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First Avenue Lofts To Be First All-Condo Offices

MINNEAPOLIS-Tria Development is joining with United Properties to market the first of two buildings totaling 30,000 sf. The century-old buildings are now undergoing a $1-million renovation.

By Jim McCartney | Updated on October 18, 2004

MINNEAPOLIS-First Avenue Lofts, two buildings undergoing a $1-million renovation, will soon become Downtown’s first all condo office building. Locally based Tria Development and United Properties of Bloomington will market the project, which is located in the Warehouse District at First Avenue and First Street.

The project includes two three-story, side-by-side buildings with a combined 30,000 sf of available office space. “There is strong demand for office buildings under 10,000 sf in today’s real estate market, but these buildings are in short supply and tend to have high price tags,” says Jim Montez, senior associate in officer brokerage with United Properties and head of the marketing effort.

Lofts will range in size from 1,000 sf to 6,000 sf and in price from $250,000 to $1 million. Space reservations are now being accepted with occupancy projected for April 2005, the anticipated completion date for the renovation work.

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