At a Glance:
|SIZE:||4 stories; 245,000 gross sq ft + 550 stall underground parking ramp|
|STATUS:||Sold in 2017; Institutional Investor|
As local developers deeply invested in the success of downtown Minneapolis, Alatus and its partners acquired the well-located but historically troubled Block E retail & entertainment complex in 2010.
We diligently listened to community stakeholders and market realities to formulate redevelopment plans that have radically transformed the property for long term stabilization and dynamic contribution toward the revitalization of Hennepin Avenue. Alatus partnered with the Minnesota Timberwolves | Lynx and the world-class Mayo Clinic organization to redevelop the property and introduced the fully renovated and renamed Mayo Clinic Square in 2015 – a business, entertainment, sports and cultural centerpiece located in the Minneapolis entertainment district.
Designed by locally-based RSP Architects, the new facade and finishes were inspired by “dynamic urban areas in New York City and Chicago” and feature modern uses of Class A materials including glass, stone, metal panels, and scrim, while adding a local flair. Key elements of the exterior and interior transformation included opening the building up to become accessible, pedestrian-friendly, safe, and to act as a “positive contributor to downtown.” (Read the full design story here)
Mayo Clinic Square is now home to the Timberwolves’ and Lynx’ 107,000-square-foot practice facilities and headquarters – deemed “The Gold Standard” of courts by NBA Commissioner Adam Silver, these sports teams enjoy the tremendous benefit of having courts, global headquarters, and access to sports medicine experts all centrally located. Sharing the third and fourth floors of the building is The Mayo Clinic Sports Medicine center – a 20,000+ square foot one-of-a-kind sports medicine facility highlighted by sport-specific treatment programs and state-of-the-art rehabilitation and imaging equipment for elite to amateur athletes.
The $60 million renovation also features signature destination restaurants (including Old Town Pour House – a reinvented upscale American restaurant and sports bar by Chicago-based Bottleneck Management), retail tenants, and office spaces which bring positive activity and life to the streetscape and provide long-term vitality in the heart of downtown Minneapolis.
Learn more: Mayo Clinic Square News