United Properties Purchases Nieman Marcus Building on Nicollett Mall

United Properties continues to play an important role in downtown Minneapolis. The developer most recently closed on the empty Neiman Marcus store at 505 Nicollett Mall in downtown. United Properties says it will now renovate the 100,000-square-foot building.

United Properties hasn’t yet said what the former retail building will be once renovations are complete. United Properties, which is based in Bloomington, Minn., is working with design company Shea Inc. on the renovation plans.

In a written statement, United Properties said that it will renovate the space with “a design consistent with the plans for the adjacent retail space.”

“We are excited to revitalize this part of Nicollet Mall and currently are evaluating a variety of tenant uses,” said Bill Katter, executive vice president of United Properties in a written statement. “We will deliver a large block of space on Nicollet Mall at a time when the market is increasingly looking for these unique opportunities.”

United Properties plans to finish the building’s renovations by the end of this year.

Source: Business Journal