MINNEAPOLIS — The Opus Group and Greco LLC have broken ground on a 144-unit apartment project in the North Loop neighborhood of Minneapolis. The project will include 14,000 square feet of ground-level retail space and amenities such as a fitness center, concierge services, dog wash and bike storage. A second-level amenity deck will include an outdoor pool and bar, grilling areas and a wood burning fireplace. The building will also feature a sixth-floor rooftop terrace with a grilling area, outdoor bar, fire pit and pool. The project is slated for completion by the end of summer 2017. Opus Development Co. and Greco will co-develop the project. Opus Design Build will be the design-builder. Opus AE Group and ESG Architects will design the project. TCF Bank is the lender.
MINNETONKA, MINN. — Real estate developer United Properties has broken ground on Cherrywood Pointe of Minnetonka, a 100-unit independent living, assisted living and memory care community in the Minneapolis suburb of Minnetonka. The four-story, 139,579-square-foot community will feature 72 independent living/assisted living units, 22 memory care apartments and six care suites — a home-like alternative to skilled nursing. Tushie Montgomery Architects and Henricksen for Human Care designed the project. Weis Construction is building the community, which is scheduled for completion by summer 2017. Cherrywood Pointe of Minnetonka is the fifth United Properties assisted living community managed by Ebenezer Management Services.
MINNEAPOLIS — The Opus Group has completed a new office headquarters property for Xcel Energy in downtown Minneapolis. The 222,000-square-foot project is located at the north end of Nicollet Mall, a 12-block shopping, dining and commercial district. 401 Nicollet is a two-building campus that consolidated operations that were previously spread throughout Minneapolis. The complex features collaborative work spaces with flexible furniture, technology and conference areas, as well as a skyway that connects the two nine-story buildings.
MAPLEWOOD, MINN. — Dougherty Mortgage LLC has closed a $4.5 million Fannie Mae loan to refinance Sibley Cove Apartments, an 81-unit affordable housing complex in Maplewood, five miles north of St. Paul. Units include washers and dryers, walk-in closets and kitchen appliances. Community amenities include a heated underground parking garage, playground, fitness center and a car wash station. The adjustable-rate loan features a seven-year term and 30-year amortization schedule. The borrower is Sibley Cove LP.
FOREST LAKE, MINN. — Gaughan Cos./CORFAC International has developed a 20,400-square-foot mixed-use property in Forest Lake, approximately 30 miles northeast of Minneapolis. The property is situated within the City Center Commons retail center. Tenants at the property include Keller Williams, Maplewood Oral Surgery and Thrifty White. There is approximately 3,000 square feet still available for a fast-casual restaurant.
COTTAGE GROVE, MINN. — Marcus & Millichap has brokered the sale of a 10,291-square-foot office building for $3.2 million. A developer sold 80th Street Commons, which is located at 7500 80th St. S. in Cottage Grove, approximately 25 miles southeast of Minneapolis. An individual personal trust was the buyer. Sean Doyle, Adam Prins, Matthew Hazelton and Cory Villaume of Marcus & Millichap listed the property on behalf of the seller.
MINNEAPOLIS — Ackerberg has executed a long-term lease with HeadFlyer Brewing, a newly founded taproom and brewery, to occupy 9,435 square feet in the Miller Textile Building located at 861 E. Hennepin Ave. in northeast Minneapolis. The speculative project is now 61 percent leased. Renovation of the property began in December 2015 as part of the transformation of the former Miller Bag Building into office and retail space. The newly branded Miller Textile Building now includes 10,000 square feet of retail and 38,000 square feet of office space, with 84 free off-street parking stalls in a four-story building. HeadFlyer Brewing will open this fall. According to the Minneapolis Star-Tribune, for decades the Miller Bag Co. produced potato sacks, seed bags and feed bags for the agricultural market, later adding a production line for bags for Toro lawn mowers. In 1999, the Miller Bag Co. merged with another firm and today that entity is known as The Airtex Group, which provides multi-faceted textile design and manufacturing solutions. Ackerberg is developing the project. Additional project partners include general contractor Bainey Construction and project architect RoehrSchmitt. First Western Bank and the City of Minneapolis provided financing. The Metropolitan Council and the Department of …
ROSEVILLE, MINN. — VANTive Group, a franchise company based in Chicago, has signed a 2,000-square-foot lease at 2425 Rice St. in Roseville for a new Dunkin’ Donuts restaurant. It is the first lease in Minnesota for the VANTive Group, which owns five existing Dunkin’ Donuts restaurants in the Chicago area. Roseville is located eight miles northeast of Minneapolis. The restaurant site, owned by Hempel, is under construction and the restaurant is scheduled to open this fall.
ST. PAUL, MINN. — Marcus & Millichap has arranged the sale of a 28-unit apartment property in St. Paul for $2.3 million. Birmingham Woods, located at 1424 and 1426 Case Ave., was built in the early 1980s and consists entirely of three-bedroom/one-bathroom units. A private investor purchased the asset from a limited liability company. The seven-building complex features amenities such as a pet play area, courtyard, laundry facility, extra storage and garage parking. Mox Gunderson, Dan Linnell, Josh Talberg and Evan Miller of Marcus & Millichap listed the property on behalf of the seller and procured the buyer.
NORTHFIELD, MINN. — Valley Natural Foods has unveiled plans to open a $2 million wholesale meat processing plant in Northfield, approximately 45 miles south of Minneapolis. Valley Natural Meats Inc., situated on 16 acres, will include a 4,400-square-foot processing plant and a 4,000-square-foot holding barn. The company also has plans to add two 30-by-70 foot buildings at a later date that will be used to grow plants, herbs and flowers. The facility, located at 1595 57th St. W., will be MDA (Minnesota Department of Agriculture) and organic-certified. The building is expected to be operational by this November. Valley Natural Foods has a goal of becoming USDA certified and plans to process deer, bison, lamb and goat by 2018.