Deka Immobilien buys Class A office building in Chicago

Deka Immobilien buys Class A office building in Chicago
Photo : Courtesy of Thor Equities

German real estate firm Deka Immobilien has acqıuired 905 W. Fulton Market, a Class A, 98,000-square-foot office building in Chicago, from Thor Equities, said Cushman & Wakefield in a press release. The purchase price was not disclosed, but the property reportedly sold for $85 million.

Deka Immobilien has selected Cushman & Wakefield 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.

“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.”

“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,” added Victoria Noonan, Cushman & Wakefield Chicago Managing Principal.

The Class A office building, located on the corner of West Fulton Market and North Peoria Street in Chicago, 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.