1 Curie Court
1 Curie Court, Rockville, MD, 20850, US
12.077 vierkante meter
Beschrijving
Jones Lang LaSalle (“JLL”), as exclusive advisor to the Owner, is pleased to present to investors the opportunity to acquire the historic Lumber Exchange Building, a cornerstone of the city's skyline since 1885, this exceptional property totaling 225,549 square feet presents unmatched investment versatility: enhance high-end creative office space at below replacement cost, or execute a residential conversion, capitalizing on advantageous historic tax credits.
Located in the heart of Minneapolis' CBD with direct skyway connectivity, the property benefits from premier access to major Twin Cities employers, entertainment venues, and transit options. Current ownership has already secured crucial entitlements, architectural plans, and historic approvals, positioning the asset for the immediate implementation of either strategy.
With an attractive acquisition price point, flexible floor plates, and existing leases structured for maximum redevelopment flexibility, the Lumber Exchange represents a rare opportunity to acquire a legacy property with substantial revenue potential and multiple paths to exceptional returns
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Kenmerken
Netto gebouwoppervlakte
20.956 vierkante meter
Bouwjaar
1885
Aantal verdiepingen
12
Bruto landoppervlakte
0,25 ha
Media
Investeringskenmerken
• Building qualifies for 20% Federal and 20% State Historic Tax Credits.
• Minneapolis faces a 2,752 unit housing deficit with only 59 units under construction. The Twin Cities MSA's construction inventory is 65% below the national average, and RentCafe ranks it the #1 city for rental demand in the U.S. These factors point to strong future absorption and rent growth.
• Premier location boasting a 96 walk score, 93 transit score, and 95 bike score. Five Fortune 500 companies are within a five-minute walk.
• The Lumber Exchange offers exceptional value at significantly below replacement cost (current construction costs exceed $600 PSF). In-place rents of approximately $17 PSF are 55% below the $35+ PSF needed for new construction, creating both value and a safety margin for institutional investors.
• Current ownership has invested over $700,000 to advance the conversion project, completing entitlements, design planning, and GC pricing. The Downtown Minneapolis Neighborhood Association has formally endorsed the project.
Contact adviseurs
Lumber Exchange (0 Eigendommen)
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Laatst bijgewerkt
23 jun 2025
