In the heart of Minneapolis, roots don’t grow much deeper than those found at 700 Nicollet Mall, the location of the recently closed (and long-cherished) Macy’s department store. United Properties clearly demonstrated our commitment to creating deep roots as we announced our role for the building’s redevelopment in early March.
United Properties was selected by New York-based 601W Companies, the national developer who recently purchased the Macy’s building as its first Twin Cities acquisition. In this role, we will invest in the project, while providing locally based development and repositioning to the ownership group. Other partners involved in the repositioning of the Macy’s building include Chicago-based The Telos Group as redevelopment consultant and office marketing lead, Gensler as the lead architect, and Transwestern as management agent. Additional local partners are expected to be announced in the coming weeks.
“We are very pleased to be working on this important mixed-use development in downtown Minneapolis,” said Bill Katter, president and chief investment officer. “Together, this highly-qualified, veteran partnership will ensure the redevelopment not only serves, but also enhances the downtown community.”
The significance of this property’s redevelopment is certainly an important one for downtown Minneapolis. The team is looking forward to having a bird’s eye view from our new offices at 651 Nicollet Mall as renovation of the building takes place.