Midwest

MINNEAPOLIS — A partnership between locally based developer Mortenson and The University of Minnesota Foundation Real Estate Advisors (UMFREA) is in the planning stages of a 12-acre mixed-use village on the eastern edge of the University of Minnesota’s Twin Cities campus. The project, which will span 3 million square feet, is named The Minnesota Innovation Exchange, or “The MIX.” Located in Minneapolis, the development site is bounded to the north by the school’s Biomedical Discovery District and the football stadium, Huntington Bank Stadium. The MIX is bounded to the south by the university’s future clinical campus expansion. Mortensen and UMFREA, which oversees the real estate decisions of the University of Minnesota Foundation, recently selected commercial real estate services giant CBRE to lease The MIX. At full build-out, the private development will include research-and-development space, creative offices, hotel rooms, apartments, shops and restaurants. The project team, which includes architectural firm HGA, hopes to attract life sciences users to The MIX to capitalize on the Twin Cities’ reputation as a hub for health and science activity, including a concentration of medical device manufacturers headlined by Medtronic and 3M. “This is an incredibly exciting opportunity for prospective tenants to participate in the most unique …