Thor Equities lands anchor tenant for spec Fulton Market office tower

Aspen Dental Management will take nearly 200K sf

Jan.January 30, 2020 01:00 PM
Rendering of 800 W. Fulton Market and Thor's Joe Sitt

Rendering of 800 W. Fulton Market and Thor’s Joe Sitt

Sometimes building on spec proves to be worth the risk. Just ask Joe Sitt.

Aspen Dental Management just inked a 14-year lease with Sitt’s development firm Thor Equities to take 197,000 feet at 800 W. Fulton Market, enough space to move at least 1,000 employees to the location. Not only did the company lease office space in the building, but it also took 8,000 square feet of ground-floor retail space, the Chicago Tribune reported.

The 19-story office complex is due to be completed in 2021. New York-based Thor and Canada-based QuadReal Property Group are developing the 467,000 square foot building, which has a staircase design running up the side. Thor landed a $144 million construction loan in December for the spec project.

Aspen Dental moved to Fulton Market less than two years ago but has already outgrown its space. The company manages nearly 780 dental practices in 42 states and has not said yet how many employees will move into the new space once it’s done.

Paul Reumond, Brad Serot and Tony Coglianese of CBRE represented Aspen Dental in the deal. Jack McKinney Jr., Mark Baby and Ben Cleveland of Cushman & Wakefield represented the developers.

[Chicago Tribune] — Jacqueline Flynn

Related Articles

Ald. Andre Vasquez (40th) and 5500 N. Wolcott Ave. (Credit: Google Maps)

Ald. Vasquez says Temple Steel campus won’t give way to luxury housing

A rendering of the Target warehouse at 3501 S. Pulaski Road and Target CEO Brian Cornell (Credit: Hilco Redevelopment, Target)

Target takes aim at massive warehouse in Little Village

Ald. Walter Burnett (27th Ward)

Proposed pot shop’s proximity to Fulton Market rehab center poses problems

From left: CEO and founder of CA Ventures Thomas Scott, CEOs of WeWork Sebastian Gunningham and Artie Minson, and a rendering of the building

WeWork has troubles, but it also has a new location in River North

Bridgford Foods plant at 170 N. Green St. & Clayco founder and Chairman Bob Clark (Credit: Google Maps)

Clayco buying prime Fulton Market property; redevelopment eyed

The Bolingbrook property along route 53 and Amazon CEO Jeff Bezos (Credit: Google Maps, Getty Images)

Amazon pays $51M for site of former Chicagoland amusement park

Jeff Bezos and the Old Wrigley gum factory at 3535 S. Ashland Avenue (Credit: Getty Images and Google Maps)

Chew on this: Former Wrigley gum factory pitched as potential Amazon warehouse

LG Development CEO Brian Goldberg and 1143 West Lake Street (Credit: LG Development and Google Maps) 

LG Development sets sights on 400-unit resi project in Fulton Market