Minnesota

JLL Arranges Sale of Two Seniors Housing Communities Totaling 216 Units in Metro Twin Cities

by Kristin Harlow August 12, 2026

LAKE ELMO AND ARDEN HILLS, MINN. — JLL Capital Markets has arranged the sale of Boulder Ponds Senior Living and Round Lake Senior Living, two Class A communities totaling 216 units in the Twin Cities market. JLL represented the seller and developer, Trident Development, and procured the buyer, LTC Properties Inc. Lifespark will remain the operator of both properties, which feature independent living, assisted living and memory care services. Boulder Ponds Senior Living, completed in 2020, is a 95-unit community in Lake Elmo. Round Lake Senior Living, which opened in 2023, is a 121-unit community in Arden Hills.

August 12, 2026

Development Healthcare Midwest Minnesota

HGA, Mortenson Complete 620,000 SF Surgical Center Addition for Allina Health in Minneapolis

by Kristin Harlow August 11, 2026

MINNEAPOLIS — Design firm HGA and general contractor Mortenson have completed the Richard M. Schulze Surgical and Critical Care Center, a 10-story, 620,000-square-foot addition to Abbott Northwestern Hospital in Minneapolis. The largest construction project in Allina Health’s history includes 190 private inpatient rooms. The project team worked with Allina Health to integrate new critical care spaces, including 30 advanced operating rooms purpose-built for complex procedures, into the campus’s existing facilities. HGA implemented several infrastructure and planning improvements, including a new consolidated front entrance; the renovation of 200,000 square feet within the existing hospital to integrate new and existing spaces while modernizing critical areas such as operating rooms; and new roadways to improve circulation for the hospital’s emergency department. The hospital remained fully operational throughout the construction project. The project team included multidisciplinary engineering and specialty consultants, including Jacobs. The Schulze Building will welcome its first patients on Saturday, Aug. 29.

August 11, 2026

Acquisitions Midwest Minnesota Multifamily

JLL Arranges Sale of 336-Unit Multifamily Community in Burnsville, Minnesota

by Kristin Harlow August 10, 2026

BURNSVILLE, MINN. — JLL Capital Markets has arranged the sale of Twelve 501 Apartments, a 336-unit multifamily community in the Twin Cities suburb of Burnsville. Built in 1986 and extensively renovated beginning in 2017, the property features large layouts and a variety of amenities. The four-story asset is situated on 14.6 acres overlooking Birnamwood Golf Course. Josh Talberg, Joseph Peris and Eli Smith of JLL represented the seller, FPA Multifamily, and procured the buyer, Osso Capital. The deal marks Osso’s first investment in Minnesota.

August 10, 2026

Acquisitions Industrial Loans Midwest Minnesota

MMCC Secures $4.8M Acquisition Loan for Minnesota Industrial Property

by Kristin Harlow August 5, 2026

ALBERT LEA, MINN. — Marcus & Millichap Capital Corp. (MMCC) has secured a $4.8 million loan for the acquisition of a 127,869-square-foot industrial property located at 1851 Margaretha Ave. in southern Minnesota’s Albert Lea. Michael Hughes of MMCC arranged the five-year loan with a national bank on behalf of the buyer. The nonrecourse loan features a 5.3 percent interest rate and 25-year amortization period. The property is currently leased to Green Bay Packaging, a sustainable packaging manufacturer with over 40 locations throughout the United States. Don Schmidt and Paul Rider of Marcus & Millichap, in association with Jon Ruzicka, Marcus & Millichap’s Minnesota broker of record, represented the seller, a Minnesota-based partnership. The team also procured the buyer, St. Paul Properties. The asset sold for $7.1 million.

August 5, 2026

Acquisitions Illinois Industrial Midwest Minnesota

Cabot Properties Sells 2.5 MSF Industrial Portfolio in Chicago, Minneapolis Markets

by Kristin Harlow July 31, 2026

CHICAGO AND MINNEAPOLIS — Cabot Properties has sold the North Central Portfolio, a collection of 11 industrial buildings totaling roughly 2.5 million square feet across the greater Chicago and Minneapolis markets. A global asset manager purchased the portfolio, which includes assets both developed and acquired by Cabot. Six of the properties are located in the North/Central Kane County and West Suburbs submarkets of Chicago and include four cross-dock facilities and two rear-load properties totaling approximately 1.6 million square feet. The assets have an average vintage of 2019 and feature 32-foot clear heights, ESFR sprinkler systems, 130-to-185-foot truck court depths and efficient loading configurations. The buildings are 97 percent occupied by various logistics and distribution users. The additional five buildings comprise roughly 1 million square feet across the Northwest and Southwest submarkets of Minneapolis. The rear-load facilities have an average vintage of 2014 and feature 32-foot clear heights, ESFR sprinkler systems and 130-to-155-foot truck court depths. The fully leased properties are home to distribution and light manufacturing users.

