707 2Nd AveMinneapolis, MN 55402

For Sale
Call for price
Iconic 30-story office building, redevelopment opportunity

Overview

Added:
Dec 11, 2024
Days on market:
125
This exceptional 959,264 square foot Class A office tower, located at 707 Second Avenue South in Minneapolis' vibrant central business district, presents a unique redevelopment opportunity. Built in 2000 and boasting a prestigious LEED Silver certification, the property currently enjoys 100% occupancy with a single tenant, Ameriprise Financial, Inc., under a lease expiring October 31, 2025, providing a secure income stream. The 30-story building features high-end finishes including terrazzo floors, wood wall accents, and commanding city views. Amenities include a substantial 900-person capacity cafeteria, a 22-room conference center, 313 climate-controlled underground parking spaces, bike storage, and three convenient skyway connections. Situated on a 1.12-acre lot (APN 27-029-24-1101-33-00) and zoned B4-2 Downtown Business District, this property offers significant flexibility for repurposing. Ameriprise's planned consolidation to a nearby location creates a blank canvas for a transformative project, potentially incorporating residential, hospitality, or enhanced office space, capitalizing on the limited new supply and strong demand in this flight-to-quality market. The property's prime location and accessibility within the dynamic Minneapolis CBD further enhance its investment potential. This is a generational placemaking opportunity to reimagine a preeminent high-rise tower.

Highlights

  • Unique redevelopment opportunity of a 959,264 SF Class A office tower in Minneapolis' CBD.
  • Flexible zoning (B4-2) allows for alternative uses, with potential incentive options.
  • Strong alternative use market due to limited new supply and flight-to-quality demand.
  • Secure income stream until October 2025 from an S&P A-rated tenant.
  • Reduced competition from limited new construction and recent conversions.
  • Prime location in the dynamic Minneapolis CBD with superior accessibility.

Property Details for 707 2Nd Ave

Property type
Office properties
Square Feet
959,264 SF
Class
A
Year Built
2000
Buildings
1
Stories
30
Lot Size (sq. ft)
48,787 SF

Location Insight

City
Minneapolis
County
Hennepin
State
Minnesota
Latitude
44.975430399398
Longitude
-93.268859215086
707 2Nd Ave, Minneapolis, Minnesota

FAQs

What type of property is this?
Office property - Iconic 30-story office building, redevelopment opportunity
Where is the office property located?
The property is located at 707 2Nd Ave Minneapolis, MN.
What are key features of this property?
This property features: Unique redevelopment opportunity of a 959,264 SF Class A office tower in Minneapolis' CBD.; Flexible zoning (B4-2) allows for alternative uses, with potential incentive options.; Strong alternative use market due to limited new supply and flight-to-quality demand.
How can I contact the broker?
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707 2Nd Ave
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