MINNEAPOLIS – (Realty News Report) – Houston-based Hines has signed a key tenant in its new North Loop Green, a mixed-use development adjacent to Target Field stadium, home of the Minnesota Twins.
Located in downtown Minneapolis, the transit-oriented development, served by a transit rail line, is under construction at the nexus of Minneapolis’ public transit system.
The development will include 350,000 SF of creative office space, 350 market rate apartments and 100 short-term rental residences, 17,000 SF of food and beverage offerings, and a one-acre public green space.
Piper Sandler & Co., an investment banking firm, has signed a 15-year lease for approximately 113,000 SF at North Loop Green, which Hines is building along with partners AFL-CIO Building Investment Trust and Marquee Development.
The Piper Sandler investment banking firm will relocate its headquarters to the development as its anchor tenant in the summer of 2025.
“Through technology and wellness-rich amenities, North Loop Green provides an innovative and welcoming environment that caters to individual employees and tenants,” said Bob Pfefferle, managing director at Hines. “We are proud to offer such a differentiated and cutting-edge office experience in Minneapolis and to continue to welcome top-tier tenants like Piper Sandler & Co. and their talent.”
Opening Day in 2024
Opening in the first quarter of 2024, North Loop Green was designed by ESG Architects. The development will offer exclusive terraces on every floor, flexible workspaces, optimized indoor air quality, and a spectacular rooftop amenity terrace.
Additionally, North Loop Green will feature “The Green”, a one-acre, activated green space that will be programmed year-round with a wide range of artistic, cultural, and community-based events.
Piper Sandler was represented in lease negotiations by Tom Braman of Braman & Associates, Inc.
Hines, founded in Houston by Mr. Gerald D. Hines in 1957, operates in 28 countries. Hines manages a $92.3 billion portfolio of high-performing assets across residential, logistics, retail, office, and mixed-use properties.
Piper Sandler, founded in 1895, is headquartered in Minneapolis with offices across the United States and in London, Aberdeen and Hong Kong.
Dec. 14, 2022 Realty News Report Copyright 2022.
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Image: Courtesy Hines
File: Hines Tower Rising Next to Minnesota Twins Field