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Minnesota

CivicDevelopmentMidwestMinnesota

Kraus-Anderson Completes $58M Police, Public Works Facility in Rosemount, Minnesota

by Kristin Harlow

ROSEMOUNT, MINN. — Kraus-Anderson has completed construction of a $58 million police and public works facility for the City of Rosemount in Minnesota. The 20-acre project is located at 14041 Biscayne Ave. Designed by BKV Group and Oertel Architects, the 172,200-square-foot development features three buildings, including a 160,101-square-foot police department and public works facility, a 7,400-square-foot cold storage building and a 4,800-square-foot salt storage building. The 48,718-square-foot police department features a squad garage for 35 vehicles, an office with a storm shelter, holding rooms and a six-lane gun range. The 111,383-square-foot public works facility includes a vehicle storage bay for 17 plow trucks and 57 vehicles, an office, wash bay and maintenance areas. Construction began in June 2023.

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AcquisitionsMidwestMinnesotaMultifamily

Colliers Brokers Sale of 116-Unit Historic Apartment Building in Minneapolis

by Kristin Harlow

MINNEAPOLIS — Colliers has brokered the sale of ElseWarehouse, a 116-unit apartment building in the North Loop of Minneapolis. The sales price was undisclosed. The transaction marks the first time the historic warehouse apartments have hit the market. Mox Gunderson, Dan Linnell, Devon Dvorak and Adam Haydon of Colliers represented the seller, Greco. North Dakota-based Great States Development was the buyer. Greco converted the 1920s warehouse into apartments in 2012. Located at 730 N. Washington Ave., the property features a variety of one-, two- and three-bedroom units averaging 907 square feet. Amenities include a fitness center, rooftop clubrooms and retail space on the ground floor.

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DevelopmentIndustrialMidwestMinnesota

Opus Completes 90,000 SF Recycling Facility Expansion for Spectro Alloys Near St. Paul

by Kristin Harlow

ROSEMOUNT, MINN. — Opus has completed a 90,000-square-foot recycling facility expansion for Spectro Alloys in Rosemount, a southern suburb of St. Paul. Spectro Alloys is a secondary foundry alloy producer in the Midwest. The addition enables the company to expand its product offering into billet from post-consumer scrap aluminum. Equipment will be assembled and calibrated in the facility over the next several months. With first production expected during the second half of 2025, the new facility creates an estimated 50 new jobs and adds nearly 120 million pounds per year of additional recycling capacity. Full production ramp-up is expected in the first quarter of 2026. Opus was the design-builder and architect.  

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MidwestMinnesotaMultifamily

Kiser Group Expands into Minneapolis-St. Paul Market with New Multifamily Brokerage Office

by Kristin Harlow

MINNEAPOLIS — Kiser Group has expanded into Minnesota by partnering with multifamily broker Robert Dulin to open a new multifamily brokerage office. The firm maintains brokers focused on Illinois, Indiana, Michigan, Ohio and Wisconsin, and this latest expansion broadens the company’s reach across the Midwest. Kiser Group’s transaction volume is in excess of $6 billion in multifamily investment sales since its inception in 2005. Dulin, formerly a director at Cushman & Wakefield, brings 15 years of multifamily brokerage experience to his role as executive director for Kiser’s Minneapolis-St. Paul operations.

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DevelopmentMidwestMinnesotaMultifamily

Kraus-Anderson Completes Phase II of Luxury Apartment Property in Hopkins, Minnesota

by Kristin Harlow

HOPKINS, MINN. — Kraus-Anderson has completed construction on Hallon II, a luxury apartment building in Hopkins, a southwest suburb of Minneapolis. Designed by ESG Architecture and Design, the seven-story, 398,822-square-foot community features 250 units and 10,000 square feet of retail space. Outdoor amenities include a third-floor courtyard with pool, hot tub, fitness area, game lawn, lounge and grill stations. Interior amenities include a sauna, fitness and yoga studio, speakeasy with connected sky deck, listening lounge and pet wash station. Construction began in September 2022.

