Uptown’s Sons of Norway Site For Sale
The next big redevelopment site in the Uptown area of south Minneapolis just hit the market: the Sons of Norway building at 1455 West Lake Street.
Sons of Norway has called the office building there home for more than 55 years. The property is one block west of the intersection of Lake Street and Hennepin Avenue, the core of the Uptown area.
While the site could include a variety of future projects, new residential units are expected to anchor any redevelopment of the property.
“It’s for sure going to have a large component of housing,” said Ted Abramson, one of the brokers with the local office of Los Angeles-based CBRE Group Inc., which handling the sale.
Abramson told TCB that he estimates that the site could accommodate at least 300 residential units.
He added that the project could include retail space on the Lake Street side of the land, as well as other potential elements such as office space.
Abramson and broker Brian Pankratz are handling the sale of the property, which is being listed without an asking price. Two other CBRE brokers, John Lorence and Neil Kolatkar, will represent Sons of Norway in its search for new office space.
Including parcels currently owned by Wells Fargo, the total contiguous site is 2.2 acres: a large site to find in the heart of Uptown. The flurry of apartment development in recent years has left few potential redevelopment sites available in Uptown.
“There’s definitely not much left,” said Abramson.