Friday, May 15, 2020

Thor Equities Group Announces Sale Of 905 West Fulton Market in Chicago, IL To Deka Immobilien of Germany


905 West Fulton Market spans nearly 98,000 square feet over five stories and a basement on the corner of West Fulton Market and North Peoria Street in the heart of Fulton Market, Chicago, IL.

Tom Sitz
CHICAGO, IL (May 15, 2020) – Thor Equities Group, a global leader in urban real estate development, leasing and management, is pleased to announce the sale of 905 W. Fulton Market in an off-market transaction to Deka Immobilien.

On the corner of West Fulton Market and North Peoria Street in the heart of Fulton Market, 905 W. Fulton Market spans nearly 98,000 square feet over five stories and a basement.

Featuring a historic façade characteristic of the neighborhood and modern glass design, 905 W. Fulton offers contiguous floor plans, a landscaped terrace and green roof.

The property is anchored by Mondelez International’s global headquarters, which will occupy over 80,000 square feet of office space in the new building on floors two through five, as well as over 6,500 square feet of retail space on the ground floor.


Cody Hundertmark
 Thor recently announced 8,000 square feet of the ground floor was recently leased to DineAmic Hospitality, one of Chicago’s most eminent creative hospitality and events companies. Approximately 2,600 square feet on the ground floor remains available.

“Our vision for 905 W. Fulton Market was to develop a property with rich character representative of the neighborhood’s past and attract a world-class tenant to bolster the district's future as a premier live-work-play destination,” said Joe Sitt, chairman of Thor Equities.

“Fulton Market continues to gain momentum and the sale of this asset demonstrates the strength of the community, which we are very proud to be a part of.”

The Cushman & Wakefield capital markets team of Tom Sitz, Cody Hundertmark, David Knapp, Josh McGee, Paul Lundstedt and Dan Deuter was involved in this off-market transaction. Thor Equities was not represented by a broker. Colliers International was also involved in this transaction.


Driss Oualkadi
“In this current environment, it is essential to identify and secure opportunities in order to achieve stable and sustainable growth for our North America Fund. Such an opportunity is given with this long-term leased and high-quality property,” said Driss Oualkadi, president of Deka.

“The Fulton Market has been the subject of a significant urban renewal and is now recognized as one of Chicago’s most upscale and exciting neighborhoods.”

“We are pleased to have been involved in the sale of this extraordinary Fulton Market development involving two world-class organizations,” said Tom Sitz, executive director of Cushman & Wakefield.


 David Knapp
“Congratulations are in order to Thor Equities Group for delivering this premier building to the market and to Deka on its acquisition of one of Chicago’s newest, best-in-class assets.”

Thor Equities Group recently announced a lease with Aspen Dental at nearby 800 W. Fulton Market, a 19-story mixed-use development with over 400,000 square feet of office and retail space, as well as a range of public amenities.

Designed by Skidmore, Owings & Merrill, 800 W. Fulton Market is situated at the gateway to Fulton Market and was planned to meet the highest sustainability standards, with a range of smart building technologies.

Thor’s portfolio also includes nearby 942 W. Fulton Market, 1003 W. Fulton Market and 1229 W. Randolph Street.


Josh McGee

About Thor Equities:

Thor Equities is a leader in the development, leasing and management of office, industrial, residential, hotel and mixed-use assets in premier urban locations worldwide.

The company operates in major cities around the globe and has a property portfolio totaling $20 billion with a development pipeline in excess of 50 million square feet.

Thor has a strong presence on three continents and in addition to its US holdings, the company has assets in European gateway cities including London, Paris, Madrid, and Milan, and is the largest developer in Mexico through its Latin American division with a development pipeline of over 18 million square feet.


Paul Lundstedt 
 Thor maximizes returns for institutional investors by recognizing a property’s potential, reducing operating expenses, increasing tenant satisfaction, leveraging market trends to maintain a long-term competitive edge.


About Deka:

DekaBank is the Wertpapierhaus (securities services provider) of the German Savings Banks Finance Group.

Together with its subsidiaries it forms Deka Group, which has total customer assets of around EUR 313 billion (as at 30/09/2019) and around 4.8 million securities accounts, making it one of the largest securities services providers and real estate asset managers in Germany.


Dan Deuter
 It provides retail and institutional clients access to a wide range of investment products and services. 

DekaBank is firmly anchored in the Sparkassen-Finanzgruppe and designs its portfolio of products and services to meet the requirements of its shareholders and sales partners in the securities business.

The Deka Group’s global real estate expertise is pooled in its Real Estate Division.

 The two investment companies, Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH, manage and service around EUR 40 billion in real estate assets (as at 31/12/2019).



CONTACTS:

Bailey Webb, bailey.webb@cushwake.com

follow @CushWake on Twitter.


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