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Minnesota

CBRE Brokers $53.2M Sale of Apartment Property in Minneapolis

MINNEAPOLIS — CBRE has brokered the sale of Track 29 in Minneapolis for $53.2 million. The 198-unit apartment property is located at 2841 Bryant Avenue South along the north side of the Midtown Greenway. The 148,082-square-foot building offers a mix of studio, one- and two-bedroom units. Amenities include an art gallery/exhibition space, rooftop terrace, Zen garden, saltwater pool and dog run. Abe Appert, Keith Collins, Ted Abramson and Laura Hanneman of CBRE represented the seller, Bryant..

July 21, 2017

CBRE Arranges $26.9M Construction Loan for 168-Room Hotel in Minneapolis

MINNEAPOLIS — CBRE has arranged a $26.9 million loan for the construction of The Elliot Park Hotel in downtown Minneapolis. The 168-room Autograph Collection hotel by Marriott will be located on the northeast corner of 5th Avenue South and South 9th Street. The boutique hotel, slated to open in summer 2018, is part of a block redevelopment by Kraus-Anderson. The redevelopment will include a new corporate office for Kraus-Anderson, a 17-story apartment tower and a microbrewery. Jason Brown,..

July 19, 2017

Marcus & Millichap Brokers $2.5M Sale of Retail Property in Champlin, Minnesota

CHAMPLIN, MINN. — Marcus & Millichap has brokered the sale of South Pond Center in Champlin, a northern suburb of Minneapolis, for $2.5 million. The 26,020-square-foot retail property is located at 11350 Aquila Drive North. Tenants include Hudy’s Café, Totally Tan, Trailhead Cycling and Champlin Nails. Sean Doyle, Matthew Hazelton, Adam “AJ” Prins and Cory Villaume of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. Claire J...

July 17, 2017

Doran Sells Two Student Housing Properties at University of Minnesota for $93M

MINNEAPOLIS — Doran Cos. has sold The Bridges and The Knoll, two student housing properties at the University of Minnesota in Minneapolis, for $93 million. Opened in 2013, The Knoll consists of 101 units and is located at 1101 University Ave. Southeast. The Bridges, opened in 2014, consists of 210 units and is located at 930 University Ave. Southeast. TH Real Estate was the buyer. Doran, which built a total of six student housing properties at the university, has now completed the sale of..

July 14, 2017

CBRE Negotiates $10M Sale of Industrial Building in Maple Grove, Minnesota

MAPLE GROVE, MINN. — CBRE Capital Markets has negotiated the sale of the Bass Creek Technology Plaza in Maple Grove, about 17 miles northwest of Minneapolis, for $10 million. The 108,628-square-foot industrial building is located at 6250 Sycamore Lane North. The property is fully leased to ZEISS, a technology firm specializing in optics and optoelectronics. Constructed as a build-to-suit for ZEISS in 2001, the building features office space, manufacturing space and a warehouse. Judd Welliver,..

July 7, 2017

Cushman & Wakefield NorthMarq Negotiates Two Leases at 550,000 SF Office Property in Oakdale, Minnesota

OAKDALE, MINN. — Cushman & Wakefield NorthMarq has negotiated two leases at 4Front, a 550,000-square-foot office property in Oakdale, a suburb of St. Paul. Gemalto, a security software developer, has signed a 15,000-square-foot lease. Impact Group, an employee coaching and career transition consulting firm, has signed an 8,100-square-foot lease. The space will serve as a consolidation of two previous locations in the Twin Cities for Impact Group. The four-building 4Front is also home to..

July 6, 2017

CBRE Brokers $4.2M Sale of Multifamily Property in St. Paul, Minnesota

ST. PAUL, MINN. — CBRE Multifamily has brokered the sale of Community Plaza in St. Paul for $4.2 million. The 30-unit rental townhome property is located at 709 Central Ave. near the Green Line light rail. The property features two- and three-bedroom townhome units with complete basements. Robert Lockman, Ted Abramson and Laura Hanneman of CBRE represented the seller, Community Plaza LP, an entity related to Sherman Associates. St. Paul-based CommonBond Communities was the buyer.

June 30, 2017

Launch Properties Breaks Ground on 286,000 SF Warehouse in Lakeville, Minnesota

LAKEVILLE, MINN. — Launch Properties has broken ground on Launch Park Lakeville I, a 286,000-square-foot warehouse in Lakeville, a suburb of Minneapolis. The building is 53 percent pre-leased to an undisclosed tenant, while 136,000 square feet remains available for lease. Construction is slated for completion in November. Launch Park Lakeville I will feature 32-foot clear heights, 50-foot interior bays, 60-foot dock bays, 23 dock doors and two drive-in doors. This is the first building in the..

June 28, 2017

Cushman & Wakefield NorthMarq Arranges Sale of Two Shopping Centers in Suburban Minneapolis

BROOKLYN PARK, MINN. — Cushman & Wakefield NorthMarq has arranged the sale of two shopping centers in suburban Minneapolis for undisclosed prices. Edinburgh Festival Centre, located at the corner of Highway 252 and 85th Avenue North in Brooklyn Park, consists of 91,563 square feet. Festival Foods anchors the center, which is 95 percent leased. Other tenants include Caribou Coffee, Broadway Pizza and Dollar Tree. Shingle Creek Shopping Center consists of 39,456 square feet and is located..

June 14, 2017

Meridian Capital Arranges $57.5M Refinancing for 15-Property Multifamily Portfolio Across Five States

INDIANA, MINNESOTA AND OHIO — Meridian Capital Group has arranged the $57.5 million refinancing for a 15-property multifamily portfolio located across five states. The 1,192-unit portfolio includes Ridgewood and Meadowood in Indiana; Laurel Bay and Carleton Court in Minnesota; and Camellia Court, Beckford Place, Forsythia Court, Slate Run, Tabor Ridge, Foxhaven and River Glen in Ohio. Four other properties within the portfolio are located in Georgia and Kentucky. Cary Pollack, Judah Neuman..

June 9, 2017