–International engineering services company, Middough Inc. has signed an extension of their existing lease at 700 Commerce Drive, totaling 68,748 SF, after a thorough examination of their real estate needs and the surrounding marketplace.
Robert Sevim, Executive Managing Director of Studley’s Chicago office represented Middough and negotiated the transaction along with Jeff Mann of CBRE, who represented the landlord, Principal Financial.
According to Sevim, Middough has been a long term tenant at 700 Commerce Drive and is pleased with their tenancy there. They decided, however, given today’s workplace environment, that reviewing the firm’s space dynamics and market alternatives would allow them to gauge whether another location would support their business more effectively and economically.
“Vetting the market was important for Middough. It supported the fact that 700 Commerce Drive will continue to serve the company well for the long term,” remarks Sevim. “The new lease arrangement is a real win-win. Middough will attain modified lease terms and gain signage rights that were previously unavailable to them. Principal will enjoy the benefit of a long term commitment from their largest tenant.”
About Middough Inc.
For more than 60 years, Middough Inc. has been recognized for its performance and leadership
as an international company in engineering,and management services. With major
offices in Cleveland, Chicago, Houston, Philadelphia, and Toledo and additional offices
nationally comprising more than 800 professionals, Middough provides a full-range of
traditional and specialized design, technical, and management services worldwide in 9
industries. For more information about Middough, visit www.middough.com.
Studley is the leadingglobal commercial real estate services firm specializing in tenant representation. Founded in 1954, Studley pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, with over 60 offices worldwide, Studley provides strategic real estate solutions to top-tier corporations, not-for-profit organizations and law firms. For more information, please visit www.studley.com.