MINNEAPOLIS, M.N. Jan. 24, 2024—Following a sale to new ownership last year, real estate investment and management firm Redline Property Partners announced today that it will remain on board as the asset manager and property manager for the Barrel House—a landmark fixture in the famed Minneapolis Mill District. Redline said it will build on the prior owners’ vision to continue transforming the historic property.
Situated at the 3rd avenue bridge entrance with stunning views of the waterfront, Barrel House enjoys a prestigious riverfront address, prominent visibility and convenient access to all major highways and to downtown’s housing, hotels, shopping, dining and entertainment.
“Barrel House meets the needs of today’s office tenants, providing an unrivaled location in downtown Minneapolis, unique amenities and an exceptional experience at great value,” said Andrew Webb, Redline’s president and managing partner. “The building’s new owner, along with Redline, will continue to invest in Barrel House to ensure its place as a top-tier creative office property in downtown Minneapolis for years to come.”
New amenities and upgrades planned for Barrel House include upgrading its rooftop deck, converting space for retail and entertainment use and creating spec suites and a podcast room. Improvements are planned for early 2024, with anticipated delivery mid-year.
Redline was part of the previous ownership group that purchased and restored the historic 90,000-square-foot mill building to its original “brick and timber” roots in 2016. The group also added significant modern-day amenities such as an outdoor roof-top deck overlooking the Mississippi River, an indoor atrium lounge and multiple meeting spaces throughout the building.
Built in 1880, the Barrel House was originally home to Hall and Dan Barrel Co., which made flour barrels for the booming Minneapolis milling industry.
To deliver the best service possible, Redline has engaged CBRE and Assembly as the property’s new leasing team. Team members include Ann Rinde and Joe Conzemius from CBRE and Nick Peterson and Merrie Sjogren from Assembly.
“Environments that foster connection and community are top priority for companies in the market right now, as organizational culture is more important than ever,” said the new primary leasing representative for Barrel House, Ann Rinde of CBRE. “Barrel House provides the perfect setting to achieve these goals with its inspiring onsite experience, collaboration-based amenities and prominent location along the riverfront. We look forward to welcoming new tenants to the Mill District and to Barrel House.”
About Redline Property Partners
Founded in 2017, Redline Property Partners is a privately-owned commercial real estate investment, management and development firm specializing in office, creative office / flex and adaptive reuse projects in the Carolinas and Minnesota. Led by a team of industry veterans with an average of 30 years of experience and more than $8 billion of combined transactions, Redline employs innovative strategies to improve asset quality and maximize property value. Using a “block-by-block” granular approach, Redline finds great real estate suffering from short-term distress and transforms properties into spaces adapted for the new economy.
