Press

Erin Fitzgerald, former JLL broker and founder of Willow Peak, launched her commercial real estate firm with a mission to revitalize downtown Minneapolis. Recognizing the opportunity presented by the post-pandemic market downturn and rising interest rates, Fitzgerald acquired her first property, a five-story office building at 300 1st Ave. N., in partnership with Onward Investors. This location, near the North Loop and Warehouse District, is positioned for transformation into a mixed-use space, with plans to blend office, retail, wellness, and hospitality. Fitzgerald also leads the Minneapolis Renaissance Coalition, a public-private initiative aimed at revitalizing downtown through collaboration and investment. She envisions a vibrant, resilient urban space, focusing on adaptive reuse of buildings to attract foot traffic and support local businesses. Fitzgerald is also pushing for tax incentives, like the CUB credit, to make projects more feasible, and sees this as a pivotal moment for shaping downtown’s future. Read Article

Erin Fitzgerald, Founder and CEO of Willow Peak, announced the firm’s acquisition of 300 First Ave. N in downtown Minneapolis, in partnership with Onward Investors. This five-story building marks the beginning of Willow Peak’s mission to revitalize the city’s core. Fitzgerald emphasized that the purchase is part of their broader commitment to economic growth, aiming to create spaces where businesses and community life thrive together. The building, currently 53% leased to Anaplan, is being considered for a mix of office, retail, entertainment, wellness, and residential uses. Located near the North Loop, the property is set to benefit from nearby infrastructure improvements. Willow Peak’s vision aligns with Mayor Jacob Frey’s Downtown Action Plan, which focuses on building reuse, filling vacancies, and activating public spaces to revitalize downtown Minneapolis. Read Article

Erin Fitzgerald, Founder and CEO of Willow Peak, and Onward Investors have acquired a 96,000-square-foot office building at 300 First Ave. N. in downtown Minneapolis as part of a broader strategy to revitalize the city’s core. This is Willow Peak’s first acquisition since its launch in 2024. The building, built in 1887, is 53% leased to Anaplan and has a rich history, including serving as the former headquarters for SuperValu. The new owners plan to reposition the property with a mix of uses, including office space, residential units, retail, entertainment, and wellness concepts. They are also exploring adding LED lighting to enhance the building’s façade. The property may be listed on the National Register of Historic Places to access historic tax credits. This effort aligns with the Minneapolis Renaissance Coalition’s vision of transforming the Warehouse District into a premier entertainment hub as part of the city’s downtown revitalization. Read ArticlePDF

In partnership with Onward Investors, Erin Fitzgerald, Founder and CEO of Willow Peak, has acquired the historic 300 North 1st Avenue building in downtown Minneapolis. This 96,428-square-foot property, located at the intersection of key districts, is critical to Willow Peak’s strategy to revitalize the city’s core. Built in 1887, the building is partially leased to Anaplan and offers additional tenant space and parking. Fitzgerald sees the acquisition as a key step in fostering economic vitality and community growth in downtown Minneapolis. The property will serve as a model for blending workspaces, retail, entertainment, and wellness, attracting foot traffic and contributing to the city’s transformation. With this investment, Willow Peak and Onward Investors are committed to advancing Minneapolis’ Downtown Action Plan and supporting the city’s ongoing renaissance. Read Release

Erin Fitzgerald, founder of the Minneapolis Renaissance Coalition and former senior director at JLL, has launched her own real estate company, Willow Peak, focusing on acquiring and redeveloping downtown office buildings. She plans to purchase financially distressed properties, starting in Minneapolis, and turn them into mixed-use spaces that include dining, wellness, co-working, and residential areas. Fitzgerald’s strategy is inspired by Warren Buffet’s philosophy to “buy when others are fearful,” and she aims to raise $10 to $20 million from investors to kickstart the venture. Her target properties are those no more than 200,000 square feet, located in entertainment districts, with the vision of creating family-friendly attractions downtown. Fitzgerald believes this initiative is not only a sound investment but also a socially impactful endeavor to revitalize urban areas. Read Article

Erin Fitzgerald founded the Minneapolis Renaissance Coalition last year to inspire developers, investors, and stakeholders to reimagine downtown Minneapolis. This year, she left her position at JLL to launch her own firm, Willow Peak, which focuses on commercial real estate consulting, development, and investment. Willow Peak aims to transform underutilized office buildings through a mixed-use strategy, offering a “holistic approach” to navigate the complexities of the current market. Minneapolis Mayor Jacob Frey praised Fitzgerald for her instrumental role in supporting the downtown area. Fitzgerald’s move comes amidst high office building vacancies, with the Minneapolis central business district’s vacancy rate at 22.6% and Class A space at 27.7%, accounting for 53% of the metro’s available sublease market. Read Article

Erin Fitzgerald, an industry veteran with over 20 years of experience, has launched Willow Peak, a commercial real estate consulting, development, and investment firm in Minneapolis. Formerly a senior director at JLL and a principal at Transwestern, Fitzgerald aims to transform underutilized office buildings through mixed-use strategies to revitalize the community. Willow Peak will offer tailored solutions to clients, focusing on navigating today’s market complexities while seizing growth opportunities. Fitzgerald’s leadership in the Minneapolis Renaissance Coalition, which includes 150 organizations, underscores her commitment to sustainable urban development. With a holistic approach to real estate, Willow Peak is poised to lead the charge in downtown’s revitalization, ushering in a new era of innovation and growth. Read Release

Erin Fitzgerald, leader of the Minneapolis Renaissance Coalition, is spearheading efforts to address downtown Minneapolis’s real estate challenges. The COVID-19 pandemic and rise of hybrid work have severely impacted office building values, which have dropped significantly. In response, Fitzgerald collaborated with Mayor Jacob Frey to form the Minneapolis Renaissance Coalition, now comprising over 150 members from public and private sectors. The coalition aims to revitalize downtown by converting underutilized office spaces and creating an entertainment hub in the Warehouse District. Their strategy involves advocating for public incentives, such as tax credits, to support these redevelopment efforts. Read Article PDF version available by clicking HERE

Erin Fitzgerald, senior director with JLL commercial real estate, believes in the potential to transform downtown Minneapolis and has formed the Minneapolis Renaissance Coalition to drive this vision. She argues that potential buyers need a compelling narrative to invest in Minneapolis. The Coalition, focusing on revitalizing the Warehouse District, has identified areas with high mortgage default rates, buildings suitable for conversion, and high crime areas. Plans include quick, cost-effective projects like a dog park and a skate park to boost developer confidence, alongside long-term goals like making the Warehouse District an entertainment hub. Working as a public-private partnership with 150 members, the Coalition is also lobbying for tax credits and incentives to support building conversions. Read Article

Capella Tower, the second-tallest building in downtown Minneapolis, was surrendered by Shorenstein Properties to its lender, MetLife, after failing to find a buyer. The transfer likely involved a deed in lieu of foreclosure to avoid legal actions from mortgage default. The building’s market value has significantly dropped from the $255 million Shorenstein paid in 2018 to $196.5 million. Office vacancy rates in downtown Minneapolis remain near record highs, contributing to plummeting property values. Erin Fitzgerald of JLL described the market as the most challenging in history, making it difficult for investors to secure financing, despite Shorenstein’s successful renovation and leasing efforts. Read Article