Fulton Street Companies is adding Equinox fitness to its latest Fulton Market project.
The high-end gym chain has inked a deal for 40,000 square feet at the 11-story building that’s under construction at 919 West Fulton Street, Crain’s reported. Once completed, the building’s first and second floors will house New York-based Equinox’s fifth Chicago gym, which is expected to open in 2026.
The 409,000-square-foot property is being developed in partnership with JDL Development and Shanna Khan. CBRE’s Todd Siegel negotiated the lease on behalf of Equinox, while Madison Rose brokers Matt Pistorio, Adam Pines and Abby McFadyen represented the developers.
The developers secured a $233 million debt package last year from lender Bank OZK, with Toronto-based financial services group Manulife also contributing a mezzanine portion of the loan.
The lease comes as more than 2,000 new apartments have been built or are under construction in the area, according to Integra Realty Resources.
“With the number of apartments planned and already delivered, and an influx of residents, it’s the perfect time to introduce a facility that caters to their fitness needs.” Fulton Street Companies CEO Alex Najem said.
Equinox finalized negotiations for the Fulton Market location in May. Stephen Ross’ Related Companies is a major investor in Equinox, which previously planned to take space at Related Midwest’s mixed-use project at 725 West Randolph Street. However, that development shifted focus to apartments and office space with no major retail component.
Other tenants with leases at 919 West Fulton Street include Harrison Street Real Estate Capital, which inked a deal for 100,000 square feet, and Gibsons Restaurant Group, which is set to open a location within the building.
— Andrew Terrell
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