Minnesota

Herzing University Minneapolis Campus Relocates to St. Louis Park, Minnesota

by Kristin Harlow November 8, 2017

ST. LOUIS PARK, MINN. — Herzing University is relocating its Minneapolis campus from Crystal, Minn., to Metropoint Office Park in St. Louis Park. The 30,000-square-foot campus is slated to open in early 2018. Herzing, an accredited private nonprofit institution, will occupy the top floor of 435 Metropoint, a class A office tower visible from Highway 169 and I-394. The new campus will feature upgraded labs to support Herzing’s dental and nursing programs. Amenities will include an on-site coffee shop and cafeteria as well as covered parking. Dan Buettner and Brian Woolsey of Cushman & Wakefield represented Herzing in the new lease.

November 8, 2017

Midwest Minnesota Multifamily

CBRE Arranges $13.7M Sale of Two Apartment Properties in Minneapolis

by Kristin Harlow November 7, 2017

MINNEAPOLIS — CBRE has arranged the sale of Isles East and West in the Uptown area of Minneapolis for $13.7 million. The 42-unit Isles East, located at 1101 and 1105 W. 28th St., sold for $6.8 million. The 43-unit Isles West, located at 1115 and 1125 W. 28th St., sold for $6.9 million. Both properties were constructed in 1922 and feature a mix of studio, one- and two-bedroom units. Ted Abramson and Laura Hanneman of CBRE represented the sellers, Dupont Court Investors LLC and Emerson Court Investors LLC. Cedar South Pointe LLC purchased the assets.

November 7, 2017

Midwest Minnesota Multifamily

CBRE Arranges $77M Sale of 10-Property Apartment Portfolio in Suburban Minneapolis

by Kristin Harlow November 2, 2017

MINNEAPOLIS — CBRE has arranged the sale of a 10-property apartment portfolio in suburban Minneapolis for $77 million. The portfolio spans 768 units in Bloomington, Brooklyn Center, New Hope and St. Paul. Aeon, a local nonprofit affordable housing developer and owner, purchased the portfolio. Constructed between 1964 and 1970, the units range in size from studios to three-bedroom units and average 1,012 square feet. Keith Collins, Ted Abramson, Abe Appert and Laura Hanneman of CBRE represented the seller, Hillaway Investments LLC. Prior to the sale, the seller completed $2.4 million in capital improvement projects over the past three years.

November 2, 2017

Midwest Minnesota Retail

Upland Arranges $1M Sale of Retail Property in Owatonna, Minnesota

by Kristin Harlow October 30, 2017

OWATONNA, MINN. — Upland Real Estate Group Inc. has arranged the sale of Three Corners Marketplace in Owatonna, located in southern Minnesota, for $1 million. The 7,666-square-foot retail property is fully leased to four tenants including Caribou Coffee, Subway, Re-Bath and Midnight Sun Spas. Keith Sturm, Deborah Vannelli and Amanda Leathers of Upland represented the undisclosed seller. The private buyer was completing a 1031 exchange.

October 30, 2017

Industrial Midwest Minnesota

Westmount Acquires 845,622 SF Industrial Portfolio in Minneapolis

by Kristin Harlow October 26, 2017

MINNEAPOLIS — Westmount Realty Capital has acquired a five-building, 845,622-square-foot industrial portfolio in Minneapolis. The purchase price was not disclosed. Located near the Minneapolis-St. Paul International Airport, the portfolio is fully occupied. With this acquisition, Westmount now maintains more than 8 million square feet of industrial space in the Midwest region. Colliers International brokered the transaction. The seller was not disclosed.

October 26, 2017

Loans Midwest Minnesota Retail

Cohen Financial Arranges $6.5M Acquisition Loan for Retail Property in St. Cloud, Minnesota

by Kristin Harlow October 26, 2017

ST. CLOUD, MINN. — Cohen Financial has arranged a $6.5 million loan for the acquisition of a 71,000-square-foot retail property in St. Cloud in central Minnesota. Cash Wise Foods anchors the property. Dan Rosenberg and Matt Terpstra of Cohen Financial arranged the fixed-rate loan with Goldman Sachs Commercial Mortgage Capital. Midland Atlantic Properties was the borrower.

