Minnesota

Valley Natural Foods to Expand in Burnsville, Minnesota

by Kristin Harlow September 12, 2017

BURNSVILLE, MINN. — Valley Natural Foods has unveiled plans to expand its grocery operation in Burnsville, approximately 15 miles south of Minneapolis. The company acquired a building adjacent to its existing 15,000-square-foot property and plans to add an additional 11,000 square feet of space. Built by Loeffler Construction and designed by Wilkus Architects, the building will be remodeled to expand food service, catering service, fresh departments and shopping convenience. The store will feature a new community room for meetings and a classroom for cooking classes. Existing Valley Natural Foods employees will staff the expanded facility. Construction will begin this month and is slated for completion in spring 2018.

September 12, 2017

Alabama Florida Illinois Industrial Michigan Midwest Minnesota Southeast Top Stories

Brennan Investment, Arch Street Acquire $100M Industrial Portfolio in Midwest, Southeast

by Taylor Williams September 11, 2017

CHICAGO AND GREENWICH, CONN. — A joint venture (JV) between Chicago-based Brennan Investment Group and Greenwich-based Arch Street Capital Advisors LLC has acquired a portfolio of 11 industrial properties totaling roughly 2.5 million square feet. The portfolio is valued at approximately $100 million. The properties are located in various markets throughout the Midwest and Southeast, including Chicago, Minneapolis and Grand Rapids, Mich., as well as Jacksonville, Fla., and Birmingham, Ala. The transaction marks the JV’s sixth acquisition since its formation in 2011. Since that time, it has acquired more than $1 billion in single-tenant, net-leased industrial properties. “This acquisition represents the breadth and depth of our net-lease platform,” says Michael Brennan, chairman and managing principal of Brennan. “We have the ability to both acquire large portfolios and to aggregate individual long-term, net-lease assets and can invest across the U.S. in both long- and short-duration net-leased properties with an emphasis on mission-critical assets.” The JV will continue to target investment opportunities involving all types of industrial properties, including assembly plants, research and development facilities and distribution centers. Specifically, it will pursue properties that are located in a top 100 market, have a remaining lease term of at least 10 years and …

September 11, 2017

Healthcare Midwest Minnesota

Minnesota Autism Center to Expand Campus by 20,000 SF in Eagan

by Kristin Harlow September 8, 2017

EAGAN, MINN. — Minnesota Autism Center (MAC) has unveiled plans to expand its campus in Eagan by adding a new, 20,000-square-foot building. Peter Fitzgerald of Cushman & Wakefield represented the nonprofit organization in its purchase of nearly four acres adjacent to the current campus. Minneapolis-based Ryan Cos. US Inc. will construct the new building, and RSP Architects (RSP) will serve as architect. Cushman & Wakefield, Ryan Cos., RSP and several subcontractors have contributed various donations to support the newest development within MAC’s therapy campus, which will now include three buildings offering a variety of specialized autism services. Ryan Cos. broke ground on the new building in June, with completion slated for the end of the year. The original, 38,000-square-foot MAC opened in 2007.

September 8, 2017

Midwest Minnesota

Kraus-Anderson Completes Construction of $45M High School in St. Peter, Minnesota

by Kristin Harlow August 30, 2017

ST. PETER, MINN. — Kraus-Anderson Construction Co. has completed St. Peter High school in St. Peter, about 65 miles south of Minneapolis. The $45 million, 183,500-square-foot school features a 720-seat auditorium, learning resource center,classrooms, science rooms, special education rooms, media center and video production studios. A large commons area serves as a lunchroom and meeting space. Athletic additions include a new gymnasium with three basketball courts, multi-purpose activity center, fitness room, eight tennis courts, baseball field, softball field, six multi-purpose athletic fields and locker rooms. ISG Architects designed the two-story building.

August 30, 2017

Industrial Midwest Minnesota

Kraus-Anderson Breaks Ground on 50,000 SF Addition to Banner Engineering Headquarters in Minneapolis

by Kristin Harlow August 23, 2017

MINNEAPOLIS — Kraus-Anderson Construction Co. has broken ground on a research and development building at Banner Engineering’s headquarters in Minneapolis. The new building will enable the industrial automation technology provider to create more than 225 jobs and accelerate new product development for smart sensor technologies, according to Banner Engineering. The property is located at 9714 10th Ave. North. Designed by HCM Architects and slated for completion in summer 2018, the 50,000-square-foot addition will include labs, training spaces and over 44,000 square feet of new office space.