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AcquisitionsMidwestMinnesotaMultifamily

CBRE Arranges $6.9M Sale of Apartment Building in Rochester, Minnesota

by Kristin Harlow

ROCHESTER, MINN. — CBRE has arranged the $6.9 million sale of Lofts at Mayo Park, a 29-unit apartment building in Rochester. Built in 2017, the property features one- and two-bedroom floor plans averaging 942 square feet. Amenities include a fitness center, bike storage, pet washing station, heated underground parking and rooftop terraces. CBRE’s Ted Abramson, Abe Appert and Keith Collins represented the seller, Eastbank Lofts LLC. The buyer was Eaststar Trust LLC.

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AcquisitionsMidwestMinnesotaMultifamily

JLL Arranges Sale of 480-Unit Apartment Complex in Brooklyn Park, Minnesota

by Kristin Harlow

BROOKLYN PARK, MINN. — JLL Capital Markets has arranged the sale of 610 West Apartments, a 480-unit apartment complex in the Twin Cities suburb of Brooklyn Park. Built between 2016 and 2018, the property features four buildings with units averaging 1,003 square feet. Amenities include three swimming pools, two courtyards, a 22,000-square-foot clubhouse, fitness center, sauna, golf simulator and heated underground parking. Josh Talberg and Joseph Peris of JLL represented the seller, The Doran Group. Scott Loving, Ken Dayton and Pat McMullen of JLL originated acquisition financing through Fannie Mae on behalf of the buyer, Spyglass Capital Partners.

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IndustrialLeasing ActivityMidwestMinnesota

States Manufacturing Corp. Signs 503,440 SF Industrial Lease in Suburban Minneapolis

by Kristin Harlow

DAYTON, MINN. — States Manufacturing Corp. has signed a 503,440-square-foot industrial lease to occupy half of The Cubes at French Lake in Dayton, a suburb of Minneapolis. CRG developed the 1 million-square-foot facility, which marks the largest speculative industrial project ever completed in the state. Built in 2024, the cross-dock warehouse features a clear height of 40 feet, 169 dock doors, four drive-in dock doors, 60-foot speed bays, a concrete truck court with 185-foot depth, 231 trailer parking spaces and 652 car parking spaces. Dan Swartz, James DePietro and Austin Lovin of CBRE represented CRG in the lease, while Brent Masica and Danny McNamara of Cushman & Wakefield represented the tenant. The lease marks the largest industrial lease signed in the Twin Cities market in the past two years, according to CBRE. States Manufacturing has started building out its space to support the fabrication and manufacturing of custom electronic and metal products. The company will maintain its current headquarters in Champlin, Minn. CRG integrated partner Lamar Johnson Collaborative designed The Cubes at French Lake, and parent company Clayco served as general contractor.

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AcquisitionsAffordable HousingMidwestMinnesotaMultifamily

JLL Brokers Sale of 84-Unit Affordable Housing Portfolio in Rural Minnesota

by Kristin Harlow

BRAHAM AND SANDSTONE, MINN. — JLL Capital Markets has brokered the sale of a two-property affordable housing portfolio totaling 84 units in rural Minnesota for an undisclosed price. Braham Meadows in Braham was built between 1978 and 1980. There are 42 units averaging 1,024 square feet each. Sandy Pines in Sandstone was built in 1979. There are 42 units across 47,400 square feet of rentable space. Both properties operate under project-based Housing Assistance Payments contracts and maintain 88 percent occupancy rates. JLL represented the seller, Gaughan Cos. The sales were part of a larger affordable housing portfolio consisting of five assets with 256 units. The locally based buyer specializes in acquisition rehabs to maintain long-term viability of apartment communities.

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AcquisitionsMidwestMinnesotaMultifamily

JLL Arranges $24.5M Sale of Apartment Community in Forest Lake, Minnesota

by Kristin Harlow

FOREST LAKE, MINN. — JLL Capital Markets has arranged the $24.5 million sale of Village Apartments in Forest Lake, about 27 miles northeast of St. Paul. The 252-unit apartment community was constructed in 1969 and consists of three buildings. Amenities include picnic areas, a playground, pool and bike racks. Josh Talberg of JLL represented the seller, Gaughan Cos. The buyer was undisclosed. Village Apartments marks the seventh property to trade in the larger 800-unit Minnesota Legacy Apartment Portfolio that JLL has been marketing for sale.

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