Minnesota Archives - REBusinessOnline

The Coven Opens New Coworking Space in Richfield, Minnesota

Kristin Harlow — Thu, 05 Feb 2026 13:47:27 +0000

RICHFIELD, MINN. — The Coven, a network of coworking spaces, has opened its ninth location. The Coven Richfield marks the company’s sixth location in Minnesota and its seventh franchise-owned space. Located at 6440 Nicollet Ave., The Coven Richfield offers a membership-based workspace for entrepreneurs and professionals. The space is designed to support remote and hybrid workers while strengthening local business communities through connection and shared resources. The locally owned location includes community workspace, conference rooms for up to 14 people, private offices for teams of up to six, private phone rooms, bike storage, gender-neutral restrooms, a parent and prayer room, kitchen space, printing and office supplies, coffee and snacks, and a dedicated parking lot with additional free street parking. Members will also have access to The Coven’s digital community and Nice Healthcare telehealth services. Unique to this location are local art installations, event space and onsite storage. The Coven Richfield is owned by Lori Godding, a wealth management expert; Breanne Kennedy, founder and president of Thrive; and Nadia Siddiqui, vice president of advancement at Women’s Foundation of Minnesota.

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Marcus & Millichap Negotiates $2.6M Sale of Multifamily Property in Minneapolis

Kristin Harlow — Wed, 04 Feb 2026 14:38:45 +0000

MINNEAPOLIS — Marcus & Millichap has negotiated the $2.6 million sale of Santiago Apartments, a 23-unit multifamily property in Minneapolis. The asset is located at 516 University Ave. SE in the St. Anthony Main/Marcy-Holmes neighborhood near the Minneapolis riverfront and the University of Minnesota. Built in 1923, the property includes a mix of studio, one- and two-bedroom floor plans across 11,394 rentable square feet. Abe Roberts and Michael Jacobs of Marcus & Millichap represented the seller, MBR Investments, and procured the buyer, an entity related to Irving Properties.

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Kraus-Anderson, Zuri 3 to Build 8,000-Seat Amphitheater in Minneapolis

Kristin Harlow — Tue, 03 Feb 2026 14:27:53 +0000

MINNEAPOLIS — Kraus-Anderson and Zuri 3 have formed a joint venture to serve as the construction manager of the new Community Performing Arts Center (CPAC), an 8,000-seat amphitheater operated by the Port of Minneapolis LLC. CPAC is an initial phase of a plan to redevelop The Upper Harbor Terminal, a 48-acre site along the Mississippi River off I-94. Port of Minneapolis, a joint venture between First Avenue and the Minnesota Orchestra, expects to host approximately 50 ticketed events annually. A portion of the ticket proceeds will be reinvested directly into the local community through a partnership with the African American Community Development Corp., which will serve as the fund manager for CPAC. A community entity will manage the fund to explore and develop community programming, local vendor and entrepreneur opportunities and youth jobs and career programs. In addition to musical events, CPAC will also host year-round community programming in public spaces, with a strong focus on including Northside residents, businesses and organizations. CPAC will create more than 500 construction jobs, and once completed, amphitheater operations will employ more than 250 people. Additional Twin Cities companies involved in the project include NTH, the owner’s representative, and LSE Architects. Construction is scheduled…

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Marcus & Millichap Brokers $41.6M Sale of Daycare Center Portfolio in Midwest

Kristin Harlow — Mon, 02 Feb 2026 14:56:04 +0000

IOWA, MINNESOTA AND NEBRASKA — Marcus & Millichap has brokered the $41.6 million sale of the Yellow Brick Road Portfolio, a collection of 18 triple-net-leased early childhood development centers in Iowa, Minnesota and Nebraska. Spencer Berkley, Mark Ruble, Chris Lind, Zack House, Jon Ruzicka and Adam Lewis of Marcus & Millichap represented the sellers, Ben Ditzer and Bob Carlson of Triple Net Capital, and procured the buyer, a Florida-based real estate investment trust. The portfolio included a range of lease structures and ownership entities. Two additional assets were sold separately to private buyers prior to the sale of the remaining 18 properties.

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Kraus-Anderson Completes $29.8M Public Works Facility in Mankato, Minnesota

Kristin Harlow — Wed, 28 Jan 2026 14:33:44 +0000

MANKATO, MINN. — Kraus-Anderson has completed a new public works facility for Blue Earth County on a 40-acre greenfield site in Mankato, a city in southern Minnesota. Designed by ISG Architects, the $29.8 million facility features an 89,363-square-foot main building with office space, an exercise room, shop areas, locker rooms, garage parking, three overhead cranes and a multipurpose room for county and public use. The project also includes a 30,000-square-foot vehicle storage building, an 1,100-square-foot fuel island and a 14,000-square-foot salt and sand storage building with a 90,000-gallon water tank to supplement the fire suppression system for the campus. Construction began in October 2024.

