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651 Nicollet Mall - 7th & Nic
26,170 SF Office/Medical Condo Unit Offered at $2,900,000 in Minneapolis, MN 55402
Investment Highlights
- Located in the heart of Downtown Minneapolis along the Skyway, 7th & Nic offers a prestigious Class A office condominium within Gaviidae Common.
- Currently set up for office use, Unit 300 offers limitless potential for specialized retailers, educational centers, medical practices, and more.
- Prospective owners benefit from immediate access to light and commuter rail transit at Nicollet Mall Station, and NorthStar's Target Field Station.
- Unit 300 provides 26,170 square feet of flexible office space with 16-foot ceilings, and exclusive elevator access, ideal for a corporate headquarters
- Adjacent to Minneapolis's iconic Crystal Court and IDS Center, Unit 300 enjoys prime visibility at the corner of 7th Street and Nicollet Mall.
- With proximity to a vibrant downtown scene, 7th & Nic ensures tenants an array of amenities and entertainment options steps away from the workplace.
Executive Summary
7th & Nic is a Class A office condominium project situated within Gaviidae Common, a sprawling retail center occupying 291,535 square feet across two and a half blocks along Nicollet Mall, between 5th and 7th Streets in Downtown Minneapolis. The complex is seamlessly integrated into the city's extensive 64-block skyway bridge system, facilitating convenient access to the downtown core. Gaviidae Common's centerpiece is an atrium adorned with a celestial motif inspired by Minnesota's northern sky. Among its notable features are a Walgreens store and the Dayton YMCA. Strategically positioned adjacent to the iconic Crystal Court and the award-winning urban park of IDS Center, 7th & Nic benefits from its prime location on the Minneapolis Skyway. Nicollet Mall, renowned as downtown's central hub for shopping and entertainment, has been revitalized to enhance the experience for visitors, employees, and the area's growing residential community. Employers here benefit from proximity to approximately 143,948 daytime workers within a mile radius, ensuring a robust labor pool. The property offers excellent transportation connectivity, with Nicollet Mall Station just three minutes away, NorthStar's Target Field Station reachable by a 14-minute walk, and Minneapolis–St. Paul International Airport is a 22-minute drive. Its unparalleled access to Interstates 94, 394, and 35W further enhances its appeal as a premier business location in Minneapolis.
Property Facts
1 Unit Available
Unit 300
Unit Size | 26,170 SF | Condo Use | Office/Medical |
Price | $2,900,000 | Sale Type | Owner User |
Price Per SF | $110.81 |
Unit Size | 26,170 SF |
Price | $2,900,000 |
Price Per SF | $110.81 |
Condo Use | Office/Medical |
Sale Type | Owner User |
Description
Unit 300 is a modern office condominium spanning a whole floor of 26,170 square feet in Downtown Minneapolis. The space features 16-foot ceilings, private restrooms with showers, and exclusive elevator access. Shared with only one other tenant, its Skyway lobby presents a unique branding opportunity for the property's buyer.
Additionally, Unit 300 boasts an open plan layout, an existing kitchen, and prominent signage at the corner of 7th Street and Nicollet Mall, adjacent to The Dayton's Project, IDS, and City Center. This prime location is ideal for establishing a new corporate headquarters, offering extensive customization possibilities tailored to various corporate needs.
While the space is currently configured for office use, the future build-out possibilities are limitless. This prime location is ideal for specialized retailers, educational centers or schools, and various medical uses, such as cosmetic surgery clinics, cryotherapy facilities, physical therapy providers, and more.
Access to the third floor of 7th & Nic is facilitated through a secure and inviting elevator lobby strategically situated within the Minneapolis Skyway System for optimal accessibility and visibility. This private elevator also provides access to the Gaviidae Common public parking garage below the building. With its exceptional connectivity and proximity to the thriving Nicollet Mall and Minneapolis Skyway system, 7th & Nic offers endless potential for various commercial and professional ventures.
Sale Notes
Unit 300 at 7th & Nic is poised to attract users seeking to own and occupy top-tier Class A commercial space in the heart of Minneapolis's Central Business District (CBD). Amid a market characterized by ongoing space availability, owning over 25,000 square feet of prime real estate in this location offers a rare opportunity to transform the space for various future uses. Tenants will benefit from proximity to a wealth of downtown amenities, including popular dining destinations such as Noa, Zelo, and Manny’s, various retail outlets, vibrant nightlife options, and cozy cafes.
