CHICAGO, IL – ASB Real Estate Investments and Madison Capital announced today the signing of Aesop, the international skin care retailer, to a 10-year retail lease at 936 W. Fulton Market, part of the venture’s $26 million redevelopment of four buildings in Chicago’s historic Fulton Market meatpacking district into premium mixed-use retail and office space.

Aesop was established in Melbourne, Australia in 1987 and offers skin, hair, and body care products of the finest quality. Aesop investigates widely to source plant-based and laboratory-made ingredients, and uses only those with a proven record of safety and efficacy. In each of Aesop’s unique stores, informed consultants prescribe formulations suited to skin types and individual concerns. The company has offices and stores throughout the U.S. and the world, including New York, London, Paris, Tokyo, and Hong Kong.

Anthony Campagni, Steve Schwartz and Elan Rasansky of RKF represented both the ownership and Aesop.

In March of 2015, ASB and Madison Capital acquired four properties comprising approximately 99,600 square feet of space, within two blocks of each other in the Fulton Market neighborhood and extensive renovation efforts are currently in progress. The projects seek to meet increasing tenant demand in this rapidly transforming West Loop district where Google has a 750-employee office and McDonald’s has committed to relocate its 2,000-employee headquarters in 2018. In addition to the 936 W. Fulton Market property, the ASB-Madison portfolio includes 939 W. Fulton Market, 312 N. Carpenter St. and 328 N. Carpenter St., all of which are located within short walking distance of Google’s headquarters and the Lake/Morgan CTA Station. The venture previously signed an office lease with iCrossing, Inc., a global digital marketing agency and subsidiary of Hearst Corporation, for two floors of office space at 312 N. Carpenter St. in which it was represented by Alexander Smith of Cushman and Wakefield.

Nick Franzetti, Senior Vice President and Mid-Atlantic Head of Investments: “As part of our thesis for investing in Fulton Market, we believe the neighborhood will continue to draw notable businesses like Aesop and iCrossing because of its irreplaceable authenticity and vibe, and its proximity to Chicago’s CBD. In particular, this former meatpacking district is quickly becoming Chicago’s most exciting 24-hour neighborhoods with a robust pipeline of new office, apartments, trendsetting hotels, and flagship storefronts and restaurants catering both to smaller tech tenants as well as Fortune 500 businesses and their employees.”

About Madison Capital
Madison Capital is a leading real estate investment and operating company focused on acquiring and repositioning superior urban retail and mixed-use assets in dynamic markets including New York, Chicago, Miami, and other gateway cities.

About ASB Real Estate Investments
ASB Real Estate Investments (ASB), a division of ASB Capital Management, LLC, is a leading U.S. real estate investment management firm with $7 billion* in gross assets under management for over 360 domestic and international institutional clients. Headquartered in Washington DC, ASB invests in major urban markets across the country, concentrating in office, multifamily, retail and industrial properties. ASB manages the ASB Allegiance Real Estate Fund, its sole vehicle for core investing; the ASB Meridian Real Estate Funds, a series of low-leverage value creation vehicles; and a development separate account.

* as of September 30, 2016

The information provided in the release does not constitute an offer to sell or buy securities or the solicitation of an offer to sell or buy securities.