Colliers‘ Minneapolis-St. Paul’s Capital Markets team of Mox Gunderson, Dan Linnell, Devon Dvorak, and Adam Haydon represented Greco in the sale of ElseWarehouse, located at 730 N. Washington Ave. in Minneapolis, to North Dakota-based Great States Development.

The transaction marks the first time that these historic warehouse apartments have ever hit the market. “This was a rare opportunity to acquire a marquee property in Minnesota’s top micro market, which is also recognized as one of the top-performing micro markets nationwide,” said Gunderson.

Located in the city’s North Loop neighborhood, ElseWarehouse boasts 100% concrete construction. The 116 residences – a variety of one-, two-, and three-bedroom units – feature 10’ plus ceilings, distinctive exposed brick accents, and floor plans averaging 907 square feet.

Greco converted the 1920s warehouse into chic abodes in 2012 – one of the first developers to embrace adaptive reuse in the coveted North Loop. “We are thrilled to announce the acquisition of this iconic property in the heart of Minneapolis’ vibrant North Loop neighborhood,” said Scott Houle, vice president of Great States Development.

An office building built in 1904 between Nashville Yards and Lower Broadway is on the block. 810 Broadway, the 5-story 88,000-square-foot brick building has been revamped enough over the years to remain viable.

The asking price is $34 million. Crews Johnston, Charlie Gibson and George Mullowney are handling the sale for Cushman & Wakefield.

The Broadway building is recognizable by the red “Morgan & Morgan” sign on the outside. The law firm has long been the anchor tenant of the office building but will be relocating to a 19,500-square-foot space in One Nashville Place.

The seller’s agents suggest that a buyer could convert the building to an apartment, hotel or restaurant.

Nashville-based Magnolia Investment Partners owns the building. In 2021, the firm paid $16.5 million for the 0.4-acre site. The seller was an LBCW, which paid $11.36 million for the building in mid-2018. The building sold in 1982 for $665,000.

The developers behind the Empire Hotel are embarking on a $25 million remake of the building. The project calls for redeveloping 100,000 square feet at 228 S. Main St. Upon full buildout, the project will include 38 residences, a 35-room boutique hotel and possibly a steakhouse. Iron Horse Development is heading up the project in Salisbury, 20 miles north of Charlotte.

The Charlotte Business Journal reports the first phase of the project will be named Empire Row, which includes two row homes and seven full-floor lofts. The residences will be for rent and then sold after five years. The project will be built in three phases.

The Empire Hotel opened in 1859 and was remodeled in 1907. The hotel was then permanently closed in 1963.

Iron Horse Development says it focuses on historic buildings and the acquisition, entitlement, design and development of small—to medium-sized multifamily projects with 2 to 50 units. 

GlossGenius, a financial technology company that powers the self-care industry through its spa and salon software, has leased 13,619 square feet of office space at 838 Broadway, a landmarked property owned by ZG Capital Partners. The company’s relocation from SoHo represents the first transaction in the building following ZG Capital’s recently completed full-building renovation.

Originally designed by Stephen Decatur Hatch in 1876, 838 Broadway was built on the site of President
Theodore Roosevelt’s great-great uncle James T. Roosevelt’s home. Ownership engaged architecture firm Spectorgroup to execute a gut renovation of the 80,000-square-foot boutique asset.

A JLL agency team led by Vice Chairman Mitchell Konsker, Executive Managing Directors Benjamin Bass
and Greg Wang and Associate Vice President Thomas Swartz represented ZG Capital Partners in the
transaction. Senior Vice President Joseph Sipala, Associate Vice President Hannah Bernstein and Associate
Stefanie Rock represented GlossGenius.

“ZG Capital’s vision to revitalize this historic property with a hospitality-infused design has combined the
building’s timeless elegance with design elements and modern finishes that create a superior office
environment for contemporary space users,” said Konsker

Community Preservation Partners (CPP), a mission-driven affordable housing preservation developer, announced the $54-million acquisition and planned renovation of Green Hotel Apartments, an affordable senior apartment complex in downtown Pasadena. This is CPP’s 15th community in the greater Los Angeles area and the 41st in the state.

Located at 50 E. Green St. and built in the 1890s, the 139-unit Green Hotel Apartments is listed on the National Register of Historic Places and is a Pasadena Historic Monument. CPP’s total development investment is approximately $100,000,000, which includes the $54-million purchase price and an estimated per unit renovation cost of $115,000. 