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PCCP, RPM Living Acquire 204-Unit Multifamily Property in Lakeville, Minnesota

Kristin Harlow — Tue, 20 Jan 2026 13:46:16 +0000

LAKEVILLE, MINN. — A joint venture between PCCP and RPM Living has acquired Livery Modern Apartments, a 204-unit community in Lakeville, about 22 miles south of the Minneapolis central business district. Built in 2023, the property features 22 two-story buildings with a mix of floor plans that range from 868 to 1,505 square feet. Amenities include a pool, fitness center, pet park and bike repair station. The seller and sales price were undisclosed.

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CBRE Arranges Sale, Financing for Two-Property Industrial Portfolio in Metro Minneapolis

Kristin Harlow — Thu, 15 Jan 2026 14:57:35 +0000

MAPLE GROVE, MINN. — CBRE has arranged the sale and acquisition financing for a 255,501-square-foot, two-property industrial portfolio in Maple Grove. Enclave purchased the portfolio from Artis REIT for $25.5 million. CBRE’s Judd Welliver, Bentley Smith, Zach Graham, Ryan Bain, Michael Caprile and Joe Horrigan represented the seller. CBRE’s Joel Torborg, Mike Vannelli and Billy Mork arranged a $15 million loan with a fixed interest rate and interest-only payments through a life insurance company. Located at 9200 Forestview Lane North and 9155 Cottonwood Lane, the properties are currently fully leased to two tenants.

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JLL Negotiates Sale of 202-Unit Luxury Apartment Community in Edina, Minnesota

Kristin Harlow — Mon, 12 Jan 2026 14:46:06 +0000

EDINA, MINN. — JLL Capital Markets has negotiated the sale of The Eddi at Pentagon Village, a luxury apartment community with 202 units in Edina. Completed in 2023, the property is positioned within the Pentagon Village development. Units average 753 square feet. According to JLL, The Eddi is the largest wood-frame modular apartment building in Minnesota, with 205 modules manufactured off site by Rise Modular and stacked atop a site-built concrete parking and amenity podium. Amenities include a fitness center, pool, clubroom, coworking spaces, dog spa and outdoor fire pits. Josh Talberg, Joseph Peris and Jack Graveline of JLL represented the sellers, Rise Modular and Soloman Real Estate Group. Oaks Properties was the buyer.

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JLL Arranges Sale of 288-Unit Multifamily Community in Rochester, Minnesota

Kristin Harlow — Thu, 08 Jan 2026 13:43:18 +0000

ROCHESTER, MINN. — JLL Capital Markets has arranged the sale of The Villages at Essex Park, a 288-unit multifamily community in Rochester. Situated near the Mayo Clinic and the city’s medical district, the property comprises two phases. Essex Park was built in 1999 and includes 144 units. Essex Place, constructed in 1991 and renovated in 2013, features 144 Section 42 income-restricted units at 60 percent of the area median income. Units average 1,005 square feet. Amenities include a clubhouse, fitness center, pool, playground and picnic areas. Josh Talberg, Joseph Peris, Doug Childers and Jack Graveline of JLL represented the seller, Dominium, and procured the buyer, Black Swan Real Estate.

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JLL Arranges Sale of 50-Unit Affordable Townhome Community in Northfield, Minnesota

Kristin Harlow — Tue, 23 Dec 2025 14:42:27 +0000

NORTHFIELD, MINN. — JLL Capital Markets has arranged the sale and financing for Jefferson Square, a 50-unit HAP townhome community in Northfield, about 45 miles south of Minneapolis. The property sits on 5.2 acres and includes nine residential buildings, three parking structures and one administrative building. Amenities include private garages, a community lounge, picnic space, tot lot and media space. Josh Talberg and Joseph Peris of JLL represented the seller, Dominium Management, and procured the buyer, an investment firm specializing in affordable and workforce housing. The buyer plans to invest capital to refresh the units and common areas in addition to extending the existing affordability restrictions. C.W. Early of JLL led the debt advisory team.

