A Chicago developer that converted a former industrial building just west of the booming Fulton Market district into offices for Barstool Sports and battery maker NanoGraf is looking to cash in on more than a decade of remaining lease term.

Shapack Partners has hired Cushman & Wakefield brokers to sell the 56,800-square-foot building at 400 N. Noble St., where the tenants have a weighted average lease term of almost 11 years, according to a brochure.

The offering comes amid a slowdown in deals throughout the country because of rising interest rates and other factors, particularly the hard-hit office sector.

But Shapack Partners and investor Alec Litowitz, who bought the building for just over $6.5 million in 2019, are betting that the relatively small deal size, long-term leases with fixed rent escalations and the location near high-demand Fulton Market will attract a wide pool of potential buyers despite broader challenges in the real estate industry.

It’s unclear how much they are expecting in a sale of the building along train tracks west of Ogden Avenue. Shapack CEO Jeff Shapack did not respond to a request to comment from CoStar News.

Shapack was one of the developers that led the rapid transition of Fulton Market from a meatpacking district to the fastest-growing urban office market in the country, according to a CoStar analysis. The neighborhood along the Kennedy Expressway is now lined with office, apartment and hotel towers.

Prominent Shapack projects have included the Hoxton and Soho House hotels and office buildings, including the one at 167 N. Green St. That property's top-floor basketball court has emerged as a destination for NBA team practices and other famous guests.

The Chicago developer also has plans to build more than 2,200 apartments and a 141-room hotel near Bally’s planned casino campus in River West, and the firm recently put a nearby development site on the market for sale at 611 N. Union Ave.

The largest tenant in the Noble Street building going up for sale is media company Barstool Sports, which opened the 39,251-square-foot office — whose amenities include a basketball court, golf simulator and broadcast and podcast studios — last year.

The other tenant is NanoGraf, which makes batteries for U.S. soldiers. It leases 17,629 square feet of research and development and lab space, according to the Cushman & Wakefield brochure.

The Chicago-based battery company also leases space in a nearby warehouse at 455 N. Ashland Ave.

The sellers are represented by Cushman & Wakefield brokers Cody Hundertmark, Tom Sitz and Dan Deuter.