DEMOGRAPHICS
Demographics
Amenities
- Central Heating
- Natural Light
- Air Conditioning
- Smoke Detector
Nearby Amenities
Hospitals |
|||
---|---|---|---|
Hennepin County Medical Center | Acute Care | 2 min drive | 0.8 mi |
Children's Hospitals & Clinics of Minnesota | Children's | 5 min drive | 1.8 mi |
Abbott Northwestern Hospital | Acute Care | 6 min drive | 2.3 mi |
University of Minnesota Medical Center, Fairview | Acute Care | 6 min drive | 2.3 mi |
North Memorial Health | Acute Care | 12 min drive | 4.1 mi |
Restaurants |
|||
---|---|---|---|
Planet Smoothie | Smoothies | $ | In Building |
Starbucks | Cafe | $ | 3 min walk |
Fogo de Chão | - | - | 2 min walk |
Hell's Kitchen | American | $$$ | 7 min walk |
The Loon Cafe | Cafe | $$$ | 8 min walk |
Zelo | American | $$$$ | 7 min walk |
Retail |
||
---|---|---|
The YMCA | Fitness | In Building |
Walgreens | Drug Store | In Building |
Bank of America | Bank | 3 min walk |
FedEx Office | Business/Copy/Postal Services | 3 min walk |
Target | Dept Store | 4 min walk |
Hotels |
|
---|---|
Westin |
214 rooms
3 min walk
|
Curio Collection by Hilton |
281 rooms
3 min walk
|
Tribute Portfolio |
270 rooms
3 min walk
|
W Hotel |
229 rooms
6 min walk
|
Four Seasons |
222 rooms
9 min walk
|
zoning
Zoning Code | B4-2 |
B4-2 |
About the Architect
Sale Advisors
Tom Tracy, Executive Director
Tom has spent his entire 28-year real estate career in the Twin Cities market and is regarded as an industry leader.
Tom joined Cushman & Wakefield in 1997. Of note is his leasing success at the 1.7 million sf Normandale Lake Office Park, which includes large and complicated transactions with many of the world’s leading companies, such as Microsoft, Willis Towers Watson, Oracle, Tata Consulting, Emerson Corporation, Aon, Mercer, Morgan Stanley, Merrill Lynch, Bank of America, Activision, and Prime Therapeutics. Tom’s leasing efforts spurred two new office developments at the park, totaling more than 500,000 sf, and two separate sales of the entire asset.
In 2015, Tom departed to The Excelsior Group (TEG), a Minneapolis-based private equity real estate firm, where he led the firm’s acquisitions and development business for three years. In this role, highlights include:
Worked with TEG’s equity partner, Goldman Sachs, to oversee the redevelopment and lease-up (with C&W as broker) of West End Office Park - the Twin Cities’ most successful Class A Creative redevelopment to date
Led TEG’s acquisition of Colonial Warehouse in the North Loop with partner GEM Realty Capital
Worked with TEG’s development partner, Ryan Companies, to design and secure entitlements for 10 West End, a 315,000 sf office development
Sold 195 acres of land in Eagan, Minnesota to the Minnesota Vikings for its new headquarters and practice facility
Established many new relationships with prominent institutional and private equity real estate investors across the US
In 2018, Tom rejoined Cushman & Wakefield in its Minneapolis CBD office bringing with him tremendous investment and development experience to complement his agency leasing expertise. This offers his clients insight and understanding that is unique in the marketplace.
Katie Tufford, Senior Director
After spending more than a decade working in property management at Class A downtown and suburban office high rises, Katie knows what truly drives tenants and landlords. She understands that a lease is more than just a legal agreement. For tenants it’s a means to grow their business through employee recruitment and retention, a driver for company culture and their biggest financial investment. For landlords, it’s a component of a complex investment strategy for which the most diligent oversight and fiduciary integrity is required. Katie’s expertise in all aspects of asset management, including marketing, leasing, budgeting, financial reporting, operations, construction, tenant relations, and human resources is unrivaled in the market and is instrumental to her clients’ execution of their investment strategy.
Harrison Rust, Associate
Harrison recently graduated from the Opus College of Business at the University of St. Thomas in Minnesota. He studied finance and real estate, graduating with a degree in financial management.
Prior to joining Cushman & Wakefield, Harrison worked with Hempel Companies in Minneapolis as a Financial Intern. In this position he supported investor relations & services, financial reporting and property management with everyday jobs and tasks. Past roles include sales and financial positions with Xperience and USCryotherapy, now Cushman & Wakefield.
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651 Nicollet Mall - 7th & Nic
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