Murphy Development plans office building near Google in Fulton Market

The $50M project is the latest looking to benefit from the tech giant’s Midwest HQ

Chicago /
Sep.September 28, 2018 10:00 AM

Murphy Development CEO John Murphy and renderings of 328 North Carpenter Street (Credit: MBRE)

Murphy Development plans a seven-story office building near Google’s Midwest headquarters, the latest project sprouting up around the technology company’s Fulton Market outpost.

Murphy is buying the former Sam’s Meat warehouse at 328 North Carpenter Street from Venture Capital, and is taking over a planned 100,000-square-foot project on the site, according to Crain’s. The building would also include 10,000 square feet of ground-floor retail and a 9,000-square-foot rooftop deck.

CEO John Murphy said the acquisition and construction costs would total $50 million.

A number of other developers plan office projects around the Google property. Developer Mark Goodman wants to build a 12-story, 268,000-square-foot office property just east at 310 North Sangamon Street, while construction firm Summit Design + Build is putting up a five-story office building at 1040 West Fulton Street.

Sterling Bay has a project in the works across the street from Google at 345 North Morgan Street, where it aims to build a movie theater, and just bought property immediately north of Google at 1000 West Carroll Avenue for $20 million.

The Fulton Market project is among several irons in the fire for Murphy, most notably its role as lead developer on the former Cook County Hospital redevelopment. [Crain’s] — John O’Brien

 

Related Articles

arrow_forward_ios
From left: DL3 Realty’s Leon Walker, Discover’s Roger Hochschild, Mayor Lori Lightfoot, and 8560 South Cottage Grove Avenue. (DL3, Discover, Getty, Google Maps)
DL3 Realty signs Discover to big South Side lease
DL3 Realty signs Discover to big South Side lease
Blackstone’s Jonathan Gray and CenterPoint CIO Jim Clewlow with one of the properties, 225 Spring Lake Drive, Itasca (Getty, Linkedin, Google Maps)
Blackstone expands industrial reach with $151M Chicago buy
Blackstone expands industrial reach with $151M Chicago buy
(Arlington Park, Google Maps)
Churchill Downs looks to sell 326-acre Arlington Park race track
Churchill Downs looks to sell 326-acre Arlington Park race track
Chicago this week raised indoor dining to 40% of a venue's capacity. (iStock)
Filling up: Chicago boosts indoor dining capacity
Filling up: Chicago boosts indoor dining capacity
Photo illustration of the Silver Lake Country Club (Silver Lake CC, iStock/Illustration by Kevin Rebong for TRD)
Orland Park golf club hits market as residential redevelopment
Orland Park golf club hits market as residential redevelopment
Sterling Bay’s Andy Gloor (right), JPMorgan’s Jamie Dimon and 370 North Carpenter Avenue in Fulton Market, one of two properties the companies are selling. (Sterling Bay; Getty; Google Maps)
Sterling Bay and JPMorgan test appetite for redevelopment
Sterling Bay and JPMorgan test appetite for redevelopment
Sterling Bay CEO Andy Gloor and Prudential Plaza (Getty)
Sterling Bay sues Tribune over $5M in skipped rent
Sterling Bay sues Tribune over $5M in skipped rent
Berkadia CEO Justin Wheeler with Moran & Co.'s Tom Moran (Getty)
Berkadia picks up longtime multifamily brokerage
Berkadia picks up longtime multifamily brokerage
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...