A vibrant hub for work, food and community gathering has become the go-to spot in downtown Minneapolis.
North Loop Green, a mixed-use development in the heart of Minneapolis' North Loop neighborhood, earned a 2025 CoStar Impact Award for development of the year in Minneapolis-St. Paul, as judged by real estate professionals familiar with the market. The 14-story office building opened in June and overlooks Target Field, home of the MLB's Minnesota Twins.
North Loop Green's office space is 70% leased, and its institutional-quality tenants include Värde Partners, KPMG and ESG Architecture & Design.
On the street level, North Loop Green has several food and beverage stops, including Bassett Hound, a dog-friendly bar with a patio that serves beer on tap and appetizers; Salt & Flour, Minneapolis chef Brian Ingram's modern Italian restaurant; and Hope Breakfast Bar, Ingram's all-day, popular breakfast eatery.
North Loop Green's public outdoor space, The Green, was converted from a former railroad changing yard and is a hub for community events, public gatherings and employee collaboration. In its first summer and fall months in 2024, the Green hosted more than 100 outdoor community events such as movie nights, fitness classes, local markets and more.
About the project: North Loop Green at 350 N. Fifth St. in Minneapolis is a 14-story, five-star office building on a 3.4-acre lot with 365,000 total square feet. Construction on the building started in November 2021.
What the judges said: "A successful development which may be the last large downtown Minneapolis commercial development for many years," said Keith Sturm, CEO and principal at Upland Real Estate Group.
"NLG is a Class-A project that has successfully attracted office population during trying times and the activated park has made a substantial impact on pushing the boundaries for foot traffic in the area," added Tony Strauss, a senior vice president at Transwestern.
They made it happen: The Hines ownership team of Bob Pfefferle, Michelle Horgan and Nichole Oswald; Eric Nordness of Marquee Development; and Brent Robertson of JLL.