“Green Hotel Apartments is a unique opportunity for CPP to renovate a historic property with modern systems while carefully restoring the exterior to its original historic charm and architectural integrity,” said CPP president Seth Gellis. “Our experience in historic affordable housing preservation provides us with an asset which we look forward to utilizing on Green Hotel.” 

A turn-of-the-century navy storehouse has been converted into 78 boutique live/work units, including studio and one-bedroom apartments ranging from 540 to 930 square feet. Called Storehouse 9, the 100-year-old, four-story brick building blends original industrial architecture with modern utilitarian design elements.

Exposed brick walls, concrete floors, original concrete mushroom columns, and historically replicated steel-frame windows run throughout the building. In keeping with its authenticity, historic details such as large window openings and original staircases and balustrades were carefully restored. 

Storehouse Nine is part of a broader redevelopment led by Jamestown and local Charleston real estate developers Weaver Capital Partners and WECCO Development. The multi-phase redevelopment will transform an 85-acre portion of the former naval base into a mixed-use neighborhood.

The building is positioned alongside Storehouse Eight, which will be reactivated in the coming months with office and an event venue, as well as additional retail, restaurants, and design showrooms. 

Radom Capital and Triten Real Estate Partners are ready to go on their adaptive-reuse project at 621 Waverly St. The two Houston-based companies plan to transform the former Swift and Co. meat refinery plant at 621 Waverly St. into a 60,000-square-foot mix of retail and creative office space that will also have up to six restaurants. The property is next to M-K-T, a mixed-use project Triten and Radom redeveloped in 2021.

The Austin Business Journal reports the buildings that Radom Capital and Triten Real Estate Partners acquired were built in the early 1900s and added to in the 1950s. The two companies hired the Austin-based Michael Hsu Office of Architecture to design the project.

On the ground floor, Radom Capital and Triten Real Estate Partners hope to bring in a French bistro. Moving west, the property has a two-story component, which accounts for most of the square footage. The second floor of that section will be split between a rooftop cocktail bar and boutique offices. The final component is a freestanding building that once served as Swift’s fat-rendering facility.

A historic, independent hotel will be ready to open this summer on West Peachtree Street following months of renovations. Spanish Colonial-inspired Hotel Granada will offer 120 rooms and an open-air courtyard with multiple options for lounging, drinking, and dining. It used to be known as The Artmore.

Bookings, which begin in September, start at $229 per night for a king room. 

Located at 1302 W. Peachtree Street, the building originally opened in 1924 as the Granada Apartments and was converted to hotel uses in 1984. Prior to closing, it was Midtown’s only independent boutique hotel, stylized with a Spanish-Mediterranean red tile roof, stucco façade, and open courtyard.

Hodges Ward Elliot, a real estate advisory firm, arranged the hotel’s $21.1-million sale in 2022. Aparium will manage the hotel. Scarp Ridge Capital Partners and Monomoy Property Ventures led the Hotel Granada renovation. 

Ken Gowland of architecture firm MetroStudio led design and preservation work that updated the property’s stucco façade, distinctive roof, courtyard fountain, and a “Granada” mosaic tile inlay at the entrance. 

The Coliseum Theater in downtown Seattle, one of the city’s historic landmarks, is headed to auction.

The 36,904-square-foot retail building, which is listed on the National Register of Historic Places, is going up for auction next month, according to the Puget Sound Business Journal. Newmark has listed the property with a starting bid of $2 million, and Ten-X Commercial will be the auctioneer. The seller is a company based in Iowa that bought the property in 2007 for $13 million.

Located at 1508 5th Avenue, The Coliseum was originally built as a state-of-the-art cinema in 1916 and later became a Banana Republic store. The 16,200 square feet of leasable space is currently fully occupied by Actualize AiR, a gallery and event space, and an espresso coffee shop. The Coliseum is situated in the heart of downtown, close to Nordstrom’s flagship store, Pike Place Market, the Washington State Convention Center and Amazon’s world headquarters.

Another historic office structure with good bones has been picked up for a likely conversion to apartments. The Samaroo Group purchased the downtown Nashville’s Morris Memorial building. The Nashville Business Journal reports the iconic four-story structure on MLK Boulevard sold for $6 million.

The 0.38-acre property once was the site of the city’s largest slave-trading business. Decades later, the National Baptist Convention commissioned the construction of the building in 1922. They’ve held it since then.

Samaroo properties in Nashville include The Brownstone’s, a residential condo community; The Lofts, a rental community, the Student Apartments and the The Commons, a shopping and dining option.

Numerous developers have purchased old brick mills and stone warehouses to turn into either office, residential or retail options.