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JLL Arranges Sale of 167-Unit Helix Apartments in St. Louis Park, Minnesota

Kristin Harlow — Mon, 22 Dec 2025 14:52:34 +0000

ST. LOUIS PARK, MINN. — JLL Capital Markets has arranged the sale of Helix Apartments, a 167-unit property in the Minneapolis suburb of St. Louis Park. Built in 1985 and extensively renovated between 2020 and 2022, Helix Apartments features units averaging 990 square feet. Amenities include a pool, fitness center, community lounge with coffee bar, rooftop terrace, dog park and walking paths. Josh Talberg, Joseph Peris and Jack Graveline of JLL represented the seller and procured the buyer, Jason Quilling of QT Holdings.

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CBRE Brokers Sale of 158-Unit Apartment Complex in Minneapolis

Kristin Harlow — Mon, 22 Dec 2025 14:51:44 +0000

MINNEAPOLIS — CBRE has brokered the sale of Second + Second, a 158-unit apartment complex in the North Loop of Minneapolis. The property is located at 120 N. Second St., just west of the Mississippi River. Built in 2020, the asset features a range of studio, one- and two-bedroom floor plans averaging 863 square feet. Amenities include underground parking, a sky lounge, fitness center and pet wash station. CBRE’s Ted Abramson, Abe Appert and Keith Collins represented the seller, Solaris Group. Roundhouse was the buyer.

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Davis Buys Two Minneapolis-Area Outpatient Medical Properties for $21.9M

Kristin Harlow — Thu, 18 Dec 2025 13:48:23 +0000

PLYMOUTH AND BURNSVILLE, MINN. — Davis Medical Investment Fund (DMI Fund) has acquired two Minneapolis-area outpatient medical properties for $21.9 million. The properties include a 30,250-square-foot, single-story outpatient building in Plymouth that was purchased for $12 million. The property was fully renovated and expanded in 2019, adding 15,000 square feet. At the time of sale, the building was fully occupied. Fresenius anchors the property and occupies roughly one-third of the space, offering nephrology specialty services. Fresenius renewed its lease earlier this year. In Burnsville, Davis acquired the Pondview Medical Building, a two-story, 34,224-square-foot property, for $9.9 million. At the time of sale, the building was fully leased to four tenants, including anchor tenant Southdale Pediatrics. Pondview was developed in 2005 and received significant updates in 2024. The acquisitions follow Davis’ recently announced refinancing of 19 properties totaling $171 million with Capital One Healthcare Finance. Leveraging its new $250 million line of credit, Davis continues to expand the DMI Fund’s investment portfolio, which now includes more than 20 properties totaling nearly 885,000 square feet across eight states.

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Marcus & Millichap Negotiates $6.5M Sale of Seniors Housing Community in Faribault, Minnesota

Kristin Harlow — Wed, 17 Dec 2025 14:12:08 +0000

FARIBAULT, MINN. — Marcus & Millichap has negotiated the $6.5 million sale of Pleasant View Estates, a 36-unit assisted living and memory care facility in Faribault, about 50 miles south of Minneapolis. Built in 1998, the property sits on 4.8 acres at 41 Brand Ave. The 44,300-square-foot facility includes 24 one-bedroom units and 12 two-bedroom units. Approximately 75 percent of the residents are Medicaid assisted living facility occupants. The building is connected to a vacant skilled nursing home formerly known as Pleasant Manor. Ray Giannini of Marcus & Millichap represented the seller, Monarch Healthcare Management, and procured the buyer, a regional private investor.

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Kraus-Anderson Completes Trails, Landscape Rehab at Split Rock Lighthouse in Minnesota

Kristin Harlow — Wed, 17 Dec 2025 14:10:33 +0000

TWO HARBORS, MINN. — Kraus-Anderson has completed a trails and landscape renovation at Split Rock Lighthouse in Two Harbors along Lake Superior. Designed by Quinn Evans, the project returns circulation patterns to their historic locations with modifications for accessibility needs of the site, including a new ADA ramp, a precast boardwalk that follows the path of the original tramway, structural components and new fencing. The site was designated as a National Historic Landmark in 2011. The Minnesota Historical Society directed archeological efforts. The lighthouse remained open to the public during the majority of construction, which began in May. Split Rock Light Station was completed in 1910, and for half a century it helped freighters carry freshly mined ore from Minnesota’s Iron Range. The State of Minnesota obtained the historic and scenic landmark in 1971 and transferred administrative responsibility for the 25-acre Split Rock Lighthouse historic site to the Minnesota Historical Society in 1976. The historic core has been restored to its early 1920s appearance. The project was made possible by the people of Minnesota through an appropriation made by the Minnesota Legislature and approved by the governor.

