Midtown Exchange

A piece of Minneapolis history comes alive again
Built in 1928 as a massive retail and distribution center for Sears, this art deco monolith sat vacant from its closing in 1994. The City of Minneapolis acquired the property in 2001 after previous attempts to convert the site fell through. In 2004, Ryan was awarded the development rights to convert the former Sears site into a vital, mixed-use development in the heart of Minneapolis' Midtown district. 

418,000 square feet of office space in the development is occupied by Allina Hospitals and Clinics, the largest non-profit health care provider in Minnesota. A public market and business incubator called the Midtown Global Market, developed by a consortium of non-profits led by the Neighborhood Development Center, occupies 71,000 square feet alongside 12,000 square feet of additional retail/service space.

Sherman Associates and Project for Pride in Living developed more than 219 affordable and market rate apartments and more than 88 condominiums occupying 11 floors of the historic building, as well as 57 townhomes and flats in buildings lining the outside of the project's parking ramp. A 136-room, full-service on-site Sheraton® Hotel is also a part of Midtown Exchange. Connected by walkways to the already existing Abbott Northwestern Hospital, the hotel primarily serves hospital visitors, patients and their families as well as a host of corporate guests.

 Awards

• Affordable Housing Finance Magazine’s 2007 Readers’ Choice Award, Best Historic Rehab
• American Institute of Architects (AIA) 2007 Minneapolis Merit Award
• Design-Build Institute of America’s (DBIA) 2007 National Merit Award for Best Renovation/Rehabilitation
• National Association of Industrial and Office Properties (NAIOP) Award of Excellence for Best Repositioned/Renovated Over 100,000 SF
• 2006 National Trust/HUD Secretary Award for Excellence in Preservation
• 2006 Multifamily Executive Awards’ Project of the Year — Adaptive Reuse Midtown Exchange Apartments and The Chicago Historic Lofts
• Building Design & Construction‘s 2006 Reconstruction Award Platinum Level
• Heritage Preservation Committee’s 2006 Minneapolis Preservation Award
• International Design Association’s — Northland Chapter, 2006 FAB Award, Urban Blueprint: Best Residential
• International Design Association’s — Northland Chapter, 2006 FAB Award, Urban Blueprint: Best Retail Space 
• Minneapolis/St. Paul Business Journal’s Best in Real Estate Awards: Best Redevelopment/Extensive Renovation and Best Overall
• 2005 CREW (Commercial Real Estate Women) Deal of the Year Award