More Out-Of-Town Money Pouring Into Fulton Market

Publican Quality Meats, Chicago
Publican Quality Meats/Facebook

The Feil Org is the newest entrant into Fulton Market's flurry of activity, paying $35M for a group of retail assets from Sterling Bay.

Those buildings include popular establishments on Fulton Market and Randolph Street like Publican Quality Meats (pictured) and Starbucks' first Reserve shop in Chicago. Sterling Bay bought the buildings for a combined $14M between 2013 and 2014, according to Crain's. The ROI on this transaction is another sign that sellers are asking for—and receiving—pricing that would have been unthinkable a couple of years ago.

Sterling Bay remains Fulton Market's main player from both the acquisition/development and disposition perspectives. McDonald's expanded its footprint in the nine-story building Sterling Bay is building at the former Harpo Studios site. The firm is already at work on its $200M redevelopment of the former Coyne College campus. And let's not forget Sterling Bay's $257M sale of 1K Fulton to American Realty Advisors in July. [Crain's]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Chicago Newsletters
Related Stories

SFF Realty Partners Extends Spending Spree With $82M Acquisition In Downtown San Jose

Years Later, Millions In Chicago Housing Projects Remain Unbuilt

Drawbridge Realty Acquires 180K SF Office Building In Sunnyvale For $219M

Deutsche Bank Files $260M Foreclosure Suit For Broward County Mall

Downtown Los Angeles Retail, Office Hub The Bloc Up For Sale

Distress Divide: How Private vs. Institutional Investors Are Thinking About D.C. Office

Interest Rate Hike Douses Outlook For Atlanta Developers

Success Of Top-Tier Malls Masks Enduring Distress In Sector's Underbelly

Chicago Office Deals Feature More Scrutiny, Added Tenant Protections

Holographic Zoo Leases 51K SF Coconut Grove Building For First Location

Hines Spends $170.5M On Mixed-Use Portfolio In Dallas' Bishop Arts District

Tishman Speyer Retakes Chrysler Building, Plans $235M Renovation