![US construction spending is up $37.8 billion year-to-date compared to 2019 (iStock)](https://static.therealdeal.com/wp-content/uploads/2020/10/ft-housing-demand-construction-spending-200x200.jpg)
Trending
$40M building could break Fulton Market records
Developer Fulton St. Cos. is testing the market
![1100 W. Fulton Market (Courtesy of Fulton St. Co.)](https://static.therealdeal.com/wp-content/uploads/2020/10/1200-40M-building-could-break-Fulton-Market-records.jpg)
A new Fulton Market building is on track to break a price-per-square-foot record if it sells for its full asking price.
The 45,380-square-foot building at 1100 W. Fulton Market by developer Fulton St. Cos has just entered the market for more than $40 million. That breaks down to about $881 per square foot, which would break the neighborhood’s all-time record, according to Crain’s.
That was set in May when a German real estate firm paid nearly $87 million — or $879 per square foot — for Mondelez International’s new headquarters at 905 W. Fulton Market.
“It was definitely a [property] we wanted to hold longterm, but it makes the most sense to see what the market will yield and go from there,” Fulton St. co-founder Alex Najem told Crain’s.
The furniture company Herman Miller signed a 15-year lease for the building, and is moving its offices and showroom there.
Read more
![US construction spending is up $37.8 billion year-to-date compared to 2019 (iStock)](https://static.therealdeal.com/wp-content/uploads/2020/10/ft-housing-demand-construction-spending-200x200.jpg)
![A former Bloomberg construction director pleads guilty to tax fraud after accepting bribes for employment (iStock)](https://static.therealdeal.com/wp-content/uploads/2020/09/ft-bloomberg-construction-director-fraud-200x200.jpg)
The market has been shaky in recent months as a result of the coronavirus pandemic. WeWork, for example, abandoned plans to open two locations in Fulton Market.
Days later, however, Marquette Companies, a Naperville-based development firm, secured construction financing for two rental projects on the west end of the Fulton Market District at 1400 and 1454 West Randolph Street.
[Crain’s] —Sasha Jones