Developer Hines has broken ground on its all-timber office building in Minneapolis' North Loop, the first commercial building in the U.S. to use an engineered wood material for its interior and structure. The Houston-based real estate company announced Monday the start of construction on the 220,000-square-foot, seven-story office building (being called T3 for its emphasis on timber, transit and technology) that has garnered national attention.
A Radisson Red hotel, the chain's latest brand, is coming to downtown St. Paul across from the Xcel Energy Center. Minnetonka-based Opus Development Company and Minneapolis-based Greco, the joint partnership proposing a mixed-use development on the highly visible Seven Corners Gateway site, also announced Carlson Rezidor Hotel Group as a partner and owner of the hotel. The news comes about three months after Ryan Cos. announced it was building a Radisson Red in Minneapolis as a part of its Downtown East project near the Vikings stadium.
A recent report by the national firm CBRE highlighted 11 attractive Midwestern real estate markets, topped by Minneapolis. The thing is, Minneapolis rents are relatively low, which suggests rents could only be going up.
A small health clinic will soon fill prime retail space recently by Saks Off Fifth in the core of downtown Minneapolis. North Memorial Health Care is opening a primary care facility at 655 Nicollet Mall in November.