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The Andrus

DETAILS

140,000 RSF
Historic Office Building
11-Stories
Address: 520 Nicollet Mall, Minneapolis, MN

DESCRIPTION

Completed in 1898, The Andrus is a historic office property in downtown Minneapolis totaling 140,000 square feet. Originally created as a retail center, it is the oldest building on Nicollet Avenue and at 11 stories tall, it was considered a skyscraper when it was first built.

Today, the building connects to the skyway and offers underground executive parking, along with a host of other tenant amenities. The building’s new owners committed to additional capital investments in 2024, including new amenities and a spec suite program.

REDLINE ROLE

Asset Manager I Property Manager 

CONTACT INFO

Geoff Halverson
612.756.2702
GH@RedlinePropertyPartners.com

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      Asset & Property Management

      The tenant experience is the central focus of our management approach, allowing us to attract and retain valued tenants. In this ultra-competitive marketplace, where real estate is increasingly commoditized, our consumer-focused approach is the best way to maximize asset profitability.

      Redline champions a consumer-focused philosophy where superior operations and tenant experience are the most important elements in real estate ownership.

      Redline is committed to being a best-in-class real estate operator and an industry leader when it comes to customer service and tenant experience.

      Redline strives to be unsurpassed in delivering best-in-class service, combined with distinctive real estate.
      We will always provide the best overall value to our tenants.

      Investment Philosophy & Strategy

      Our philosophy

      Redline believes the preeminent opportunity for real estate investment is to acquire underperforming, distressed and “broken” assets at a significant discount in order to transform them into spaces adapted for the new economy. This investment philosophy – to seek and seize overlooked opportunities – drives everything we do.

      Our strategy

      Guided by our philosophy, our investment strategy is to capitalize on “special situation” opportunities in mid-cap-sized projects (e.g. $10- $70 million).

      Vital to Redline’s strategy is its careful market concentration. By focusing on a limited number of tactically selected markets, Redline constructs a balanced, risk-mitigated portfolio using location, property type and tenant industry as diversification tools.

      Asset & Property Management

      Redline elevates the tenant experience with best-in-class service and a differentiated product that helps tenants grow their businesses.

      We believe that shrewd investment management is the key to maximizing property performance and investment value. Thus the foundation of Redline’s investment strategy is our distinctive approach to Asset & Property Management.

      By concentrating on key markets in the Carolinas and Minnesota, Redline maximizes its competitive advantage.

      Geographic Concentration

      Redline carefully selects its target markets, focusing on metros in the Carolinas and Minnesota with significant growth characteristics, including Charlotte, Raleigh-Durham, Greenville and Charleston in the Carolinas and Minneapolis and Rochester in Minnesota.

      These markets are characterized by higher-than-national-average population growth, median household income growth, housing starts and job creation. They also exhibit uncorrelated, divergent economies and business-friendly local governments.

      By combining these markets, we mitigate portfolio risk, balancing the rapid growth and volatility of the Southeast with the stability of the Midwest.

      Redline concentrates on high-growth metro markets in the Carolinas and Minnesota.

      Our extensive experience in target markets gives us deep local knowledge and relationships that are crucial to our ability to execute the Redline investment strategy.

      By concentrating on select markets, Redline maximizes its competitive advantage.

      Contact Redline

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      Investment Strategy

      Redline believes the preeminent opportunity for real estate investment in the current market is to concentrate on developing and acquiring underperforming office, industrial and flex properties in select U.S. markets (so called “value-add”). Additionally, such value-add projects that are considered mid-cap in size (e.g. $10 to $50 million) inherently draw interest from fewer buyers, allowing well capitalized and experienced real estate investors to act with fewer competitors.

      Strategy

      Redline’s core competency remains its ability to create and implement value-creation strategies that improves asset quality and maximizes property value.

      Vital to Redline’s strategy is its careful selection of and concentration in investment markets. By focusing on a limited number of tactically selected markets, Redline can construct a balanced, risk-mitigated portfolio using location, property type and tenant industry as risk diversification tools.

      With this rationale as a primary focus for investment strategy, Redline utilizes its strategically located offices and network of relationships in order to uncover and in many cases create opportunities in the marketplace not properly recognized by competitors.