FOR LEASE > OFFICE & RETAIL SPACE The Kildall Ludefisk Building 424 WASHINGTON AVENUE, MINNEAPOLIS, MN 55401 A distinctive historic building located in the heart of the North Loop neighborhood HISTORICALLY PRESERVED OFFICE BUILDING WITH CREATIVE HIGH-IMAGE SUITES WITH A WAREHOUSE FEEL > Constructed by the Kildall Company in 1914, the building housed the nation s largest producer of ludefisk at that time > Large, openable windows and raw concrete ceilings were designed to preserve the original look of the building > Interior features include modernized building hvac systems, elevator, historically designed windows with 4 sides of glass and open concrete span and pillar 1914 warehouse construction > Outstanding corner location in the North Loop > Ownership is willing to provide a full turn-key build-out > Multiple sized suites - up to 2,500 SF on the first floor and 6,000 SF on the second floor > Within walking distance to many restaurants, services and entertainment > Numerous ramps and surface lots within a short walking distance > DYNAMIC NEIGHBORHOOD > DESTINATION ENTERTAINMENT > CHEF-INSPIRED DINING > UPSCALE RETAIL > RARE LOCATION COLLIERS INTERNATIONAL 900 2nd Avenue South Suite 1575 Minneapolis, MN 55402 www.colliers.com/msp
THE KILDALL LUDEFISK BUILDING 424 Washington Ave > Property Facts AVAILABLE FOR LEASE: 1st Floor: 2,586 sf 2nd Floor: 7,564 sf Divisible to: 800 sf NET RENTAL RATES: $14.50 - $16.00 per square foot 2016 EST. CAM & REAL ESTATE TAX: CAM: $4.72 psf RE Tax: $3.12 psf Total: $7.84 psf BUILDING AMENITIES: > Creative, appealing and affordable suites > Outstanding corner location in the Minneapolis North Loop neighborhood > Modernized systems and historically designed windows in 2000 > Charming architectural details > Freight elevator > First floor restaurant > Lower level storage available PROPERTY ADDRESS: 424 Washington Avenue Minneapolis, MN 55401 CURRENTLY AVAILABLE: First fl. suites: 2,586 sf Second fl. suites: 7,564 sf BUILDING SIZE: 49,575 total square feet PARKING: Surface lot YEAR BUILT: 1914 NORTH LOOP AMENITIES: > The fastest-growing neighborhood in Minneapolis > Convenient to major freeways > Located within walking distance to numerous area amenities including: Mpls Farmer s Market Target Field Bachelor Farmer Moose & Sadies Smack Shack Black Sheep Pizza The Freehouse Spoon & Stable The Monte Carlo The Loop Cuzzy s And more... COLLIERS INTERNATIONAL 900 2nd Avenue South Suite 1575 Minneapolis, MN 55402 www.colliers.com/msp
Kildall Ludefisk Building 1424 WASHINGTON AVENUE NORTH, MINNEAPOLIS MN SUITE 103 USF LEASED = 1,466 RSF = 1,745 STAIR A ELEV. MEN SUITE 101 LEASED USF = 3,353 RSF = 3,990 JAN FIRST FLOOR 2,586 SF Available BLDG WOMEN FREIGHT ELEVATOR LIFT STAIR B SUITE 109 USF = 2,173 RSF = 2,586 SUITE 109 2,586 SF SUITE 107 USF = 2,502 LEASED TOTAL FLOOR SQUARE FOOTAGE USF = 9,679 @ 19% RSF = 10,823 LEVEL ONE - PLAN MINNEPOLIS, MN December 13, 2016 N
Kildall Ludefisk Building 1424 WASHINGTON AVENUE NORTH, MINNEAPOLIS MN 19'-3" STAIR A ELEV. ELEVATOR LOBBY SECOND FLOOR 7,564 SF Available 42'-6" 42'-6" UP STAIR B 208 SUITE 208 5,910 SF RSF = 5,910 1'-0" 4'-2" JAN. ELECT. MEN'S WOMEN'S EXISTING FRIEGHT 6'-11 1 4" 40'-6 1 4" 22'-6 3 4" 85'-0" 9'-1 1 4" 206 LEASED RSF = 1,939 204 SUITE 204 802 SF RSF = 802 202 SUITE 202 852 SF RSF = 852 21'-11" 17'-11 1 2" 200 LEASED RSF = 2,159 53'-83 8 " 30'-1 5 8 " 32'-0 1 8" 30'-9 7 8" SECOND LEVEL FLOOR PLAN - OPTION 2 - C MINNEAPOLIS, MN January 5, 2017 N
The historic Kildall Ludefisk Building > Certified as an historically preserved building within the Minneapolis warehouse district > Designed by Christopher Boehme and architect Victor Cordella who also built the American Swedish Institute on Park Avenue > Built in 1914, the building was the largest and most modern ludefisk processing plant in the world > In 1965 a third story was added, allowing the building to remain consistent with other surrounding historic structures Further development of the new north wholesale district is taking form at Fifth and Washington avenues N as a large storage house for the Kildall Fish Company. The site is 105 feet facing Washington avenue and 172 feet deep. The basement was blasted from the solid rock and will be two stories. The building is to be eventually seven stories above ground, and it is designed as the most modern and fully equipped house in the world, with a cold storage plant and electric ventilating system. It will have ample space for the stock of salt and smoke fish. To make the double deck basement it was necessary to remove 13,120 cubic yarks of rock and dirt. A special Soo Line spur has been put in for switching cars direct to the warehouse.
