Retail Space at Alatus LLC’s Latitude 45 Now Fully Leased

FOR IMMEDIATE RELEASE

November 13, 2014

Contact: Lisa York, Westcomm
317.685.9760 | lyork@westcommonline.com

Minneapolis, MN
– Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that locally based Alatus LLC has now leased 100% of its retail with two unique offerings at Latitude 45, a luxury apartment tower currently under construction at 301 Washington Avenue in downtown Minneapolis.

Ryan Burnet, the successful Twin Cities restaurateur behind Bar La Grassa, Burch Steakhouse & Pizza Bar and Barrio Tequila Bar, has leased 6,120 square feet for a new destination restaurant at the corner of 3rd and Washington avenues. Arizona-based Massage Envy Spa has leased 4,205 square feet for its first downtown Minneapolis location at the corner of 4th and Washington avenues. It will be modeled after new Massage Envy Spa locations in major downtowns such as Chicago, presenting a convenient, upscale choice for urban residents. Cassidy Turley’s Andrea Christenson, Vice President of Retail, represented Alatus on both leases.

“We are thrilled to provide a pathway to wellness for Mill City residents and the greater Minneapolis community,” said Peter Carlson, Franchise Owner/Partner of the downtown Massage Envy Spa. “I have been a part of the Twin Cites community all of my life, so I’m thrilled to bring massage therapy and spa services to our Latitude 45 spa location downtown.”

“We are excited to have Ryan Burnet and Massage Envy Spa anchoring the base level of Latitude 45,” said Carl Runck, Vice President of Development for Alatus LLC. “Both will be desirable amenities to Latitude 45 residents and the booming downtown residential and professional worker population. Ryan Burnet was one of the first restaurateurs in the North Loop and now will be a pioneer in the burgeoning Mill District and Downtown East neighborhoods. We are positive this restaurant will become a popular landmark.”

Located in the Mill District near the new Vikings stadium and the $400 million Downtown East mixed-use development, Latitude 45 is the only downtown residential community currently in development that has pre-leased 100% of its retail space.

Ms. Christenson added, “Both retail spaces will benefit not only the 500 residents of Latitude 45, but the entire neighborhood.”

Residents will begin to move into Latitude 45’s 319 units in the summer of 2015.

About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 4,000 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, the company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $25.8 billion in 2013, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 24,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Please visit www.cassidyturley.com for more information about Cassidy Turley.

Cassidy Turley announced in a press release on September 22 that it has entered into an agreement with an affiliate of DTZ Investment Holdings, backed by TPG, PAG Asia Capital and Ontario Teachers’ Pension Plan (the Consortium that agreed to acquire DTZ), to sell 100% of the equity interests of Cassidy Turley. The agreement is subject to customary closing conditions and is dependent on Cassidy Turley’s combination with the operations of DTZ Group (DTZ) to create a global, full-service commercial real estate services company. The Consortium’s acquisition of DTZ closed November 5, 2014. The acquisition of Cassidy Turley is expected to close December 31, 2014.

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Headquartered in Minneapolis, Minnesota, Alatus, LLC was founded in 2005 with the goal of revitalizing communities through the planning, design and construction of transformative projects. Known for its dedication to excellence, Alatus is a leader in multi-family as well as mixed-use, commercial, and single-family residential real estate developments.

The company also includes MyHomeSource, LLC, which focuses on single-family home construction throughout the Minneapolis/St. Paul metro and brings more than 30 years of real estate, design, and construction experience to each neighborhood. With numerous, award-winning urban and suburban developments, Alatus proudly partners with clients and communities throughout the Upper Midwest.