The Greektown submarket continues to be an area of brisk activity. Crayton Advisors paid $18M for an eight-story building on West Jackson and will close on a $35M deal in Q1 2016.
Crayton bought the 175k SF loft office building at 820 W Jackson last month from Marc Realty. The group previously bought 833 W Jackson and 322 W Green from Urban Innovations in June.
Crayton managing partner John Abell says his group plans to spend $200M on office and multifamily buildings in the West Loop, South Loop and Central Loop under a new brand. Crayton's biggest Greektown deal is a few months away. It's in negotiations to acquire 850 W Jackson and three adjacent parking lots for $35.5M, with plans to build apartment buildings there. [Crain's]
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