New York, NY – Alvarez & Marsal Property Investments (AMPI) announced that is has acquired a portfolio of office buildings located at 300, 316 and 320 N. Elizabeth Street in Chicago’s emerging Fulton Market neighborhood.
AMPI purchased the 160,000-sq.-ft. creative office portfolio from Sterling Bay in August 2017. The building is 96 percent leased to tenants including The Federal Savings Bank and Mosaic and connects a brand new state of the art parking garage and fitness center. The properties are well-situated within a short walk of five subway stations, Chicago’s famous restaurant row and a vibrant collection of art galleries. Many large employers, including, Google, McDonald’s and Dyson have recently opened offices in this up and coming area that has announced itself in a very big way.
“We are incredibly happy with this purchase. The building has a tremendous tenant roster and its beautiful brand-new courtyard surrounded by local hotspots will make it an even more desirable place to work,” said Victor Alvarez, founding partner and vice president of AMPI. “Additionally, Fulton Market continues to grow as a live-work-play neighborhood, with several other large players announcing projects nearby, which will add to the attraction for creative tenants.”
AMPI is no stranger to the Chicago market, owning real estate totaling more than 700,000 sq. ft., including 205 West Wacker Driver (future home of highly anticipated food hall Wells Street Market), 205 West Randolph Street and 303 West Erie Street.
About Alvarez & Marsal Property Investments
Alvarez & Marsal Property Investments, LLC (AMPI) is a wholly-owned investment vehicle of Alvarez & Marsal, Inc. Uniquely positioned due to its size and close relationship with Alvarez & Marsal, a leading global professional services firm, AMPI has the support of a large company with the mobility of a boutique firm benefitting from creative debt and capital financings, broad relationships, and a deep heritage of honesty and integrity.