New York real estate developer Thor Equities announced today the completion of a deal to buy the John R. Morreale Meat buildings at 816-820 W. Fulton Market and 216-226 N. Peoria Street. Morreale—one of the area’s largest and oldest meatpackers—got $36.1 million for the properties. According to Thor, the company plans to incorporate the vacant warehouses along Peoria Street into new a five-story mixed-use development as well as renovate the existing building at the northeast corner of Green and Fulton into new office and retail space.
This stretch of Fulton is particularly hot, virtually surrounded by upcoming developments including Brooklyn Bowl, a flagship retail space from R2, and a seven-story office building from Shapack Partners. Crain’s initially revealed that Thor was interested in acquiring the Morreale properties in January of this year. The NY firm owns additional Fulton Market assets including 1229 W. Randolph, 905 W. Fulton, 942 W. Fulton, and 230 N. Peoria.
- New York firm betting $50 million on Fulton Market retail [Crain’s]
- Fulton Market archive [Curbed Chicago]