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Colliers Arranges Sale of 134-Unit Venue Apartments in Chanhassen, Minnesota

Kristin Harlow — Tue, 16 Dec 2025 14:26:41 +0000

CHANHASSEN, MINN. — Colliers has arranged the sale of Venue Apartments, a 134-unit apartment complex in the Twin Cities suburb of Chanhassen. The property opened in 2019 and is anchored by an Aldi grocery store, which is separately owned and was not part of the transaction. Amenities include a rooftop deck, business center, fitness facility, clubroom, sports simulator, coffee bar, underground heated parking and automated package delivery. Mox Gunderson, Dan Linnell, Adam Haydon and Devon Dvorak of Colliers represented the seller, Minnesota-based Roers Cos. Edina, Minn.-based Highland Management purchased the property through a 1031 exchange. The community was 95.5 percent leased at the time of sale.

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JLL Arranges Sale of 192-Unit Aster Apartments in Metro Twin Cities

Kristin Harlow — Thu, 11 Dec 2025 14:10:58 +0000

COON RAPIDS, MINN. — JLL Capital Markets has arranged the sale and financing for Aster Apartments, a 192-unit luxury apartment community in the Twin Cities suburb of Coon Rapids. The property is located at 3130 Northdale Blvd. NW near Highway 10 and Highway 169. Josh Talberg and Joseph Peris of JLL represented the undisclosed seller. Matthew Schoenfeldt, Patricia Heminger, Rebecca Mitchell and Ryan Planek of JLL arranged acquisition financing on behalf of the buyer, MLG Capital.

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CBRE Arranges Sale of 204-Unit Multifamily Property in Lakeville, Minnesota

Kristin Harlow — Wed, 10 Dec 2025 14:41:01 +0000

LAKEVILLE, MINN. — CBRE has arranged the sale of Livery, a 204-unit multifamily property in the Minneapolis suburb of Lakeville. Texas-based RPM Living Investments purchased the asset from Indiana-based Garrett Cos. for an undisclosed price. CBRE’s Ted Abramson, Keith Collins and Abe Appert represented the seller. Built in 2023, the townhome-style property features a range of one-, two- and three-bedroom floor plans averaging 1,117 square feet. Amenities include a yoga room, outdoor fire pit, pool, fitness center and indoor dog spa.

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Kraus-Anderson Begins Construction of $24M Affordable Housing Project in Downtown Minneapolis

Kristin Harlow — Wed, 10 Dec 2025 14:38:46 +0000

MINNEAPOLIS — Kraus-Anderson has broken ground on Exodus, a $24 million affordable housing project in downtown Minneapolis. The developer, Aeon, is partnering with St. Olaf Catholic Church on the project, which involves the rehabilitation and addition to an existing eight-story building adjacent to the church. Once complete, the development will provide 72 studio units of deeply affordable housing, designed to support individuals experiencing homelessness and housing instability. Residents will be referred through Hennepin County’s Coordinated Entry and Behavioral Health Systems. Touchstone Mental Health will provide comprehensive supportive services. Through a long-term ground lease, Aeon will be the new owner and operator of the building. Constructed in the 1950s, the building was originally designed to provide dorm-style housing for young professional women working downtown. Over time, the property transitioned to providing temporary shelter for unhoused individuals downtown through Catholic Charities and Hennepin County, before becoming completely vacant. Urbanworks Architecture and Kraus-Anderson will serve as the architect and general contractor. Plans call for the substantial rehabilitation of the building’s interior and connecting a newly built eight-story addition adjacent to the original. There will be community spaces, outdoor green space and a fitness center as well as new mechanical systems. The project is…

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Pioneer Acquisitions Buys 913,501 SF Office Portfolio in Downtown Minneapolis

Kristin Harlow — Tue, 09 Dec 2025 13:53:28 +0000

MINNEAPOLIS — Pioneer Acquisitions, a Rye, N.Y.-based real estate investment firm, has purchased two office towers in downtown Minneapolis along with an 870-stall parking ramp. The buildings, 100 Washington and 111 Washington, total 913,501 square feet and are situated in the city’s Gateway District, bridging the central business district and the North Loop. The transaction marks Pioneer’s first investment in the Twin Cities market. Pioneer plans to refresh and modernize existing amenity areas, including the tenant lounge and ground-level terrace at 100 Washington. The firm has engaged Cushman & Wakefield to handle leasing and property management services. The buildings were 80 percent occupied at the time of sale. Ryan Watts of CBRE represented the undisclosed seller.

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