MINNEAPOLIS—Even some of the nation's most vibrant CBDs still have older structures that developers can transform into creative office spaces. That's the goal R2 Cos. has set for itself in Minneapolis, where the Chicago-based firm and its partner Goldman Sachs have already transformed the outward appearance of the historic 15 Building and now plan to revive its interior.
Until 2014, the 12-story building located at 15 S. Fifth St. was owned by a local investor, and "it had not been updated in an aeshetic way in quite some time," Erik Ordway, a senior associate with Cushman & Wakefield | NorthMarq, tells GlobeSt.com. "What makes it unique is it's a vintage building tucked in amongst the downtown's more modern buildings." Similar structures populate the nearby Warehouse District and "those kinds of buildings have filled up over the past few years."
Along with C&W executive director Brent Erickson, Ordway will lease the property on the owner's behalf. The two have significant experience leasing creative loft-office space in the market, including the TractorWorks building in the North Loop neighborhood.
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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.
