Cushman & Wakefield Capital Markets Team Arranged Transaction for Trophy, Class A Office Asset in Fulton Market
CHICAGO–(BUSINESS WIRE)–Deka Immobilien has acquired 905 W. Fulton Market, a Class A, 98,000-square-foot office building, from Thor Equities, and selected Cushman & Wakefield (NYSE: CWK) to provide Property Management and retail Agency Leasing services for the property, which serves as the global headquarters of Mondelez International.
Cushman & Wakefield Executive Directors Tom Sitz and Cody Hundertmark, Executive Managing Director David Knapp and Managing Director Josh McGee arranged the off-market sale for the five-story trophy office building in the Fulton Market submarket. Thor Equities was not represented by a broker.
Cushman & Wakefield Executive Managing Director Greg Kirsch and Associate Sarah Delisi will lead retail leasing, while Kelly Thiede and Nicole Peters will lead property management. Cushman & Wakefield Managing Directors Mark Bâby and Ben Cleveland worked with Thor Equities to prelease the property’s office space, which included Mondelez International’s commitment.
“We are pleased to have been involved in the sale of this extraordinary Fulton Market development involving two world-class organizations,” Sitz said. “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.”
Added Victoria Noonan, Cushman & Wakefield Chicago Managing Principal, “We have been thrilled to be involved with 905 W. Fulton Market from the onset. Our involvement with this asset from inception with Thor Equities to the building sale to Deka and now the ongoing leasing and property management displays the depth and breadth of the platform to provide comprehensive investor services to our clients.”
Located on the corner of West Fulton Market and North Peoria Street, 905 W. Fulton features an historic façade characteristic of the neighborhood and modern glass design, as well as contiguous floorplans, a landscaped terrace, and green roof. The property is anchored by Mondelez, which leased 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, which also includes tenant Dineamic Hospitality, one of Chicago’s most eminent creative hospitality and events companies.
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 30/12/2019) and around 4.8 million securities accounts, making it one of the largest securities services providers and real estate asset managers in Germany. 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).
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
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