![Groundbreaking for Be The Match, a $60 million office building planned for the North Loop Tuesday, July 9, 2014, in Minneapolis, MN. The Ford Building, left, Target Field, center, and Target Field Station, right, are visible in the photo.] (DAVID JOLES/STARTRIBUNE) djoles@startribune Groundbreaking for Be The Match, a $60 million office building planned for the North Loop. The new $60 million office building for Be The Match, the National Bone Marrow donation program's headquarters, signifies a growing office presence in the North Loop.](https://arc.stimg.co/startribunemedia/ZTKXPBD2AKTPZJITEN7MQBRUOE.jpg?&w=1080)
Last month, we attended a groundbreaking for the new $60 million North Loop headquarters for Be the Match, a nonprofit that promotes bone marrow and umbilical-cord blood transplantation. We wrote about it here.
About 900 employees will ultimately move into the seven-story office building, across from the renovated Ford Center, the new Target Field Station transit hub, and Target Field itself.
On Wednesday, U.S. Bank and developer United Properties closed on a $61 million construction loan for the project, which is slated for completion late next year.
"Target Field and the light-rail expansion have proven to be catalysts for growth in downtown Minneapolis, particularly in the North Loop neighborhood," said Joseph Hoesley, vice chairman for U.S. Bank Commercial Real Estate, in a statement. "We expect this project to have a ripple effect tapping into the potential for additional retail and residential development in the surrounding area."
Minneapolis-based Be The Match will lease the space from Bloomington-based United Properties.
"This development has been highly-anticipated by downtown Minneapolis' business and civic communities," said Frank Dutke, United Properties' president.
