ADM Puts Fulton Market Milling Plant On Market
Global food processing behemoth Archer Daniels Midland retained Cushman & Wakefield to market its wheat mill in Fulton Market to buyers as a redevelopment opportunity. What separates this site from others in Fulton Market is its size and location.
Cushman & Wakefield Senior Director Larry Goldwasser said the 2.2-acre site at 1300 West Carroll is in the western corner of Fulton Market proper and is the last large contiguous site in the market available for purchase. The mill's location will benefit from investor interest in Fulton Market's westbound push and proximity to developments like Dayton Street Partners' 1500 West Carroll and Sterling Bay's Fulton West. The site is home to 138K SF of building footprint, including a four-story building, a six-story building and grain silos.
The site's zoning can accommodate 473K SF of mixed-use redevelopment.
Goldwasser said there is no asking price on the site right now, and he would not comment on how high he expects bids to rise. ADM announced in June that it was closing the mill and moving to a new facility in Mendota, 100 miles west of Chicago. Goldwasser, Kathleen Nelson, Gregory Trusso and Michael Tenteris are representing ADM in the sale.
