Xcel Energy, Inc.'s Renaissance Square Building, 512 Nicollet Mall, is on the market.
The building might be sold for a hotel, residential or retail conversion, said Paul Adelmann, a spokesman for Xcel Energy. The utility company is selling the building to consolidate offices. Currently, Xcel office employees work at three locations: the Renaissance Square Building and office buildings at 414 Nicollet Mall and 800 Nicollet Mall.
More than 11,000 Xcel office workers are headquartered Downtown, Adelmann said.
"We're looking at operational efficiency. [The Renaissance] building is not the most efficient office space because it's got an atrium in the middle of it. It's a charming building. We think it does have potential for other exciting uses," he said.
The Renaissance Square building is 10 stories and has 168,000 square feet of commercial office space. It's located adjacent to the LRT line on South 5th Street.
According to a Oct. 14 Star Tribune article, real estate observers estimate that the building could go for $10 million.