Creative Office Building Breaks Ground as Gateway to Chicago’s Historic Fulton Market District

Creative Office Building Breaks Ground as Gateway to Chicago’s Historic Fulton Market District

CHICAGO, Oct 30, 2019 – Global real estate leaders and joint venture partners Thor Equities and QuadReal, together with leading real estate services firm, Cushman & Wakefield, and global design firm Skidmore, Owings & Merrill, introduced the city to 800 W Fulton on Tuesday, with an official groundbreaking ceremony. The project was dedicated by Chicago Alderman Walter Burnett, Jr., (Ward 27) along with executive leadership from the groups involved in the project.

Located at the eastern entrance to the historic Fulton Market district at 800 W. Fulton Market, the soon-to-be 19-story mixed-use building is designed to enrich its setting with a lively program of public and commercial spaces. The trophy property is expected to activate the burgeoning neighborhood with more than 450,000 square feet of office space, public amenities, retail and food and beverage outlets.  Occupying a full city block, bounded by North Green, West Fulton Market, Wayman, and Halsted streets, the project is carefully proportioned to respect and relate to the rhythm, scale, and streetscape of the vibrant Chicago West Loop neighborhood. Designed to meet the highest sustainability standards credentials, the project is targeting both LEED Platinum and the WELL Building Standard certification.  800 W Fulton is slated to open in spring of 2021.

“We are thrilled to begin construction on 800 W Fulton, one of the most highly anticipated new developments in Fulton Market,” said Thor Equities Chief Operating Officer Melissa Gliatta. “Perfectly fusing together Fulton Market’s past and present, the project places an emphasis on sustainability and features a distinctive look that is representative of the district’s historic past. Together with our partner Quadreal, SOM, Cushman & Wakefield, and all of the parties involved, we are proud to see this project come to life and look forward to what the future holds for Fulton Market.”

This mixed-use building is defined by a varied façade that cascades down to match the existing street level. The stepped terraces allow the tower to gracefully address the scale of Fulton Market Street, maintaining a consistent eye line and achieving a slender tower profile.

“Our goal with this design is to truly create a gateway into the historic Fulton Market District, with a space that would integrate seamlessly and uniquely into the fabric of this burgeoning neighborhood,” said Brian Lee, Consulting Design Partner with Skidmore, Owings & Merrill.  “Each of the setbacks offers generous outdoor terraces for the office tenants, providing a range of outdoor amenities and plantings. Along Fulton Market Street, the podium contains protected balconies that overlook the neighborhood, enforcing the neighborhood aesthetic.” 

“Our research-based approach and experience draws us to the dynamic Fulton Market area,” said Jonathan Dubois-Phillips, President, International Real of QuadReal.  “A diverse group of companies are adopting Fulton Market as their new home, enhancing its growth and reinforcing why this location offers it all to tenants: a diverse community in which to work, live and play.”   

“Even before breaking ground, we’ve seen tremendous interest from a diverse array of potential tenants, both locally and nationally, looking to be a part of this soon-to-be iconic address located at Fulton Market’s gateway,” said Jack McKinney, Jr., Managing Director, Cushman & Wakefield, who is handling office leasing for the property. “Fulton Market has become Chicago’s new center for brand reinvention and 800 W Fulton will be the neighborhood’s most architecturally distinctive building, establishing a new standard for the next generation office experience through a highly thoughtful integration of smart building technology, amenities, sustainable construction, green space and world-class views.”

Fulton Market was recently designated one of the top 20 “Cool Streets in North America” by Cushman & Wakefield, to go along with Time Out Magazine naming it number 18 on its 2018 list of the “Coolest Neighborhoods in the World” and Forbes including the submarket on its list of the “12 Coolest Neighborhoods in the World” the same year.

About Thor Equities:

About Thor Equities Group: Thor Equities is a leader in the development, leasing and management of office, industrial, residential, hotel and mixed-use assets in premier urban locations worldwide. The company operates in major cities around the globe and has a property portfolio totaling $20 billion with a development pipeline in excess of 50 million square feet. Thor has a strong presence on three continents and in addition to its US holdings, the company has assets in European gateway cities including London, Paris, Madrid, and Milan, and is the largest developer in Mexico through its Latin American division with a development pipeline of over 18 million square feet. Thor maximizes returns for institutional investors by recognizing a property’s potential, reducing operating expenses, increasing tenant satisfaction, leveraging market trends to maintain a long-term competitive edge. For more information, visit www.thorequities.com.

About QuadReal:

Headquartered in Vancouver, Canada, QuadReal Property Group is a global real estate investment, operating and development company.  QuadReal manages the real estate and mortgage programs of British Columbia Investment Management Corporation (BCI), one of Canada’s largest asset managers with a $153.4 billion portfolio.

QuadReal manages a $37.6 billion portfolio spanning 23 Global Cities across 17 countries.   The company seeks to deliver strong investment returns while creating sustainable environments that bring value to the people and communities it serves.  Now and for generations to come.

QuadReal: Excellence lives here. www.quadreal.com

About Skidmore, Owings & Merrill LLP

Skidmore, Owings & Merrill (SOM) is an influential collective of architects, designers, engineers and planners, responsible for some of the world’s most technically and environmentally advanced buildings, and significant public spaces. From a strategic regional plan to a single piece of furniture, SOM’s designs anticipate change in the way we live, work and communicate, and have brought lasting value to communities around the world. The firm’s approach is highly collaborative, and its interdisciplinary team is engaged on a wide range of international projects, with creative studios based across the globe.

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 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services.