Historic Office & Industrial Space for Lease in Northeast Minneapolis
Suntide Commercial Realty is pleased to present the opportunity to lease office and industrial space at Northrup King Building in Northeast Minneapolis. Buildings 4, 7, and 10, the remaining buildings in the 10-building complex, are being developed in partnership with Artspace and are projected to become available in December 2024. The Northrup King Building is currently home to art studios, art galleries, and nonprofit organizations. This expansion into housing office and industrial will create unparalleled access for businesses to tap into the creative vibe of the building and surrounding trendy neighborhood.
Northrup King Parcel 3 consists of 3 acres located at the North/West end of The Northup King Campus, on which are three historic buildings totaling 120,000 sq ft of re-developable space. These buildings are designated buildings #4, 7 and 10 on the National Register and are contributing structures on the historic Northrup King Campus.
The property is currently owned by Artspace, which has entered into a Joint Venture Agreement with TGR Development to redevelop building #4 into office space, building #7 into storage space, and building #10 into light-manufacturing/warehouse & parking. It is Artspace’s intention to relocate their corporate offices into building 4.
The site will be redeveloped consistent with historic guidelines and will utilize MN State and Federal Historic Tax Credits as a part of the financial package. The Artspace/TRG partnership is raising $3.5 Million in equity for this re-development. While Artspace is a non-for-profit entity, this is strictly a for-profit endeavor for this partnership.
Each of the 3 subject properties offers enormous potential for a business owner looking to target Northeast Minneapolis:
Building #4
A 3-level heavy timber structure of approximately 31,350 SF. Office space will include the future headquarters of Artspace. Existing windows will be refurbished, and non-historic infill will be removed and replaced with replica windows to provide tenants with a well-lit modern office space with historic textures.
Building #7
Approximately 5,000 SF on one level. Historical steel frame building with lots of character. Can be used as storage in its current condition or brought back to life as creative office, retail, brewery, or event center.
Building #10
This historical concrete frame structure is just over 35,000 SF per floor. Levels 1 and 2 will provide light manufacturing / warehousing space. The lower level will offer garage parking for the campus.
Rendering depicting the light manufacturing / warehouse space, with loading docks.
History
The Northrup King Building is a complex of 10 buildings first constructed in 1917. Originally built for and occupied by the Northrup King & Co. seed company, its location adjoining two sets of railroad tracks made it the ideal place to ship seeds across the United States. Northrup King & Co. occupied the building until the late 1980s, when it was sold to Jim Stanton of Shamrock Properties.
Through an ongoing process of renovation, Stanton and his daughter Debbie Woodward (Property Manager from 2001 – 2018) turned the Northrup King Building into a creative center of over 350 artists and arts-related businesses.
The building was sold to Artspace Projects, Inc. upon Woodward’s retirement.
Today, the Northrup King building is an icon in the North Minneapolis neighborhood. It is surrounded by charming historic streets where people can gather, view and produce art, dine out, visit a brewery, or enjoy a night out on the patio. By offering office and industrial, the Northrup King Building will have come full circle in this historic Minnesota story.
Art Culture
The sprawling Northeast area is an up-and-coming area known for art galleries and studios in the Northeast Minneapolis Arts District, plus a mix of food shops, craft breweries, dive bars, and decades-old sausage and cheese stores. Dining options range from experimental restaurants to old-school supper clubs. Along the river, Boom Island Park offers skyline views and a footbridge to Nicollet Island.
The Northeast Minneapolis Arts District welcomes people from all over the world looking for the perfect place to discover, live and/or work. An influx of artists accelerated after they were voted the #1 Arts District by USA Today readers in 2015. Now about 800 artists maintain studios or gallery presence here.
For more information or for a personal property tour, contact
Jeff Hart, CCIM
612-747-7794
[email protected]
Kevin Peck
612-834-2250
[email protected]
Jim Kenney
612-749-4233
[email protected]