MINNEAPOLIS (Nov. 12, 2014) – United Properties announces its next development project in the North Loop of downtown Minneapolis: Target Field Station Center, a Class A, transit-oriented building on the remaining land parcel at Target Field Station. Adjacent to the 288-car public parking ramp, the building will consist of up to 10 stories and approximately 240,000 sq. ft. Located at the southeast corner of Sixth Avenue North and Fifth Street North, the project will be integral to Target Field Station, the transportation hub, outdoor park and mixed-use project adjacent to Target Field.
“The development of this new project at Target Field Station builds on United Properties’ previous success and ongoing commitment in the North Loop,” said Bill Katter, executive vice president, United Properties. “This area continues to be one of the most exciting places for next-generation office space in the Twin Cities.”
United Properties will purchase the 0.75-acre site from Hennepin County and pursue the planning and entitlement process with the City of Minneapolis in early 2015. After closing and city approvals, United Properties expects to break ground in the fall of 2015 and complete the project in late 2016.
The interior will likely include exposed ceilings and large, open office space to replicate the feel of other North Loop and Warehouse District buildings. Building amenities will include a restaurant across from the entrance to Target Field Station, a roof terrace with lounge, bike storage, fitness center and underground executive parking. United Properties will seek U.S. Green Building Council LEED certification for the building’s shell.
In 2012, United Properties began work with the Minnesota Twins and Hennepin County to develop the land near Target Field Station, including the Caribou Coffee on the site earlier this year. The new building will be adjacent to United Properties’ Ford Center and across from United Properties’ site for the future Be The Match headquarters. United Properties also acquired and renovated the historic Loose Wiles Building in the North Loop that was once a commercial bakery.
The project will be leased by Jim Montez of Cushman & Wakefield|NorthMarq.
About United Properties
United Properties, based in Minneapolis, 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, office and industrial 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, Illinois and Colorado. For more information, visit www.uproperties.com or follow on Twitter at @UPDeepRoots.