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Readystate Asset Management moves to Fulton Market, doubles office footprint
The firm, founded by Citadel veterans, is leasing 13,000 square feet from Sterling Bay
Readystate Asset Management is doubling down on Fulton Market.
The Chicago-based alternative asset management firm is leasing 13,000 square feet of office space from Sterling Bay at 360 N Green, the parties told The Real Deal. The firm is already leasing 8,000 square feet at 936 W Fulton Market.
Ari Klein and Scott Shelbourne with Cushman & Wakefield represented Readystate. Sterling Bay’s Daniella Hemsley and Dave Gloor negotiated the transaction on behalf of Sterling Bay.
Andy Gloor, CEO of Sterling Bay, said in a statement that Fulton Market continues to outperform the rest of the Chicago office market — allowing the neighborhood to attract businesses like Readystate.
“360 N Green is the first building in Fulton Market to push the neighborhood’s boundaries north of the Metra tracks, creating a pathway for future development and increased economic growth for years to come.”
The building is a 500,000-square-foot,26-floor office tower designed by architecture firm Gensler and Sterling Bay Design Studio. The office tower is currently under construction, with delivery expected in 2024. It is over 70 percent pre-leased.
Readystate, a multi-strategy hedge fund, was founded in 2021 by David Grossman and Ryan Garino, former Co-Heads of Global Credit at Citadel.
Andrew Hwang, COO of Readystate, said the firm is dedicated to an in-office work culture, and with the team continuing to grow, it’s in need of the extra space 360 N Green can offer.
Other tenants who have signed on include Boston Consulting Group, Greenberg Traurig and Adalina Restaurant Group, which will open a restaurant within the ground floor retail space.
This isn’t the only Fulton Market development in the works for Sterling Bay. In September, the developer proposed a new 29-story apartment tower at 370 North Carpenter Street. The project —set to rise on the site of a 10,400-square-foot building that Sterling Bay acquired for $4 million in 2013 — will contribute to the ongoing transformation of the former meatpacking district into a hub of corporate offices, upscale hotels and dining establishments.