THE KILDALL LUDEFISK BUILDING 424 Washington Ave > Parking & Transportation PARKING RESOURCES Metro Transit Light Rail Northstar Commuter Rail 1 Parking Metro Transit Bus Route 2 Metro Transit Bus Stop HourCar Station 3 NiceRide Kiosk Washington Ave & 2nd St WW Parking Inc / 763-553-0266 54 surface stalls Washington Ave & 3rd Ave N Interstate Parking / 612-375-1301 65 surface stalls Hennepin Ave & 2nd St S Standard Parking / 612-455-3723 160 ramp stalls 4 Washington Ave & 2nd Ave N AP, LLC Parking / 612-567-9855 50 surface stalls 5 8th Ave N & 1st St N Imperial Parking / 612-341-8000 85 surface stalls
THE KILDALL LUDEFISK BUILDING 424 Washington Ave > Area Dining, Entertainment & Shopping 4th Avenue North 5th Avenue North SITE Washington Avenue North 3rd Avenue North
Minneapolis NORTH LOOP The fastest-growing community within the urban core The ultimate destination for the trifecta of work, live, and play, the North Loop s population numbers have sky-rocketed in the last 15 years, growing from 1,515 in 2000 to 4,291 in 2010 to 5,433 in 2015. Jobs are also rapidly growing in the area, with employee counts jumping from 9,500 in 2010 to 14,850 in 2015. If significant amounts of new restaurants, breweries and stylish upscale retail are any indicator of economic strength, then the North Loop is the local heavyweight champion for having the it factor. Multifamily development is also on the rise, with several new apartment, condo, loft, and hotel concepts providing housing options for the influx of new residents and visitors. Development in the area in large part due to Target Field and the new Target Field Transit station increased the profile of the neighborhood. Historic industrial-use buildings, such as the Ford Center, the Kildall Building, the Maytag Building, Tractorworks, and The Washington were renovated or are being renovated to support the growing office and mixed-use footprint. In 2015, Be the Match moved into their new, build-to-suit headquarters: a 240,000-square-foot development on the old Shapco Printing site. Currently, Hines is underway on a 210,000-square-foot speculative office building called T3. There is an additional 870,000 square feet of office space in four buildings planned for the North Loop. On the retail scene, the North Loop has become very competitive with local and national high-end concept retailers looking for highly sought-after space. As a hub of employment, entertainment, and transportation, businesses are attempting to capture the vibrancy of the neighborhood with locations that offer livability, walkability, easy access to amenities, transport options and green space, making them attractive options for today s young professionals, emptynesters, creative types, and sports enthusiasts alike. > HISTORIC LOCATION > EDUCATED WORKFORCE > MULTI-MODAL TRANSPORTATION HUB > OUTSTANDING LIVABILITY RANKING > DIVERSE POPULATION Area Restaurants Area Retailers
At a glance... POPULATION OFFICE INCOME 27% 27% increase in population since 2010, making the North Loop the fastest-growing neighborhood in Minneapolis 6.8% 6.8% office vacancy rate, significantly less than the Minneapolis CBD s 12.7% 26% at $71,609, the median income is 26% higher than the national level EMPLOYMENT HOUSING OPTIONS MILLENNIAL HOT SPOT 50% 50% increase in jobs since 2010, totaling 5,300 new positions created 2,156 2,156 apartment units planned, under construction, or recently completed 32% 32% residents in the 25-34 age, higher than the 14.6% in the MSP Metro The neighborhood also enjoys local and national recognition as it has been named Best Neighborhood (Mpls/St. Paul Magazine and CityPages), 12th Hippest Neighborhood (Forbes), Favorite Neighborhood (Fast Company), Coolist Neighborhood in American (Thrillist), and Go List 2016 (Fodor s). Copyright 2016 Colliers International. The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report.