Skender Completes New Fulton Market HQ for Harrison Street Asset Management

Why this matters

The completion of Harrison Street Asset Management’s new headquarters in Chicago’s Fulton Market underscores the ongoing institutional commitment to urban office environments, even amid broader sector uncertainties. Fulton Market remains a focal point for capital-intensive office developments, reflecting investor confidence in the submarket’s long-term fundamentals despite macroeconomic headwinds. For a real estate and infrastructure investment manager to consolidate operations into a newly built, sizeable HQ signals a strategic bet on the durability of office demand in a prime location, as well as a commitment to place-based asset management. This move also highlights the continued flow of capital into office repositioning and build-to-suit projects, which require lender confidence in project viability and tenant creditworthiness. It suggests that, while the office sector faces challenges, select institutional players are still willing to deploy capital behind high-quality, well-located assets that can serve as operational hubs. For allocators and lenders, this development may reinforce the bifurcation within the office market—between trophy, amenitized urban offices and more vulnerable secondary assets—and the importance of underwriting tenant and submarket strength in underwriting decisions.

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