Tuesday, November 26, 2024
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Minnesota

Leasing ActivityMidwestMinnesotaOffice

Transwestern Negotiates Two Office Lease Renewals at SPS Tower in Downtown Minneapolis

by Kristin Harlow

MINNEAPOLIS — Transwestern Real Estate Services has negotiated two office lease renewals for two separate wealth management companies at SPS Tower in Minneapolis. CAPTRUST signed a five-year renewal for its 6,800-square-foot space. Frank Sherwood of CBRE represented the firm. Strong Tower Wealth Management renewed its 3,500-square-foot lease for 15 months. John Lorence of CBRE represented the company. Jim Montez and Reed Christianson of Transwestern represented ownership, Sumitomo, in both leases. SPS Tower rises 31 stories and totals 655,070 square feet. The building features the Turf Club, the largest green space in the Minneapolis central business district, according to Transwestern. SPS Tower is currently 90 percent leased.  

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIndustrialMidwestMinnesota

PCCP, Endeavor Development to Build Next Phase of Arbor Lakes Business Park in Maple Grove, Minnesota

by Kristin Harlow

MAPLE GROVE, MINN. — A joint venture between PCCP and Endeavor Development has begun Phase II of Arbor Lakes Business Park in the Minneapolis suburb of Maple Grove. This second phase includes two buildings totaling 406,000 square feet. The buildings will each feature a clear height of 32 feet along with dock doors, drive-in doors, ample car parking and a shared 180-foot truck court. RJ Ryan is the general contractor. First National Bank of Omaha provided the construction loan. Phase I, which encompasses two buildings totaling 443,097 square feet, is slated for completion soon.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialMidwestMinnesota

MLG Capital Acquires Hampshire Technology Center in Bloomington, Minnesota

by Kristin Harlow

BLOOMINGTON, MINN. — MLG Capital has acquired Hampshire Technology Center in the Minneapolis suburb of Bloomington for an undisclosed price. The Class B flex industrial property totals more than 144,000 square feet across 14 acres. MLG acquired the asset in partnership with Hoyt Properties and plans to make interior renovations. Hampshire Technology Center marks MLG’s 25th investment in metro Minneapolis and the 11th acquisition within its MLG Private Fund VI, which launched in May 2022.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestMinnesotaMultifamily

Marcus & Millichap Arranges $2.4M Sale of Minneapolis Multifamily Portfolio

by Kristin Harlow

MINNEAPOLIS — Marcus & Millichap has arranged the $2.4 million sale of 1709 and 1715 Lagoon Ave., a pair of contiguous parcels with 17 multifamily units in Minneapolis. Constructed in 1916, the two- and three-story buildings are situated in the city’s Uptown neighborhood. Abe Roberts and Michael Jacobs of Marcus & Millichap brokered the sale. Buyer and seller information was not released.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentLife SciencesMidwestMinnesota

Ryan Cos., C. S. McCrossan to Develop Minnesota Science and Technology Center in Suburban Minneapolis

by Kristin Harlow

MAPLE GROVE, MINN. — Ryan Cos. US Inc. and C. S. McCrossan Inc. have unveiled plans to build the Minnesota Science and Technology Center in Maple Grove, a suburb of Minneapolis. The 100-acre campus will offer build-to-suit opportunities for scientists, innovators and researchers as well as some light industrial and manufacturing components. For more than 60 years, the project site served as a source of high-quality aggregate, which McCorssan used in the construction of many large road and infrastructure projects in the Twin Cities. In addition to its role as co-developer and land partner, Ryan will also serve as the builder and site planner. A timeline for construction was not released.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIndustrialMidwestMinnesota

United Properties Begins Development of New Headquarters for Minneapolis Glass in Brooklyn Park, Minnesota

by Kristin Harlow

BROOKLYN PARK, MINN. — Developer United Properties has broken ground on a new 115,000-square-foot headquarters for Minneapolis Glass Co. in Brooklyn Park, a suburb of Minneapolis. The industrial development is named 610 Junction-West. Established in 1937, Minneapolis Glass is a glass and glazing fabrication company that provides manufacturing, installation and distribution services. The new headquarters will house expanded glass and metal fabrication, global sourcing and distribution facilities, administrative offices and a consumer showroom. All 100 full-time employees will move to the new space, and the company intends to hire additional positions. Completion is slated for 2024. Project partners include the City of Brooklyn Park, Lampert Architects, Sambatek and R.J. Ryan Construction.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestMinnesotaMultifamily

SRS Brokers $26.9M Sale of Apartment Complex in Rochester, Minnesota

by Kristin Harlow

ROCHESTER, MINN. — SRS Real Estate Partners has brokered the $26.9 million sale of Residence at Discovery Square, a 138-unit apartment complex in Rochester. Built in 2018 and located at 511 3rd Ave. SW, the property rises seven stories and features 11,831 square feet of ground-floor retail space. The community, which was roughly 95 percent leased at the time of sale, is part of Discovery Square, a district built in collaboration with the Mayo Clinic. Frank Rogers and Michael Carter of SRS, along with Chad Behnken of Hamilton Real Estate, represented the seller, a Rochester-based investor. Rochester-based Black Swan Real Estate was the buyer. The sales price represents the highest price paid for a multifamily property so far this year in Minnesota, according to SRS.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityMidwestMinnesotaOffice

Accesso Completes New Office Leases Totaling 57,113 SF at IDS Center in Minneapolis

by Kristin Harlow

MINNEAPOLIS — Owner Accesso has completed new office leases or renewals totaling 57,113 square feet at IDS Center in Minneapolis. The tenants, which are in various industries such as finance, legal and business consulting, include: Fabyanske, Westra, Hart & Thomson; Hursch Blackwell LLP; WiseFool; Bremer Bank National Association; Mattel Sales Corp.; and Lathrop GPM. IDS Center rises 47 stories and totals 1.4 million square feet.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestMinnesotaMultifamily

JLL Brokers Sale of 207-Unit Urbana Court Apartment Complex in Brooklyn Park, Minnesota

by Kristin Harlow

BROOKLYN PARK, MINN. — JLL Capital Markets has brokered the sale of Urbana Court, a 207-unit apartment complex in the Twin Cities suburb of Brooklyn Park. The sales price was undisclosed. Completed in 2021, the property features units with an average size of 877 square feet. Amenities include a pool, fitness center, private dog park, outdoor pergolas and pickleball courts. Dan Linnell, Mox Gunderson, Josh Talberg and Adam Haydon of JLL represented the seller, Trident Development LLC, and the buyer, Turner Impact Capital.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestMinnesotaMultifamily

Marcus & Millichap Brokers $1.7M Sale of Multifamily Property in Bemidji, Minnesota

by Kristin Harlow

BEMIDJI, MINN. — Marcus & Millichap has brokered the $1.7 million sale of Kestrel Pines Townhomes in Bemidji, a city in northern Minnesota. Constructed in 2005, the rental townhome property consists of 30 units and is located at 906 26th St. NW. The units feature individual garages, patios and washers and dryers. Chris Collins and Evan Miller of Marcus & Millichap represented the buyer and seller, both of which were limited liability companies.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts