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Element represented the sale of 3101 E. Franklin Ave, the longtime home of Close Architects and a beloved Mid-Century Modern landmark in Minneapolis' Seward neighborhood. More than a disposition, the project centered on finding the right steward—one who appreciated the building's architectural significance and would carry its legacy forward.
Opportunity & Challenges
After decades of ownership, Gar Hargens was ready to pass the building on to its next chapter. While achieving a successful sale was important, preserving the building's architectural integrity was equally critical. The challenge was identifying a buyer who recognized the property's unique design, respected its history, and shared the owner's vision for its future.
Approach
Element developed a targeted marketing strategy that celebrated the property's Mid-Century Modern architecture and appealed to design-conscious owner-users rather than positioning it as a conventional office building. The team worked closely with ownership throughout the transaction and collaborated with Steven Pierce of The Bridge Realty to successfully negotiate a sale that aligned with the seller's long-term preservation goals. To protect the building's legacy, the purchase agreement included a preservation restriction prohibiting demolition or exterior alterations during the seller's lifetime, with limited exceptions for maintenance and required improvements.
Results
→ Successfully represented the disposition of an iconic Mid-Century Modern office building
→ Matched ownership with a buyer who valued the building's architectural significance
→ Implemented a strategic marketing campaign focused on design, history, and long-term stewardship
→ Negotiated preservation protections to safeguard the building's exterior character
→ Coordinated a collaborative transaction that aligned ownership, buyer, and brokerage partners
→ Preserved a distinctive piece of Minneapolis architectural history for future generations
