Drapac Putting Fulton Market Building On Market
Here's the latest sign of investor confidence in Fulton Market: Atlanta-based Drapac Group hired NAI Hiffman to entertain bids for a building Drapac paid $2.7M for three years ago, and bids could reach the low eight figures.
The 37k SF building at 1201 W Fulton Market is fully leased to a catering company. Drapac bought the asset just as Fulton Market exploded as a real estate market. Bids for the building could reach as high as $17M, Crain's reports.
Fulton Market has been awash in activity in recent months. Thor Equities is looking to invest as much as $50M for properties in Fulton Market. Tucker Development and Acadia Realty paid $52M for a block of properties in the market last November, and will redevelop it into mixed-use retail. [Crain's]