October 26, 2017

Midwest Minnesota Office

Kraus-Anderson Completes Its 100,000 SF Headquarters in Downtown Minneapolis

by Kristin Harlow October 20, 2017

MINNEAPOLIS — Kraus-Anderson has completed its new downtown Minneapolis headquarters, located at 8th Street and 5th Avenue. Employees from throughout the metro are now moving into the 100,000-square-foot campus, which consolidates the construction firm’s Twin Cities operations in a five-story facility. The new headquarters will accommodate approximately 300 employees, doubling the current downtown staff with room for future expansion on the site. Consolidation will combine employees from the Kraus-Anderson construction office in Circle Pines, as well as Kraus-Anderson Realty Co. and the development offices in Bloomington. The new building will also house Kraus-Anderson Mortgage and the parent corporation, Kraus-Anderson Cos. Kraus-Anderson Insurance will continue to operate from its offices in Burnsville. The first floor features a waiting area, conference rooms, employee cafeteria and fitness center. The majority of employee office space is located on floors two through five. An open office concept is used throughout the building, featuring electrically operated workstations, which allow employees to easily change from sitting to standing positions. Pope Architects designed the office. Kraus-Anderson partnered with ESG Architects to develop the downtown block surrounded by 8th and 9th streets.

October 20, 2017

Industrial Midwest Minnesota

Brennan Completes Sale-Leaseback of 86,460 SF Industrial Building in Oakdale, Minnesota

by Kristin Harlow October 20, 2017

OAKDALE, MINN. — Brennan Investment Group LLC has acquired an 86,460-square-foot industrial building in Oakdale, a suburb of St. Paul. The purchase price was not disclosed. The seller, Total Logistics Inc., will lease back the space from Brennan. The property is located at 2900 Granada Lane North. The acquisition was funded through a net leased joint venture with one of Arch Street Capital Advisors’ institutional clients.

October 20, 2017

Midwest Minnesota Mixed-Use Top Stories

Kraus-Anderson to Break Ground on $100M Mixed-Use Project in Downtown Minneapolis

by John Nelson October 19, 2017

MINNEAPOLIS — Kraus-Anderson Construction Co., a general contractor based in Minneapolis, plans to break ground this coming Monday, Oct. 23 on Ironclad, a $100 million mixed-use development in downtown Minneapolis. The site, currently a parking lot, is located within the historic Mills District near U.S. Bank Stadium, the newly opened home of the Minnesota Vikings NFL team. Designed by St. Paul-based Collage Architects, Ironclad will include a 14-story, 172-unit apartment building and an eight-story, 139-room, Moxy-branded hotel. The plans also call for a 3,300-square-foot restaurant; 10,000 square feet of retail space on the first floor of the hotel; and a four-story, 65,318-square-foot underground parking garage with room for 411 cars. The apartments will feature private outdoor terraces, a sky lounge and a large amenity deck with green space. The property will also feature a swimming pool, hot tubs, fire pits, cloister garden and insider amenities including electric vehicle charging stations, bike repair facility and rider lounge, sauna, theater and media center, pool table and gaming and an on-site property manager. Ironclad is owned by 811 Washington LLC, a wholly owned entity controlled by the Kharbanda family, which owns and operates multiple properties in downtown Minneapolis. The developer of the hotel …

October 19, 2017

Midwest Minnesota Office

AtWater Group Purchases 81,932 SF Office Building Near Minneapolis

by Kristin Harlow October 18, 2017

GOLDEN VALLEY, MINN. — AtWater Group LLC has purchased Valley Square Corporate Center in Golden Valley, a western suburb of Minneapolis, for an undisclosed price. The 81,932-square-foot office building is located at 7500 Olson Memorial Highway. Amenities include a three-story atrium, training room, recently renovated common areas and heated underground parking. AtWater will act as asset manager on behalf of Concorde Properties Group, an affiliate of AtWater Group. Cushman & Wakefield Minneapolis will handle the leasing and property management efforts.

October 18, 2017

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