A former meat processing facility in Fulton Market has beefed up redevelopment plans as a San Francisco-based investment company just announced it'll be joining collaborative workspace provider WeWork and locally-based Shapack Development and AJ Capital Partners to transform 210-20 N. Green Street into boutique office and retail space.
Shorenstein Properties LLC confirmed the acquisition of the six-story, 83,000 square foot building in a press release Friday, citing plans to intend to "extensively renovate and reposition the property" with 19,000 square feet of retail space and 64,000 square feet of creative office space.
Shapack Development and AJ Capital Partners nabbed the 1893 structure back in July to the tune of $6.8 million, according to Crain's. The project's one of several that have turned up in the area lately, including Google's new digs and the Soho House hotel (also being developed by Shapack and AJ Capital). Amity Packing Co., which has occupied the building since 1974, will relocate.
Renovation work is set to be completed next year, according to the release, and WeWork has signed a lease to have all office space occupied by that time. The ground floor retail space is also available for lease. We'll see if the long-time beef and pork-packing facility can be the prime cut of real estate its developers want it to be.
·Shorenstein Invests in Chicago Mixed-Use Redevelopment Venture [Press Release]
·Soho House hotel developers plan office conversion nearby [Crain's]
·Soho House Check-In: Warehouse Conversion on the Move [Curbed Chicago]