Onward Investors and Willow Peak Partner to Acquire 300 North 1st Avenue, Investing in Minneapolis’ Downtown Renaissance

Minneapolis, MN — November 6, 2024 — Onward Investors and Willow Peak closed on 300 North 1st Avenue, a historic five-story building in downtown Minneapolis that serves as a key component in Willow Peak’s strategy to bring renewed energy and vibrancy to the city’s core.

Built in 1887, 300 North 1st Avenue is a 96,428-square-foot building at the intersection of the North Loop, Warehouse District, and Gateway District. Currently 53% leased to global enterprise software company Anaplan, it has availability for additional tenants and offers flexible floor plans and 27 parking stalls. Historically, the property served as the headquarters for Supervalu and housed Café Brenda, Minneapolis' first vegetarian restaurant.

“This acquisition is part of our commitment to taking tangible steps that bring economic vitality back to Minneapolis,” said Erin Fitzgerald, Founder and CEO of Willow Peak. “Our investment in 300 North 1st Avenue is about setting a foundation for sustained growth, where businesses and community life can flourish side by side. We’re excited to be part of the movement bringing people back to downtown.”

Jon Lanners, Partner at Onward Investors, added, “The strategic acquisition of 300 North 1st Avenue aligns with our investment philosophy of opportunistically capitalizing upon market dislocation. We are enthusiastic about partnering with Willow Peak to acquire this quality asset and play an active role in Minneapolis’ revitalization.”

Setting a Course for Minneapolis’ Downtown Revitalization

Willow Peak envisions 300 North 1st Avenue as an anchor in a reenergized downtown, demonstrating the opportunity to blend workspace, retail, entertainment, and wellness concepts to attract foot traffic and bridge to the heart of Minneapolis. This property has the potential to showcase the city’s capacity as a hub for innovation, community, and vibrant city living.

Experienced Leadership for Impactful Results

Willow Peak’s approach of unlocking value in underutilized properties aligns with Minneapolis’ Downtown Action Plan and the city’s vision of a vibrant, sustainable downtown. In partnership with Onward Investors, Willow Peak aims to actively participate in Minneapolis’ renaissance.

For more information about Willow Peak and its commitment to urban revitalization, please visit willowpeak.com or contact erin@willowpeak.com. For more information about Onward Investors please visit onwardinvestors.com or contact Jon Lanners jlanners@onwardinvestors.com.

About Willow Peak:

Willow Peak is a Minneapolis-based commercial real estate consulting, development, and investment firm whose mission is to revitalize American cities through strategic property acquisitions. Specializing in the transformation of downtown office properties, Willow Peak creates vibrant, multi-functional spaces that drive economic and social growth.

About Onward Investors:

Based in Minneapolis, Onward Investors is an alternative investment firm specializing in real estate-related opportunities. Founded in 2011 to capitalize upon dislocation in the wake of the Global Financial Crisis, the firm marries deep asset class expertise with comprehensive credit and equity investing capabilities.