Thor Equities Group, a global leader in urban real estate development, leasing and management, has leased 905 W. Fulton Market in Chicago to Mondelez International. The leading global snacks company signed a 15-year deal for all 77,100 square feet of office space in the five-story building for its new global headquarters, along with 6,150 square feet of retail space.
“We are pleased to welcome Mondelez International to Fulton Market, which is continuing its transformation into one of the most sought-after areas in the country for prime office and retail space,” said Joseph Sitt, chairman of Thor Equities Group.
Once populated by cold storage facilities and wholesale meat companies, Fulton Market is today filled with popular restaurants, boutique hotels, residential buildings, art galleries and creative firms, along with major companies such as Google, Uber and the new corporate headquarters of McDonald’s.
Mark Bâby and Ben Cleveland of Cushman & Wakefield represented Thor Equities Group in the transaction. Kyle Kamin and Chris Reynolds of CBRE represented Mondelez.
“The brick and timber loft-style building at 905 West Fulton Market was an ideal headquarters opportunity for Mondelez’s relocation from Deerfield,” Bâby said. “Working with Mondelez’s needs, Thor structured an attractive office solution that benefited both parties. Mondelez’s occupancy will be accretive to the Fulton Market revitalization and a catalyst for Thor’s new development planned at 800 West Fulton.”
Other recent additions to the neighborhood include ACE Hotel, Beatrix, Shake Shack and Punch Bowl Social, as well as retailers Aesop, Free People, Lululemon and Anthropologie.
905 W. Fulton Market features three distinct facades, contiguous floor plates, a landscaped terrace and green roof, as well as 300 feet of retail frontage. Approximately 10,000 square feet of retail space remains available for lease in the building.
Thor Equities Group owns a number of properties in the Fulton Market area including 942 W. Fulton Market and 1003 W. Fulton Market, located across from Google’s new Chicago headquarters, as well as 1229 W. Randolph Street, 905 W. Fulton Market and 800 W. Fulton Market. The company also owns the historic Palmer House Hilton in Downtown Chicago.