Thor Equities lands anchor tenant for spec Fulton Market office tower

Aspen Dental Management will take nearly 200K sf

Chicago /
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

arrow_forward_ios
Angelo Gordon sells North Side retail assets for $46.3M
Angelo Gordon sells North Side retail assets for $46.3M
Angelo Gordon sells North Side retail assets for $46.3M
Chicago’s Old Post Office nabs health care firm as new tenant
Chicago’s Old Post Office nabs health care firm as new tenant
Chicago’s Old Post Office nabs health care firm as new tenant
Buckhorn Estates in Des Plaines (Google Maps)
Denver firm buys two suburban Chicago mobile home parks for $43M
Denver firm buys two suburban Chicago mobile home parks for $43M
The WGN-TV building and Hines CEO Jeffrey Hines (WGN-TV, Hines)
Hines pays about $31M for WGN-TV studio
Hines pays about $31M for WGN-TV studio
800 West Fulton Market and John Deere CEO John May (800 West Fulton Market, John Deere)
John Deere set to bring jobs to Chicago with Fulton Market lease
John Deere set to bring jobs to Chicago with Fulton Market lease
Alderman George Cardenas (12th Ward Chicago, Getty)
Alderman Cardenas proposes ordinance to allow city to buy Chicago Bears
Alderman Cardenas proposes ordinance to allow city to buy Chicago Bears
The Archer Daniels Midland mill and a rendering of the apartment that will take it's place (WikiMedia / Tdl1060, Sterling Bay)
Apartment towers planned for Fulton Market site of 19th-century flour mill
Apartment towers planned for Fulton Market site of 19th-century flour mill
TPG buys Cinespace, home of TV’s “Chicago Fire,” “Chicago Med”
TPG buys Cinespace, home of TV’s “Chicago Fire,” “Chicago Med”
TPG buys Cinespace, home of TV’s “Chicago Fire,” “Chicago Med”
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...