Chicago, Illinois – Alvarez & Marsal Property Investments (AMPI), (AMPI) is pleased to announce that the commercial real estate investment firm has completed three transactions totaling 72,230 square feet to bring three exciting new tenants to Fulton West, the firm’s 121,000-square-foot property at 1320 W. Fulton Street in Chicago’s Fulton Market District. Reflecting the property’s authentic character and hands-on ownership group, as well as the enduring vibrancy of the Fulton Market District submarket, Fulton West has now backfilled all the occupancy lost during the height of the pandemic’s impact to the office market.
AMPI is pleased to welcome the following tenants to Fulton west:
Matt Pistorio and Adam Pines of Madison Rose represented AMPI in each transaction.
“We are excited to welcome these tenants to our property and help add to the Fulton Market District’s reputation as a destination for businesses to thrive,” said Michael Marsal, Founding Partner, Managing Director of AMPI. “Fulton West’s authentic character and grit combined with its close proximity to a whole host of restaurants and hotels make it a great place for each business to call home.”
Fulton West’s building structure features brick and timber construction, warehouse-style windows and prominent exterior tenant signage opportunities. Tenants have access to private outdoor courtyard space, on-site parking and the LifeStart fitness and Fulton West amenity center at 1330 W. Fulton.
“Fulton West is the last remaining authentic brick-and-timber option in the submarket and one of Chicago’s few creative loft spaces of this this size," said Adam Pines, Vice President at Madison Rose. "On a gross rent basis, Fulton West is as much as $20 per square foot less expensive than neighboring buildings. Overall, the uniqueness of 1320 W. Fulton Street and the scarcity of nearby product in our price range make the property stand out.”
This Spring, the project management team of AMPI’s affiliate Alvarez & Marsal Property Solutions completed the renovation of several of the property’s office suites, a new private entrance at 1320 W. Fulton and exterior murals commissioned by renowned local street artist Lauren Asta. A half dozen new high-end apartment complexes and mixed-use properties have been recently announced or opened in proximity to Fulton West, which combined with well-known office occupiers and acclaimed restaurants and entertainment in the Fulton Market District continue to drive interest in the property.
“FBN has a strong connection with Chicago, a city at the crossroads of ag and ag commodity markets,” said Nadine Gibson, Vice President Facilities and Workplace, Farmers Business Network. “This space at 1320 W. Fulton Street in Chicago’s Fulton Market District will enable us to access Chicago's amazing talent market as we continue to grow and the relationship with Alvarez provides us room for growth. FBN is creating new jobs at a fast pace, and Chicago is one of our hiring markets of choice.”
“Chicago is nationally recognized as the hub of freight logistics, so as we continue our immense growth trajectory as a company, it is imperative we strategically position ourselves in this thriving Chicago submarket,” said Geoff Kelly, President of Nolan Transportation Group regarding the company’s recent expansion to Fulton West. “This relocation allows us to build a space that reflects our evolution as a business while providing a home base that encourages collaboration and rewards excellence with differentiated amenities for both our current employees and future recruits.
“Fulton Market has been part of an ascension in growth unlike any other submarket in the city over the last several years and to create a space and plant our flag within the heart of the most dynamic neighborhood in Chicago, feels like the perfect fit for both who we are today and who we want to continue to evolve to as a company in the future.”
For more information on Fulton West, including leasing opportunities, click here.
About Alvarez & Marsal Property Investments
Alvarez & Marsal Property Investments (AMPI) is a vertically integrated commercial real estate firm founded in 2013. A privately owned subsidiary of Alvarez & Marsal Inc., AMPI features a portfolio of more than 1.5 million square feet of mixed-use, office and retail properties. AMPI’s investment strategy is to acquire, own and operate core investment assets in markets that possess a combination of economic growth, technology output and lifestyle characteristics that will drive sustained occupancy and tenant demand.