Latest project is the fifth for the developer in North Loop
MINNEAPOLIS (August 24, 2017) – United Properties has broken ground on The Nordic, a 385,000-sq.-ft., mixed-use development project in Minneapolis’ North Loop neighborhood. Located at 729 Washington Avenue North, the 10-story building will be home to office, residential and retail tenants by January 2019. This will be United Properties’ fifth North Loop project and is the largest project yet to be undertaken by the company in the North Loop.
Digital marketing and analytics agency Ovative/group has signed a lease for 30,000 sq. ft. and will be the initial anchor tenant at The Nordic. The firm will relocate from a smaller space in the nearby Loose-Wiles building, also owned by United Properties.
“The Nordic will deliver many sought-after amenities to this already-vibrant area, including additional parking, multiple green spaces and public areas. It’s another way we’re creating deep roots by strengthening this neighborhood,” said Gordy Stofer, vice president, office development, United Properties. “We continue to see strong interest from office tenants and expect we’ll have more to announce in the near future.”
The Nordic-inspired, modern warehouse-style building is designed to be the living room and backyard of the North Loop. In addition to office space, the development will contain 57 apartments, an underground and seven-level elevated parking garage with over 400 spaces and ground-level retail. Outside, The Nordic will feature an active public plaza fronting Washington Avenue, intended for outdoor seating, lawn games, winter ice curling and space for food truck service.
A grant from the Metropolitan Council is helping to underwrite the costs of soil remediation on this former industrial site.
Project partners include general contractor RJM Construction, Hartman Cox, a nationally renowned architect and lead architect for the project, LHB Architects providing the design for the residential and parking components as well as local support for the overall project and Greco as the residential marketing agent and partner.
About United Properties
United Properties has been creating deep roots in the commercial real estate industry for 100 years. The company imagines new possibilities in real estate to help strengthen communities and create lasting legacies. United Properties provides market expertise for ground-up development, redevelopment and acquisitions of value-add and stable investments. The company invests in and develops office, industrial, retail, mixed-use and senior housing properties. United Properties is owned by the Pohlad Companies and is headquartered in Minneapolis, with an office in Denver. For more information, visit www.uproperties.com or follow on Twitter at @UPDeepRoots.
Lilja Communications for United Properties