ST. LOUIS PARK, MINN. — Kraus-Anderson has completed an 11,886-square-foot renovation for the University of Minnesota Physicians (M Physicians) in St. Louis Park, a suburb of Minneapolis. The clinic is located on the second floor of the Park Place East building at 5775 Wayzata Blvd. Designed by HDR Architects, the project was completed in two phases in order to keep the clinic open during the remodel. The reimagined clinic features a new waiting area and rooms for consults and exams as well as remodeled conference rooms. Additional upgrades include new light fixtures, carpet, tile, flooring, paint and a new wall layout.
GOLDEN VALLEY, MINN. — Architect NELSON Worldwide has designed a new shared amenity space at Golden Hills, an office building in the Minneapolis suburb of Golden Valley. The firm reconfigured the layout by removing an underutilized café and transforming it into a tenant lounge, grab-and-go market and game room. Dubbed 701 Local, the amenity space totals 1,700 square feet. There are multiple seating options and games such as air hockey.
ST. PAUL, MINN. — Kraus-Anderson has completed Phase II construction of Lexington Landing, a $24 million seniors housing development in St. Paul’s Highland Park neighborhood. Designed by Pope Design Group, the four-story building features 92 independent living units. Amenities include a pickleball court, golf simulator, club lounge, community room, library, community garden, dog park, rooftop patio, fitness room and guest suite. Lexington Landing also offers event and activity programming, spiritual care and scheduled transportation. J.A. Wedum Foundation is the owner and PHS Management LLC is the property manager.
EDEN PRAIRIE, MINN. — KCB Real Estate has acquired a 740,000-square-foot industrial portfolio across two states for an undisclosed price. The portfolio includes a flex warehouse facility in Eden Prairie, a suburb of Minneapolis, as well as two distribution facilities in Bowling Green, Ky. The Bowling Green properties were built in 1990 and 2017, while the Eden Prairie facility was constructed in 1982. All the buildings feature multiple loading docks, and the Kentucky properties include automated warehouse management systems. KCB is an investment firm based in Pasadena, Calif.
WAYZATA, MINN. — Davis has opened the Wayzata Specialty Center, a 16,147-square-foot medical office building in Wayzata, about 13 miles west of Minneapolis. Tailwind Pediatric Dentistry and Lorenz Clinic are leasing the entire second floor of the two-story building. LAK MedSpa occupies a portion of the first floor. The project replaced an outdated office building. The project team included Synergy Architecture Studio and Timco Construction. In addition to serving as developer, Davis is providing property management and leasing services for the building. Two suites on the first floor remain available for lease.
DULUTH, MINN. — JLL Capital Markets has brokered the $3.6 million sale of Irving School Apartments in Duluth, a city located along Lake Superior. The property was originally built in 1895 as a school and was placed on Minnesota’s National Register of Historic Places and converted into apartments in 1978. The building features 44 units that average 980 square feet. Devon Dvorak, Mox Gunderson, Dan Linnell, Josh Talberg and Adam Haydon of JLL represented the seller, Sherman Associates. The buyer was High Point Holdings LLC.
MINNEAPOLIS — Woda Cooper Cos. Inc. has broken ground on Shelby Commons in the North Loop neighborhood of downtown Minneapolis. The development will offer 46 affordable and supportive housing units, with 12 units dedicated to those experiencing housing insecurity. Woda Cooper is co-developing the project with Project for Pride in Living. Shelby Commons marks the first community that Woda Cooper has developed in Minnesota. Amenities at the property will include a community room, underground parking, second-floor rooftop terrace, playground and community gardens. There will also be more than 2,000 square feet of public art across two large-scale exterior murals commissioned by Juxtaposition Arts. All of the units will be designated for households earning 30 to 80 percent of the area median income. The Minnesota Public Housing Authority is providing 12 project-based vouchers for rental assistance, and Hennepin County is providing five Housing Supports for subsidizing rents and supportive services. Primary financing for Shelby Commons comes from Low-Income Housing Tax Credits allocated by the Minnesota Housing Finance Agency and the City of Minneapolis. Merchants Capital is providing equity financing. Security Bank & Trust is providing a first mortgage, and Hennepin County Accelerator is providing a second soft mortgage. Huntington National Bank …
DULUTH, MINN. — JLL Capital Markets has brokered the $8 million sale of Highland Chateau in Duluth, a Minnesota city located along Lake Superior. The 60-unit multifamily property was built in 1972. Floor plans average 814 square feet. Amenities include garage parking, onsite laundry facilities, a 24-hour fitness center and a courtyard with a grilling and picnic area. Devon Dvorak, Mox Gunderson, Dan Linnell, Josh Talberg and Adam Haydon of JLL represented the seller, Sherman Associates. Encompass Real Estate Investment Services represented the buyer, PLB Highland Chateau LLC.
MINNEAPOLIS — Developer ALCAT Broadway LLC has begun construction of The Broadway, a 182,000-square-foot speculative industrial building located at the intersection of Broadway Street and Industrial Boulevard in Minneapolis. The project will feature a clear height of 32 feet, 33 dock doors and up to 20 spaces for trailer storage. The development is situated within an Opportunity Zone. Todd Hanson, Jason Sell and Jordan Dick of Cushman & Wakefield will market the project for lease. Completion is slated for the fourth quarter.
MINNEAPOLIS — Midwest law firm Fredrikson & Byron has moved into a 158,000-square-foot office space at 60 South Sixth, a 40-story tower in downtown Minneapolis. KBS Real Estate Investment Trust III owns the 710,332-square-foot property. Fredrikson & Byron signed the lease in 2020. Amenities at 60 South Sixth include a fitness center, underground parking, concierge services, free Wi-Fi hotspots, a tenant lounge, pool table and conference center. KBS also recently signed leases with Best & Flanagan LLP, a locally based law firm, and Dacotah Bank, a Midwest financial institution. Brent Robertson, Andrea Leon and Jon Dahl of JLL represented KBS in all three leases. Mike Salmen, Larry Serota and Will McDonald of Transwestern represented Fredrikson & Byron. Brent Erickson of Newmark represented Best & Flanagan, and Kevin O’Neill of Colliers represented Dacotah Bank.