Stay in the Loop

Schafer Richardson recently began to renovate the Weather-Rite building in the North Loop into new office and retail space.

The adaptive reuse project, located a few blocks north of Target Field, will result in 52,000 square feet for new users.

The downtown Minneapolis-based developer had previously pitched an 11-story office redevelopment called @mosphere on the block, but Schafer Richardson backed off from the project earlier this year.

Maureen Michalski, director of development, said they will demolish a second-story component of the building. She said they plan to complete the building renovation this November and will be able to move tenants in that month. The former industrial space is flexible and could be used by one or several tenants, Michalski added.

“It’s pretty wide open for subdividing,” she said. “It ranges from a single user to many multiple users.”

Schafer Richardson hasn’t disclosed any leases related to the project, which it refers to as its address, 700 5th.