July 31, 2026

Acquisitions Midwest Minnesota Multifamily

JLL Brokers Sale of 81-Unit Apartment Community in Plymouth, Minnesota

by Kristin Harlow July 30, 2026

PLYMOUTH, MINN. — JLL Capital Markets has brokered the sale of Medicine Lake Apartments, an 81-unit community situated along Medicine Lake in Plymouth. Built in 1977, the four-story property features 12 private boat slips and floor plans averaging 948 square feet. Amenities include a fitness center, sauna, outdoor pool, multi-sport court, resident clubroom and direct access to the Luce Line Regional Trail. Josh Talberg, Joseph Peris and Jack Graveline of JLL represented the seller, Bigos Management. The buyer was Weber Organization.

July 30, 2026

Leasing Activity Midwest Minnesota Office

UBS, CBRE Sign Leases at Arcadia Office Building Under Development in Metro Minneapolis

by Kristin Harlow July 28, 2026

EDINA, MINN. — Arcadia, a 118,000-square-foot office building currently under construction in Edina, is now 71 percent preleased. Opus broke ground on the six-story, multi-tenant property in September. Completion is slated for December of this year. UBS Financial Services Inc. leased the entire fifth floor, totaling 29,126 rentable square feet. CBRE signed a lease for 15,746 square feet on the third floor. Opus and Opus-affiliated companies will occupy 38,386 square feet, with Opus taking the entire top floor and the affiliated companies occupying a portion of the fourth floor. Arcadia will feature gathering spaces, conference rooms, a large employee training room, private tenant clubroom, fitness center and landscaped outdoor terrace. Opus is serving as both developer and design-builder for the project. ESG Architecture & Design is the architect. Joe Conzemius, Larissa Bodine, Ann Rinde and Elle Westphal of CBRE are leading leasing efforts. Tom Tracy and John McKenna of Cushman & Wakefield represented UBS, while John Ferlita and John Lorence represented CBRE on an internal basis.

July 28, 2026

Civic Development Midwest Minnesota

Kraus-Anderson Completes $68.9M School Building in Gibbon, Minnesota

by Kristin Harlow July 21, 2026

GIBBON, MINN. — Kraus-Anderson has completed a new $68.9 million PK-12 school building for Gibbon-Fairfax-Winthrop Schools in southern Minnesota’s Gibbon. Designed by Wold Architects and Engineers, the project encompasses a two-story, 158,000-square-foot school and surrounding athletic field development. The new campus consolidates all grade levels into a single environment. The building’s design incorporates multiple flexible learning spaces, specialized Career and Technical Education and science classrooms and modern amenities. A secure entry and separate bus drop-offs provide distinct separation of age groups. Construction began in January 2024.

July 21, 2026

Acquisitions Hospitality Midwest Minnesota

Marcus & Millichap Brokers Sale of 45-Room Country Inn & Suites Hotel in Detroit Lakes

by Kristin Harlow July 20, 2026

DETROIT LAKES, MINN. — Marcus & Millichap has brokered the sale of a 45-room Country Inn & Suites hotel in Detroit Lakes, a city in northwest Minnesota. Joseph Ferguson, Jon Ruzicka, Reed Gizinski and Brock Banken of Marcus & Millichap represented the seller, DL Hotel Group LLC, and procured the South Dakota-based buyer. Built in 1996, the recently renovated property is located just off Highway 10 and within walking distance of Detroit Lake. According to Ferguson, Detroit Lakes remains one of Minnesota’s strongest regional lodging destinations.

July 20, 2026

Development Midwest Minnesota Multifamily

Inland, Reuter Walton to Develop 342-Unit Citywalk Apartments in Rochester, Minnesota

by Kristin Harlow July 16, 2026

ROCHESTER, MINN. — Inland National Development Co. LLC, a member company of The Inland Real Estate Group of Cos. Inc., and Reuter Walton Development LLC will co-develop Citywalk Apartments, a 342-unit multifamily community in downtown Rochester directly across from Mayo Clinic’s campus. Construction is expected to begin this month, with completion anticipated in 2028. The project will include a mix of apartments and 90 short-term, fully furnished units designed to support the evolving needs of Rochester’s healthcare and business community. Plans call for more than 250 climate-controlled underground parking spaces complete with electric vehicle charging stations. Residents will have access to a clubroom, fitness center, indoor-outdoor rooftop sky terrace, pool, coworking and conference room, golf simulator and game lounge.

July 16, 2026

Newer Posts

Older Posts