Repositioning The Consortium: Ownership, Leasing Strategy & Creative Reinvestment in the Warehouse District

Since acquiring The Consortium building in partnership with First Avenue in Summer 2025, Element has taken on a new role - not just as advisors, but as owners, operators, and stewards of a key property in Minneapolis’ Warehouse District.

This next chapter reflects a full-spectrum approach: combining landlord representation, project management, and strategic leasing to reposition the building for long-term success while contributing to the continued evolution of the First Avenue corridor.

A Hands-On Ownership Approach

As ownership partners, our team is actively managing day-to-day operations while identifying opportunities to enhance both tenant experience and long-term asset value. This includes:

• Coordinating building and security upgrades with minimal disruption to tenants
• Implementing aesthetic improvements to common areas and the building exterior
• Enhancing the building’s identity through intentional design and right size suite configurations

Recent updates include a refreshed exterior awning and facade, along with lobby and hallway upgrades that incorporate art, color, and historic music posters from First Avenue’s archive - tying the building more closely to its cultural context.

Strategic Leasing & Tenant Experience

Our leasing strategy is focused on supporting existing tenants while attracting new creative office users who align with the energy of the neighborhood.

With renewed activity along the First Avenue stretch, including new retailers and local concepts, we see strong momentum in the Warehouse District. The Consortium is well-positioned to capture that energy by offering:

• Flexible, character-rich office space
• A location rooted in Minneapolis’ vibrant entertainment core
• A landlord team actively invested in the building’s future

Project Management in Action: Element’s New Office

A key part of this repositioning has been leading the design and buildout of Element’s new second-floor office (Suite 200).

Acting as both client and project manager, our team guided the process from vision through execution, coordinating design, construction, and delivery to create a space that reflects how we work today.

The result is a bright, creative office environment that supports collaboration while grounding our team in the heart of the Warehouse District.

Looking Ahead

The Consortium represents more than a single project, it’s an example of how thoughtful ownership, strategic leasing, and design-forward reinvestment can work together to revitalize existing buildings and strengthen the surrounding neighborhood.

As we enter our next decade, we’re excited to continue building momentum — at The Consortium and beyond.