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| Rendering of Planned Fulton West Phase II, Office Building, West Loop, Chicago, IL |
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| Michael Kavanau |
CHICAGO, IL –- Holliday
Fenoglio Fowler, L.P. (HFF) announced it has secured $78 million in
construction financing for the development of Fulton West Phase II, a nine-story, 290,699-square-foot, creative
office building in Chicago’s West Loop.
HFF worked on behalf of
the developer, a partnership comprising Sterling Bay and institutional
investors advised by J.P. Morgan Asset Management, to place the construction
loan with Bank of America.
Upon completion in 2017,
Fulton West Phase II will feature 261,129 square feet of creative office space
with 34,000 - 40,000-square-foot average floor plates, 18,429 square feet of
ground floor retail and a 610-stall parking facility.
Nearly half of the
building’s rentable square feet is leased to Glassdoor, Skender Construction
and Sterling Bay.
The building will
offer tenants a 24,000-square-foot landscaped courtyard, a 5,750-square-foot
roof deck with views of downtown, more than 11,000 square feet of private balcony
opportunities and a secure bike room.
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| Tim Joyce |
Situated at 1330 West Fulton Street, the
development has superior access to the entire Chicagoland area being located
less than one half of a mile from I-90, I-94 and I-290, Chicago’s primary
interstates.
Public transportation is accessible at the nearby
Ashland and Lake, and Morgan and Lake “L” stations. Additionally, shuttle service to the two
downtown commuter rail stations will be provided from Fulton West.
The HFF debt placement
team representing the borrower was led by senior managing director Michael Kavanau, managing director Tim Joyce and associate director Christopher Knight.
For a
complete copy of the company’s news release, please contact:
Kristen M. Murphy
Director, Marketing
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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