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The Landmark Saint Paul Athletic Club Building 288002

Property Overview

Price/Rent PSF Inquire
Asset Type Office
Trade Type Sale & Lease
SQ. FT. Available Inquire
Date Available 03/09/2022
Additional URL Link
Floors 8
Building size 226810
Search Demographic Data LandCheck Explore financing options
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Description

Location
The Property is located in the center of the Saint Paul Central Business District between the Xcel Energy Center, the Ordway Center for the Performing Arts, Rice Park, and the Lowertown Arts District.



Saint Paul is the capital city in the state of Minnesota and is one half of the Twin Cities (along with Minneapolis), the 16th largest MSA in the United States with a population of approximately 3,600,000 inhabitants. Saint Paul's core downtown area, located in Ramsey County, has seen unprecedented growth in the past couple of years, especially in the residential sector. The number of residential units in the downtown district is expected to climb to 8,100 over the next few years, compared with 5,500 units in 2010. The average monthly apartment rental rate has risen nearly 13 percent over the past two years to $1.74 per foot, with the average vacancy rate at 4 percent. There is no sign of a slowdown in growth.



The Metro Green Line, which connects the Union Depot in Saint Paul to Target Field in Minneapolis, has five stations in downtown Saint Paul and had ridership of 12.4 million in 2015. The line provides easy access to University Avenue, Dinkytown (the campus of the University of Minnesota), and Downtown Minneapolis. The Property is adjacent to the Central Station of the Metro Green Line. The Xcel Energy Center, the home of the Minnesota Wild, attracts roughly 1.5 million visitors per year. The Saint Paul RiverCentre has hosted more than 3,000 events since its opening in 1998, and is the host of numerous national and international conferences and conventions.



Saint Paul's proximity to Minneapolis, and the slew of re-development projects that continue in the downtown core, makes it a very attractive place to live and play.

Sale
SVN | Northco is pleased to present for sale and lease the historic Saint Paul Athletic Club Building in downtown Saint Paul, Minnesota ("Property"). This iconic Property has been an integral part of St. Paul's community and social fabric since 1917.



The Property is comprised of two separate buildings: the 1917 building and the 1980 building, and there are numerous lines of business within the buildings, including banquets, a boutique hotel, a world-class fitness center (currently being repositioned), tenant space, and a rooftop bar (or other) development opportunity. In addition, an RFP has been issued for an adjacent parcel for development: the Central Station Block. The Property is located in the Central Business District of St. Paul, just a few blocks from Rice Park and the Lowertown Arts District, and it is adjacent to the LRT Green Line Station (the station is on the same block). The seller is looking for a strategic partner, and there are a number of potential structures for a sale or partnership.

Lease
The historic Saint Paul Athletic Club Building ("Property") is located in downtown Saint Paul, MN, and currently offers two distinct office or retail spaces for lease, and one office / training center. This landmark building also houses Hotel 340, a 56 room, award-winning boutique hotel, and numerous beautiful event spaces.



The Property is centrally located in the CBD, and connected by skyway to two adjacent parking ramps, and all that downtown Saint Paul has to offer.

Location (Click here to view the location on the map.)

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The information above is from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice.

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