August 23, 2017

Midwest Minnesota Multifamily

Joint Venture Breaks Ground on 322-Unit Apartment Community Near Minneapolis

by Kristin Harlow August 18, 2017

MINNETONKA, MINN. — A joint venture between LeCesse Development Corp., Morgan Management and UC Funds has broken ground on RiZE at Opus Park, a 322-unit apartment community in Minnetonka, a western suburb of Minneapolis. The $73 million project is a redevelopment of the Opus Business Park. The property will feature studio, one- and two-bedroom units. Plans call for construction of a six-story building and a 492-car parking garage. Amenities will include a clubhouse, fitness center, movie theater, resort-style pool and courtyards. US Bank provided construction financing. Humphreys & Partners Architects is the project architect, while Stonebridge Construction is the general contractor. Loucks Engineering is providing civil engineering services and Terracon is serving as environmental consultant. Completion is slated for winter 2018.

August 18, 2017

Loans Midwest Minnesota Multifamily Student Housing

Deering Commercial Mortgage Arranges $16.5M Refinancing Loan for Student Housing Property in Minneapolis

by Kristin Harlow August 18, 2017

MINNEAPOLIS — Deering Commercial Mortgage LLC has arranged a $16.5 million loan for the refinancing of a student housing property in Minneapolis. The 92-unit property, called 1301 University, is located near the University of Minnesota. The building features studio, one-, two-, three- and four-bedroom units. Amenities include a fitness center and underground parking. Len Deering of Deering Commercial Mortgage arranged the 10-year loan. Goldman Sachs provided the loan.

August 18, 2017

Industrial Midwest Minnesota

Marcus & Millichap Brokers $3M Industrial Sale-Leaseback in Bloomington, Minnesota

by Kristin Harlow August 18, 2017

BLOOMINGTON, MINN. — Marcus & Millichap has brokered the sale of an 82,350-square-foot industrial building in Bloomington for $3 million. The property is located at 8301 Grand Avenue South. U.S. Venture, a distributor of energy, automotive and lubricants products, was the seller. As part of the sale, U.S. Venture executed a 10-year, triple-net lease and will remain in the building. U.S. Lubricants, a division of U.S. Venture, will continue to use the building as a bulk storage and distribution center. Other tenants include Nikolas Bakery and Companies to Classrooms, a non-profit organization that donates office supplies and furniture to local schools. Marc Paylor and Claire Roberts of Marcus & Millichap represented the seller in the transaction. Nick Leviton of Colliers International secured and represented the buyer, a limited liability company.

August 18, 2017

Midwest Minnesota Multifamily Seniors Housing

Dominium Breaks Ground on 194-Unit Affordable Seniors Housing Community Near Minneapolis

by Kristin Harlow August 10, 2017

SPRING LAKE PARK, MINN. — Dominium has broken ground on the Legends of Spring Lake Park, a 194-unit affordable seniors housing community in Spring Lake Park, which is located 12 miles north of Minneapolis. The property will be situated on the former site of Goony Golf at 1066 County Highway 10 NE. The community will feature two- and three-bedroom units, along with amenities such as a community room, kitchen, craft room, beauty salon, library and fitness room. Completion is slated for fall 2018. Residents age 55 and older making less than 60 percent of the area median income will qualify for living at the community.

August 10, 2017

Midwest Minnesota Net Lease Retail

Marcus & Millichap Arranges $2.2M Sale of Property Net Leased to O’Reilly Auto Parts in Minneapolis

by Kristin Harlow August 10, 2017

MINNEAPOLIS — Marcus & Millichap has arranged the sale of a 7,500-square-foot property net leased to O’Reilly Auto Parts in Minneapolis for $2.2 million. The building is located at 710 E. Lake St. Sean Doyle, Matthew Hazelton, AJ Prins and Cory Villaume of Marcus & Millichap marketed the property on behalf of the seller, an unnamed developer. The team also secured and represented the buyer, a California-based fund manager.

August 10, 2017

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