MINNEAPOLIS—United Properties has acquired and renovated several downtown properties, and has now nearly completed the revival of a historic structure in the North Loop warehouse district. The Loose-Wiles building at 701 Washington Ave. N. was vacant when the Minneapolis-based company bought it in the summer of 2012, but after signing nine new leases in 2014, UP has brought it to more than 90% occupancy.
MarketingLab and Ovative/group signed up for the most space, at about 10,000-square-feet each. Other new leases recently signed include: Family Solutions Law Group, J.R. Paddon, Logistics Planning, North Loop Capital, Straight Line Theory, Thorsen/Post Net and Waterstone Mortgage. Only 7,000-square-feet of the 120,000-square-foot building remain available.
“Loose-Wiles is in a great location with many dining and transit options nearby. And the space gives tenants the true converted warehouse aesthetic,” says Jim Montez, Cushman & Wakefield/NorthMarq, who represented United Properties in the transactions.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
