REBusinessOnline

KW Commercial Brokers Sale of 104,080 SF Shopping Center in Robbinsdale, Minnesota

ROBBINSDALE, MINN. — KW Commercial | AMK Properties has brokered the sale of Robin Center in Robbinsdale, a northwest suburb of Minneapolis. The 104,080-square-foot shopping center sold for an undisclosed price. Located on Lakeland Avenue, the property is home to Dollar Tree, CVS Pharmacy, Car-X and other local, regional and national tenants. Matthew Klein of KW Commercial represented the buyer, Robin Center Partners LLC. Steven Nelson and Kyle Thompson of Hoyt Properties, along with Chet …

Ryan Cos. Sells 11-Building Medical Office Portfolio Across Six States

MINNEAPOLIS — Minneapolis-based Ryan Cos. US Inc. has sold a portfolio of 11 medical office buildings to Harrison Street for an undisclosed price. The fully leased buildings total 500,778 square feet and are located in Florida, Illinois, Minnesota, North Carolina, North Dakota and Wisconsin. Ryan developed all of the facilities. Ryan’s healthcare real estate management team will continue managing the properties under the new ownership. John Nero, Ben Appel, Jay Miele, Michael Greeley, Ron …

Colliers Arranges $53M HUD-Insured Loan for Refinancing of Mixed-Income Community in Minnesota

RICHFIELD, MINN. — Colliers Mortgage has arranged a $53 million HUD 223(f) loan for the refinancing of Chamberlain Apartments in Richfield, a southern suburb of Minneapolis. Of the apartment community’s 316 units, 20 percent are designated as affordable and are rented to residents who earn up to 50 percent of the area median income. The remaining units are rented at market rates. Amenities include a clubhouse, game room, fitness center, outdoor pool, playground and dog run. The 35-year loan …

JLL Arranges Sale of Two-Building Industrial Portfolio in Bloomington, Minnesota

BLOOMINGTON, MINN. — JLL Capital Markets has arranged the sale of a two-building light industrial portfolio totaling 121,572 square feet in the Minneapolis-area community of Bloomington. The portfolio comprises the 58,976-square-foot Victoria Pond Center and the 62,596-square-foot Cedar Business Center, both of which were developed in the mid-1980s. Victoria Pond Center is fully leased to 11 tenants. Cedar Business Center is 91 percent leased to four tenants. David Berglund and Colin Ryan of …

Colliers Brokers Sale of 83,000 SF Warehouse in Newport, Minnesota

NEWPORT, MINN. — Colliers Minneapolis-St. Paul has brokered the sale of Raceway Business Center I in Newport, just southeast of St. Paul. The sales price was undisclosed. The 83,000-square-foot warehouse is located at 710 Hastings Ave. Developed by Scannell Properties in 2018, the property features a clear height of 28 feet, 10 dock-high doors, three drive-in doors, 122 parking stalls and a 120-foot truck court. Mark Kolsrud, John McCarthy, Pete Carbonneau, Kyle Delarosby, Tom Sullivan, Peter …

MDH Partners Acquires 81,000 SF Cold Storage Facility in Minneapolis

MINNEAPOLIS — MDH Partners has acquired an 81,000-square-foot cold storage facility located at 740 Kasota Circle in Minneapolis. The purchase price was undisclosed. Constructed in 1977, the property features a clear height of 24 feet. Approximately 80 percent of the building is temperature-controlled. Wholesale Produce Supply, a distributor of produce in the upper Midwest and Canada, fully leases the facility. Houston Hawley served as the acquisition lead for MDH. Judd Welliver and Bentley …

Noteworthy Purchase: Schmitt Music Acquires 92,000 SF Office Building in Bloomington, Minnesota

BLOOMINGTON, MINN. — Schmitt Music has acquired a 92,000-square-foot office building in Bloomington for its new headquarters. The purchase price was undisclosed. Located at 7800 Picture Drive, about 12 miles south of Minneapolis, the property offers office, showroom and training space as well as an area for a repair center. Schmitt Music was formerly headquartered in Brooklyn Center. Dan Larew and Chris Hickok of JLL represented the seller,

Davis Opens 78,000 SF Medical Office Building in St. Louis Park, Minnesota

ST. LOUIS PARK, MINN. — Minneapolis-based developer Davis has opened Xchange, a 78,000-square-foot medical office building located at 6099 Wayzata Blvd. in St. Louis Park, just west of Minneapolis. Davis acquired the site in 2015. Ear Nose & Throat Specialty Care and Surgical Specialty Center of Minnesota anchor the three-story property, leasing 60 percent of the space. OVO Lasik + Lens ophthalmology clinic and surgery center occupies a portion of the first floor, while Retina Consultants …

Ackerberg, Northland Real Estate Complete 193-Unit Apartment Complex in St. Paul

ST. PAUL, MINN. — Ackerberg and Northland Real Estate have completed development of Alvera, a 193-unit apartment complex in St. Paul. Residential brand Common will manage the property, which is located at 337 W. 7th St. Amenities include a clubroom, outdoor deck, fitness center and resident lounge. Artist Aaron de la Cruz painted a mural along the property’s exterior. Monthly rents start at $1,077 for

PCCP, Watermark to Develop 89-Unit Build-for-Rent Community in Woodbury, Minnesota

WOODBURY, MINN. — A joint venture between PCCP and Watermark Cos. has unveiled plans to develop Canvas at Woodbury North, an 89-unit build-for-rent (BFR) community in Woodbury near St. Paul. The development team plans to deliver the first homes in fall 2022, with final completion slated for fall 2023. The project marks the joint venture’s second BFR community on the east side of the Twin Cities. The unit mix will consist of two-, three-, four and five-bedroom floorplans ranging from 1,200 …

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