VOLUME 30, NUMBER 11
Š2014 Law Bulletin Publishing Co.
November 2014
United Properties: Bringing a new type of office building to Minneapolis’ Target Field Station
By Dan Rafter, Editor
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he North Loop area of downtown Minneapolis has become one of the hottest neighborhoods in the Twin Cities. The development of Target Field Station -- the light-rail commuter station located adjacent to the new home of the Minnesota Twins baseball team -- has helped fuel this. Without the light-rail station, it's difficult to imagine the growth of the Target Field Station mixed-use project and outdoor park that's growing in this neighborhood. Now developer United Properties is providing yet another boost to this growing neighborhood and the mixed-use development with its plans to build Target Field Station Center, a transit-oriented Class-A office building on the final
land parcel remaining at the development. The building, located next to a 288-car public parking ramp, will rise up to 10 stories and include about 240,00 square feet at the southeast corner of Sixth Avenue North and Fifth Street North. Bill Katter, executive vice president for United Properties, said that this building is the latest example of his company's interest in Minneapolis' North Loop neighborhood. "This area continues to be one of the most exciting places for next-generation office space in the Twin Cities," Katter said. Katter listed several reasons why the North Loop area remains such a hot one in the Twin Cities. North Loop to page 16
Tenants flocking to new RBC Plaza in downtown Minneapolis By Dan Rafter, Editor
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BS Capital Advisors took a risk earlier this year when they approved plans to merge two key buildings on the Nicollet Mall in downtown Minneapolis. Today, though, that risk is paying off as new tenants continue to sign on at the newly renovated RBC Plaza. Two law firms, equity and investment firms, a network communications company and three retailers
have all signed on to lease space at the office and retail center at 60 S. 6th St. in downtown. The new companies account for 125,000 square feet of new leases at RBC Plaza. Sonja Dusil, senior director of brokerage services for Cushman & Wakefield|NOrthMarq -- the brokerage that represents the building -- says that she isn't surprised by this activity. The northern end of Minneapolis' Nicollet Mall area is busy today, with construction taking place on the new home of the Minnesota Vikings and with Target Field -- home of the Minnesota Twins -- still a major attraction.
The area is also home to the new Target Field Station light-rail train station and the newly built Nic on Fifth luxury apartments So plenty is happening in the Nicollet Mall area to attract retailers and office tenants, Dusil said. "There is a pull toward the north end of the mall," Dusil said. "We truly are in the center of that livework-play environment that people want today. There is activity and vibrancy in the mall. That enhances our building, too." RBC Plaza to page 19