulted in consistent, year-over-year growth, driven by increasing demand for transparent, reliable and technology-enabled logistics solutions.”
TransLoop said it plans to move in next month.
The company has 214 employees nationwide after 77 hires in 2025, a spokesperson said in an email to CoStar News. There are 104 employees based in Chicago.
TransLoop said it plans to hire about 100 employees across all offices this year.
Last year’s $255 million-plus in sales represented 46% growth from the previous year, with shipments rising by 43%, the spokesperson said.
“TransLoop has always hired intentionally across all departments — customer sales, operations, carrier sales, and corporate functions — to ensure each new team member receives hands-on mentorship and training and adds meaningful value to our team,” the spokesperson said.
The company is on the Inc. 5000 list and Transport Topics’ Top 100 Freight Brokerage firms. Because of the growth, the company needed a larger space with additional meeting rooms, conference space and collaborative workspaces, the spokesperson said.
“A larger headquarters allows TransLoop to reinvest directly in its people, reinforcing our culture of transparency, reliability and collaboration,” the spokesperson said.
Although TransLoop’s deal is a sublease, the addition of a fast-growing tenant could add some momentum in the more than 1.3 million-square-foot office property alongside the sprawling Merchandise Mart.
Brookfield’s retail real estate arm recently committed to stay another 15 years in its approximately 124,000-square-foot space in the building, which has been in receivership since previous owner Blackstone walked away from the investment after its $310 million loan on the property matured in 2023.
For the record
TransLoop was represented by CBRE brokers Brian McDonnell and Bill Sheehy. Gartner was represented by JLL brokers Christine Bower and Matt Carolan.