Sterling Bay Puts 1K Fulton For Sale
The most-hyped Chicago office redevelopment in recent memory is on the market. Sterling Bay is seeking bids for 1K Fulton, home to Google's Midwest HQ and the project that epitomizes the red-hot Fulton Market development game.
Sterling Bay paid $12M for the former Fulton Market Cold Storage building in 2011, just as the landmark district was poised to become the city's next big thing. It refinanced the debt on the property with a $220M loan from Mesa West last year, Crain's reports.
Bids on the building could reach as high as $300M. Other tenants include bicycle parts manufacturer SRAM, Sandbox Industries and Swift & Sons steakhouse. [Crain's]