CenterPoint Energy has signed an agreement with United Properties to purchase the former Neiman Marcus property at 505 Nicollet Mall.
"CenterPoint Energy considered our customers, employees and community when making this purchase," said Joe Vortherms, division regional vice president of CenterPoint Energy, in a statement. "The purchase of this particular property allows us to remain easily accessible to the largest city for which we live and work. We are committed to the City of Minneapolis, to being a good neighbor and to maintaining a positive presence in the community."
United Properties plans to complete renovations to the four-story, 100,000-square-foot building by spring 2014, according to Jessie Folkens, communications manager for United Properties.
The space will be home to 255 CenterPoint Energy employees.
"The renovations we will complete ensure that the property will be transformed into a unique place to work right on Nicollet Mall, taking full advantage of surrounding amenities including light rail, skyway connections, retail and food opportunities and great visibility,” said Bill Katter, executive vice president of United Properties. “We are pleased to have the opportunity to work with a major corporation such as CenterPoint in relocating, bringing a significant number of jobs into the heart of Minneapolis and supporting the other businesses on Nicollet Mall.”
Neiman Marcus closed its four-story store earlier this year.