MINNEAPOLIS—The owner of the Colonial Warehouse, a historic asset located in the heart of the North Loop district of Minneapolis, has decided to put the 181,200 square foot brick and timber building up for sale. The property should generate national interest from investors that want to take advantage of the growing demand for creative office space in one of the region's fastest growing neighborhoods.
“The North Loop is also filling up with new housing, hotels and retail,” Steven Buss of CBRE tells GlobeSt.com. “Housing and office conversions led the way, but we're seeing demand across uses for spaces in these historic buildings.” A Minneapolis-based CBRE team of Buss, Ryan Watts, Judd Welliver, Tom Holtz and Sonja Dusil, has been chosen by the private owner to market the building.
Another source tells GlobeSt.com that the five-story building could go for about $25 million and perhaps more.
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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.
