October 11, 2022

A North Loop Revival

The North Loop is on fire as new retail tenants flock to the area, bringing positive energy to an historic area of Minneapolis.

A vibrant, bustling, historic urban district with a sizable residential population, the North Loop is seeing a diverse group of new tenants - including retail, restaurant, and speakeasy concepts who are opening in 2022 and early 2023. As a result, this community continues to grow and re-energize; it’s a great time to be involved in the North Loop neighborhood. 

The area has been in the news consistently over the last number of weeks and months, as leasing and purchasing announcements continue to flow in. Women’s athleisure brand Outdoor Voices and plant-forward salad spot Sweetgreen are opening in the Colonial Warehouse building. Martin Patrick 3, the nationally renowned apparel and furniture store, is expanding for the 6th time in Colonial Warehouse. MP3 is moving their interior design offices and corporate headquarters to the building’s former tenant lounge, allowing MP3 to significantly expand their women’s apparel lines. With their recent move into the Pacific Flats building at the highly visible corner of 3rd and Washington Avenue, men’s clothing store Jaxen Grey has greatly expanded its fantastic mix of brands at affordable prices.

The 1st Street North Loop area is in the throes of a reinvigoration, which includes exciting new restaurant spaces, as well as a boutique hotel. The Bachelor Farmer building was officially sold to restaurateur Daniel Del Prado, whose vision includes an Argentinean and Patagaonian steakhouse. Prominent chef David Fhima and family are opening a Moulin Rouge-themed restaurant, speakeasy, and event space in the historic Ribnick Fur building just down the street. And just announced, local hotspot Billy Sushi is opening a speakeasy below it’s current restaurant. In addition to these new trendy spots, construction of a luxury boutique hotel is underway at the corner of 1st Street and 2nd Avenue. The West Hotel, located at the site of the old Commutator Foundry, promises a stone cellar cocktail bar, a Mediterranean-focused bakery, leased retail space, and a Basque-inspired restaurant by Chef Tim McKee. 

The former Muse Event Center, located at the corner of 1st Street and 3rd Avenue, was recently purchased by Asana Partners, who is working to convert the building into office and retail spaces. The former Muse building will house creative office space on the 2nd and 3rd floors, while the 1st floor will be converted to 3 different retail spaces. Element is leading the leasing efforts on the retail portion of the building and seeing enormous interest from retailers. We expect the street to turn into a dynamic shopping destination by the summer of 2023! 

Looking for a work out, a night out, or perhaps some retail shopping? More than ever, the North Loop has you covered. Element will continue to contribute to the revitalization of this area, ensuring the history and charm of the neighborhood keeps up with modern times. It’s an exciting time to be a part of this historic neighborhood and we encourage people to support these small businesses who play a vital role in the new energy of the area. For more information regarding Element’s commercial listings in the North Loop, including the Muse Event Center, Pacific Flats, Lowry Morrison, and Colonial Warehouse, please visit the properties page on our website.

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