Despite the effect of an ongoing pandemic, it seems investors and developers still have an eye on the Fulton Market neighborhood. According to published reports, an investor recently closed on a $20 million industrial property that will reportedly be turned into hundreds of new apartments.
A new office property is expected to break ground soon, as well. Together, reports suggest the two projects could benefit each other, giving office workers a place to live that’s in the same neighborhood and close to work.
Another one-million or so square feet of office space is under construction right now and should deliver by the end of 2020. Some investors are banking on the neighborhood’s long-term potential.
That’s why they snapped up property in the neighborhood years ago, hoping it would eventually pay off. An investor is reportedly in line to buy the McDonald’s headquarters, while a German-based group purchased another large property in the neighborhood earlier this year.