Fulton Street Deepens Retail Focus with Broker Hire

Fulton Street Companies is doubling down on its bid to turn Chicago’s Fulton Market into a high-end shopping destination, tapping veteran broker Francis X. Scire as its new head of retail leasing.

The appointment comes as the former meatpacking district — already a magnet for top-tier office tenants and high-end residential development — begins to attract a new breed of retailer. While the neighborhood has mastered the restaurant scene, renowned apparel brands are now scouting the cobblestone streets, and landlords are scrambling to position their portfolios to capture the influx.

Scire will oversee leasing for Fulton Street’s entire Fulton Market portfolio, including the retail portion of the 409,000-square-foot office building under construction at 919 West Fulton Street, according to a press release. That development, anchored by Harrison Street Real Estate, has already secured leases with Gibsons Steakhouse and Equinox.

His arrival marks a calculated shift in strategy for Fulton Street. The firm last year toyed with a significant exit, hiring Newmark to test the market for a sale of its retail properties. But with no deal struck, the firm opted to hold, carrying its mortgage debt forward. The developer, which partnered with Chicago retail tycoon Fred Latsko on its retail properties, is now betting that a Scire-led leasing spree will drive further appreciation, effectively raising its bet on the neighborhood’s long-term value.

Scire brings a track record of high-profile leasing to the role. Most recently, he led leasing for Nora West Palm Beach in South Florida, the adaptive reuse district by NDT Development, Place Projects and Wheelock Street Capital. The project has become a magnet for New York exports, inking leases with buzzy tenants like Pastis, Le Labo, Warby Parker and Van Leeuwen.

His résumé also includes a stint at WS Development, where he spearheaded the revitalization of the Royal Poinciana Plaza in Palm Beach. During his tenure, Scire was instrumental in curating a luxury lineup that brought heavyweights Hermès and Cartier to the shopping center — a retailer caliber Fulton Street may be eyeing for Fulton Market.

“We’re focused on creating spaces that not only attract the world’s most coveted brands but also foster a sense of community,” Alex Nejem, CEO of Fulton Street, said in a statement.