MINNEAPOLIS, M.N. Jan. 31, 2024—Redline Property Partners, a leading real estate investment, development and management firm, announced today its new role as asset manager of the iconic Andrus building in downtown Minneapolis.
Completed in 1898 and originally designed as a retail hub, The Andrus is the oldest building on Nicollet Avenue. At 11 stories tall, it was considered a skyscraper when it was first built.
Previous owners renovated the sky-connected, 140,000-square-foot building several years ago, and Redline said it will execute on the new owner’s vision to continue investing in The Andrus with capital improvements that include additional amenities and a spec suite program. Existing amenities at The Andrus include a skyway connection and underground executive parking.
“Redline Property Partners is honored to assume responsibility for managing The Andrus, an architectural gem with a storied past,” said Andrew Webb, Redline’s president and managing partner. “We look forward to building on The Andrus’ legacy, contributing to the vibrancy of downtown and enhancing the tenant experience going forward.”
To deliver the best service possible, Redline has retained CBRE as the property’s leasing team. Team members include Ann Rinde, Joe Conzemius and Larissa Bodine.
“The Andrus provides the perfect setting for companies whose employees desire a more intimate office space experience in the heart of downtown Minneapolis,” said Ann Rinde of CBRE. “We look forward to partnering with Redline Property Partners to continue to elevate the onsite experience for tenants and prospective tenants.”
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.
