Shapack Partners is looking to cash out on a development site next to Bally’s planned $1.7 billion casino complex, possibly attracting a swarm of investors looking to capitalize on the highly anticipated casino project.
Jeff Shapack’s firm has hired JLL brokers to sell the 58,600-square-foot industrial building at 611 North Union Avenue, playing it up as a prime redevelopment opportunity, CoStar reported.
The site is across from a Shapack’s mixed-use development that’s slated for 2,269 apartments and a 141-key hotel.
Shapack purchased the site for $9 million in 2018. It’s unclear how much the firm expects to make in a sale.
