New leases bring building to 99.5 percent occupancy
MINNEAPOLIS (Nov. 5, 2012) – United Properties announced today three new leases at Ford Center for Northern Lights Broadcasting, Agosto and Atomic Playpen. With these new tenants, the building is 99.5 percent leased; all that remains is 550 sq. ft.
“We’re hoping to find an eatery of some kind to fill the remaining space and serve the building’s tenants,” said John Saunders, United Properties. Owner and redeveloper United Properties was represented in all three transactions by Jim Montez and Sonja Dusil of Cushman & Wakefield/NorthMarq.
Northern Lights Broadcasting, broadcaster of FM 96.3 K-TWIN, signed a lease for 8,400 sq. ft. of space on the first floor of Ford Center. The broadcaster will move from its current location in Edina to a glass-front studio facing Fifth Avenue and Fifth Street. Northern Lights Broadcasting plans to move into the space this month. The project team includes designer Nelson and general contractor RJM Construction.
Agosto, a Google App and cloud consulting firm, signed a lease for 13,200 sq. ft. on the fourth floor. Agosto moved into Ford Center in early October. The project team includes Collage Architects, RJM Construction and tenant broker Rob Youngquist of Cushman & Wakefield/NorthMarq.
Web developer and designer Atomic Playpen will occupy 11,800 sq. ft. on the sixth floor of Ford Center. A December move-in date is planned. The project team includes general contractor RJM Construction, designer Nelson, and tenant broker Bob Revoir of Cushman & Wakefield/NorthMarq.
Located at 420 Fifth Street, Minneapolis, Ford Center was built in 1912 and previously home to Ford Motor Company’s vertical assembly plant and showroom. United Properties recently completed a historic renovation of the 265,000-sq.-ft. building.
About United Properties
United Properties, based in Minneapolis, Minn., specializes in commercial real estate development and investment. Since 1975, United Properties has provided development services for the retail, residential, office, medical and industrial sectors. In addition to a large presence in the Minneapolis-St. Paul market, United Properties’ Colorado division develops retail properties as well as office and flex office buildings. Formed in 1916, the United Properties investments group acquires, manages, finances and disposes of the company’s real estate investments, which includes nearly 60 office, medical, industrial and retail assets in Minnesota, Wisconsin and Colorado. For more information, visit www.uproperties.com.
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