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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