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MINNEAPOLIS—A big change is about to take place in the downtown retail world. Saks has anchored 655 Nicollet Mall, also known as Gaviidae Common, for decades, but United Properties, in a joint venture with Capital Real Estate, Inc., has just acquired the first two floors of the building signed a lease with Walgreens to anchor the project. The 37,000-square-foot space will include Walgreens’ first upscale format in Minnesota, and feature a wide variety of freshly made food, a beverage bar, frozen yogurt, sushi market and high-end cosmetics. It will have multiple entrance points including access to Nicollet Mall and the Minneapolis skyway system.

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