MINNEAPOLIS—Shorenstein Properties LLC bought 33 S. Sixth St. in 2012 for more than $200 million and has focused on repositioning and re-tenanting the retail space, known as Minneapolis City Center. And the San Francisco-based company just signed up Sports Authority, one of the largest sporting goods retailers in the US, for a 21,877-square-foot ground-floor space on the Nicollet Mall and 7th St. side of the property. Sports Authority has ten stores in the Twin Cities region but this marks the company's first store in downtown Minneapolis. Company officials expect to open the store in fall 2015.
“We're excited to bring our passion for sports and our unparalleled selection of sporting goods and apparel to the Minneapolis City Center, and we look forward to being part of the vibrant retail and lifestyle atmosphere in downtown,” says Michael Foss, chief executive officer of Sports Authority.
As reported in GlobeSt.com, Shorenstein recently scored a bit of a coup by signing Saks Fifth Avenue OFF 5th to 40,321-square-feet at the center. Saks had just decided to close its location at 655 Nicollet Mall after a 25-year run. The luxury retailer plans to open in April 2016. And by signing up Sports Authority, Shorenstein has brought total retail occupancy at the center up to 86%.
“With a strong community of office users in our building and downtown, we're delighted to now see the traction taking place within the retail component of Minneapolis City Center and the positive effect it is already having on the community,” says Glenn Shannon, president, Shorenstein Properties.
In addition to the two-story Minneapolis City Center, the 1.6-million-square-foot, mixed-use property includes a 50-story office tower as well as a three-story parking garage and a long-term ground lease for the adjacent 583-room Marriott City Center Hotel.
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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.
