I continue to be flabbergasted at the number of new businesses and restaurants moving into the West Loop, especially in Fulton Market, despite the large number of remaining food processing plants remaining that share the space. If you walk down Fulton St in the late afternoon, you still have to evade being splashed by bleach, or stepping on raw chicken bits. The old companies haven’t been forced out yet, in other words. It isn’t a sleek, modern neighborhood by any stretch of one’s imagination. The sidewalks are often cracked, if available at all, the train tracks are a scant couple of blocks away – with accompanying noise and diesel fumes – and yet…
NAI Hiffman represented Drapac Group, an Australian-based company with U.S. headquarters in Los Angeles, in its new lease with event planner, The Revel Group, at 1215 W. Fulton St. in Chicago. Drapac closed on the 36,730-square-foot building purchase on Dec. 31; the new lease was completed just 10 days earlier. “The collective goal of our team was to secure a tenant and stabilize the asset prior to closing,” said Kelly Disser, vice president with NAI Hiffman’s industrial services group. “The transaction was a great success for Drapac as it enters a popular Chicago market.”
The activity reflects the growing transformation of Chicago’s West Loop neighborhood as dozens of office, residential, hotel and restaurant developments are underway, including: the makeover of the Fulton Market Cold Storage Building that will be anchored by Google, a Nobu hotel and restaurant on Randolph Street, and Soho House on Green Street. 1215 W. Fulton offers a premium West Loop location on the southwest corner of Fulton Street and Racine Avenue. The property includes a 30,862-square-foot warehouse with office space and a fenced and secured parking lot.
(click here to continue reading Drapac acquires, leases 36,730-square-foot West Loop property | REJournals.com.)
This made me chuckle:
In 2010, Drapac Group USA was established with a head office in Los Angeles to invest in the rapidly rebounding US real estate market, and capitalise on the unprecedented real estate opportunities that were created as a result of the Global Financial Crisis.
(click here to continue reading Drapac Australia » Home.)