MINNEAPOLIS—United Properties has acquired andrenovated several downtown properties, and has now nearly completedthe revival of a historic structure in the North Loop warehousedistrict. The Loose-Wiles building at 701 Washington Ave. N. wasvacant when the Minneapolis-based company bought it in the summerof 2012, but after signing nine new leases in 2014, UP has broughtit to more than 90% occupancy.
MarketingLab and Ovative/groupsigned up for the most space, at about 10,000-square-feet each.Other new leases recently signed include: Family SolutionsLaw Group, J.R. Paddon, LogisticsPlanning, North Loop Capital,Straight Line Theory, Thorsen/PostNet and Waterstone Mortgage. Only7,000-square-feet of the 120,000-square-foot building remainavailable.
“Loose-Wiles is in a great location with many dining and transitoptions nearby. And the space gives tenants the true convertedwarehouse aesthetic,” says Jim Montez,Cushman & Wakefield/NorthMarq, who representedUnited Properties in the transactions.
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