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We’re excited to share that Element is part of a local ownership team that acquired The Consortium Building at 322 First Avenue North in Minneapolis. A contributing structure in the Historic Warehouse District, The Consortium Building is the home of The Fine Line Music Café, a cornerstone of the city’s downtown entertainment corridor—and we’re proud to be part of its next chapter. The building also houses Club Gidi on the ground floor and a mix of creative businesses on the upper floors.
After over a decade as a tenant in The North Loop, Element is thrilled to invest in a building that holds deep creative and cultural significance in the city. The Element team will provide on-site property management, leasing and project management services.
This is Element's second building ownership investment—our first is located at 117 Washington Ave N, a historic North Loop property Element redeveloped into a vibrant mixed-use space that we still manage today. That experience laid the groundwork for this next chapter, and we’re excited to continue shaping downtown’s creative core.
This purchase also builds on recent momentum in the Warehouse District led by local businesses, the City of Minneapolis, and the Minneapolis Renaissance Coalition. Over the past few years, Element has completed leases and projects along First Avenue including the addition of Shinebox, Hermine, Lola Red and the redevelopment of 21 Third Street North. Together, these projects represent the growing energy along First Avenue, where creative businesses, independent retailers, and historic buildings intersect.
We’re excited to grow our portfolio with a property that reflects the values we bring to every project: community, creativity, and long-term investment. Stay tuned as we begin this new chapter in the heart of Minneapolis!
bizjournals.com/twincities/news/2025/07/21/fine-line-first-avenue-music-venue-minneapolis.html
startribune.com/fine-line-building-acquired-by-first-avenue-ownership-group/601440755
