Hines Breaks Ground in Minneapolis
Hines, a privately owned global real estate investment firm and sponsor of non-traded alternative investment programs, began construction on the 220,000-square-foot T3 office development. T3, (short for timber, transit, and technology), is a seven-story mass timber office building developed by Hines in the fast growing North Loop neighborhood of downtown Minneapolis. T3 will be open in early fall 2016.
Inspired by the North Loop’s historic brick and timber buildings, and designed by Vancouver-based Michael Green Architecture in conjunction with the DLR Group, T3 offers more than 12,000 square feet of ground floor retail space and a 10,000+-square-foot tenant amenity area that includes a fitness center, a robust social workspace, more than 100 stalls of bike parking and an expansive rooftop patio. Office space on floors two through seven is filled with abundant natural light from large industrial inspired windows on a flexible 34,000-square-foot floor plate.
“This office building combines the aesthetic, spatial volumes, and warmth of older brick and timber buildings, with state-of-the-art amenities and systems. This combination of ‘old and new’ allows for high densification and meaningful recruitment and retention benefits for T3’s occupants,” commented Hines managing director Steve Luthman.
Hines Director Bob Pfefferle added, “This project is located in the coveted North Loop neighborhood that embodies the live, work, play lifestyle that progressive tenants are seeking in order to recruit and retain today’s knowledge workers.”
Hines is a privately owned global real estate investment firm founded in 1957 with locations in 185 cities in 19 countries. Hines has $84.9 billion of assets under management, including $42.7 billion for which Hines provides fiduciary investment management services, and $42.2 billion for which Hines provides third-party property-level services. In 2014, Hines completed more than $8 billion in transactions on behalf of its investment management clients.
