by Dan Rafter
Ryan Companies continues to make an impact in Minneapolis’ downtown, breaking ground this month on the Millwright Building at Third Street and Portland Avenue. The new building is part of Ryan’s $450 million mixed-use Downtown East development.
This development, located near the new US Bank Stadium, will bring a mix of housing, office space, hotels and retail to a formerly neglected slice of downtown Minneapolis. The 172,000-square-foot four-story Millwright Building is located adjacent to one of the new Wells Fargo towers in the project. The new Radisson RED Hotel will stand across the street from the building.
Ryan is making a commitment to the success of Downtown East with its plans to move its corporate headquarters to the Millwright Building once it is complete. Ryan will occupy about 65,000 square feet on the lower floors of the multi-tenant building. Construction on the new buiding is expected to wrap in the spring of 2017.
“We’re excited to begin construction on the Millwright Building,” said Collin Barr, president of Ryan’s North Region, in a statement. “Downtown East is quickly becoming one of the city’s iconic neighborhoods, and we are thrilled to deliver an architectural gem that embraces the history here and adds to the great character of this special place.”
The Millwright Building will offer the same skyway access enjoyed by the office buildings in the core of downtown Minneapolis. But this building will also offer access to The Commons, a new 4.2-acre public green space that is part of the Downtown East project.
Tony Barranco, Ryan’s vice president of development, said that companies when seeking to attract new talent more frequently have to point to modern office space with amenities. Office space in the Millwright Building will give companies the chance to dangle this kind of attractive space to top potential employees, Barranco said.
“With its authentic feel, pedestrian scale and tiered lobby, Millwright provides this unique combination of features that has produced a high level of interest from a wide range of prospective tenants,” Barranco said, in a statement.