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Cushman & Wakefield Represents Sterling Bay and J.P. Morgan Asset Management in the Sale of Class A Office Building in Chicago
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Rhea-AI Summary
Cushman & Wakefield (NYSE: CWK) announced its successful representation of Sterling Bay and J.P. Morgan Asset Management in the sale of 210 N. Carpenter in Chicago's Fulton Market District. This recently constructed, fully leased 12-story Class A office building boasts modern amenities and certifications including LEED Gold. The sale highlights continued investment interest in downtown Chicago, particularly in the Fulton Market area, according to comments from Tom Sitz.
Positive
Successful representation in the sale of a prime office building.
210 N. Carpenter is fully leased to six tenants, indicating strong market demand.
Building includes modern amenities and is LEED Gold Certified, appealing to environmentally conscious investors.
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CHICAGO--(BUSINESS WIRE)--
Cushman & Wakefield (NYSE: CWK) announced that the commercial real estate services firm has represented Sterling Bay, the Chicago-based real estate investment and development firm, and institutional investors advised by J.P. Morgan Asset Management in the sale of 210 N. Carpenter in Chicago’s Fulton Market District.
Tom Sitz, David Knapp, Cody Hundertmark, Dan Deuter and Paul Lundstedt of Cushman & Wakefield represented Sterling Bay and J.P. Morgan Asset Management in the sale to Deka Immobilien, a German investment firm.
The recently constructed 12-story, Class A office building is at the center of Fulton Market, a thriving live-work-play neighborhood and bustling tech hub. It is fully leased to six tenants. Completed in 2019, 210 N. Carpenter is LEED Gold Certified, WELL Health-Safety Certified and features state-of-the-art amenities including flexible floor plans, floor-to-ceiling windows, a rooftop pool, tenant lounge and gaming area, full-service fitness center and locker rooms, a programmed yoga room, conference facilities and on-site parking.
“The sale of this trophy office asset is further evidence that downtown Chicago, and Fulton Market specifically, remains a prime destination for the world’s largest and most sophisticated investors,” Sitz said.
210 N. Carpenter was developed by Sterling Bay. Solomon Cordwell Buenz served as architect of record; interiors were designed by IA Interior Architects; and the general contractor was Leopardo Companies.
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 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
What is the significance of the sale of 210 N. Carpenter for CWK?
The sale demonstrates CWK's effectiveness in facilitating significant real estate transactions, reinforcing its position in the commercial real estate sector.
Who were the parties involved in the sale of 210 N. Carpenter?
The sale involved Sterling Bay, J.P. Morgan Asset Management, and the buyer Deka Immobilien.
What type of building is 210 N. Carpenter?
210 N. Carpenter is a 12-story Class A office building located in the Fulton Market District, fully leased to six tenants.
What certifications does 210 N. Carpenter have?
The building is LEED Gold Certified and WELL Health-Safety Certified, indicating high sustainability and health standards.
