Friday, November 7, 2025
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DevelopmentMidwestMinnesotaOffice

Opus Breaks Ground on 115,000 SF Spec Office Building in Edina, Minnesota

by Kristin Harlow

EDINA, MINN. — Opus has broken ground on Arcadia, a 115,000-square-foot speculative office building at 5100 Eden Ave. in the Minneapolis suburb of Edina. The building will also serve as the developer’s headquarters. Arcadia is located in Edina’s Grandview District on the site of the former Eden 100 building. The development will include a six-story, multi-tenant office building with amenities such as a lobby with fireplace, gathering spaces, conference rooms, an employee training room, private tenant clubroom, workout facility and outdoor terrace. Opus is the developer and design-builder and will occupy Arcadia’s top floor, taking approximately 28,000 square feet. Joe Conzemius, Larissa Bodine, Anne Rinde and Elle Westphal of CBRE are marketing the remaining space for lease. ESG Architecture & Design is the architect of record.

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AcquisitionsMidwestMinnesotaMultifamily

JLL Brokers Sale of 216-Unit Luxury Apartment Community in Uptown Minneapolis

by Kristin Harlow

MINNEAPOLIS — JLL Capital Markets has brokered the sale of Flux Apartments, a 216-unit luxury apartment community in the Uptown neighborhood of Minneapolis. Built in 2012, the property features amenities such as an outdoor pool, fitness center, yoga studio, outdoor courtyard and dog park. There are 27 floor plans averaging 758 square feet each. Josh Talberg and Joseph Peris of JLL represented the seller, Nuveen Real Estate, and procured the undisclosed buyer.

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DevelopmentIndustrialMidwestMinnesota

Zenith IOS Completes 40,000 SF Cold Storage Build-to-Suit for Kemps in Minneapolis

by Kristin Harlow

MINNEAPOLIS — Zenith Industrial Outdoor Storage (IOS) has completed a cold storage build-to-suit for Kemps, a farmer-owned brand of Dairy Farmers of America. Kemps signed a 15-year lease for the property in Minneapolis. Zenith acquired the 11-acre site, formerly home to a heavy industrial metal recycling business, in June 2022. In conjunction with Bainey & Co. as general contractor, Zenith converted the property into a 40,000-square-foot cold storage and dairy distribution hub. Kemps traces its Minneapolis roots back to 1914, when William Kemps and Walter Lathrop founded the Lathrop-Kemps Ice Cream Co. at 222 Fifth St. Now based in St. Paul, Kemps maintains approximately 1,000 employees and is a producer of milk and other dairy products. The company currently operates seven manufacturing facilities in Minnesota, Wisconsin, Iowa, Illinois and Indiana. The new cold storage distribution site will also support the company’s bottling facility, located roughly one mile away. CBRE is currently marketing the southern parcel of the site for sale. It includes a 22,000-square-foot warehouse on the remaining 3 acres of land.

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LoansMidwestMinnesotaOffice

Accesso Secures Loan Extension for 57-Story IDS Center Office Tower in Minneapolis

by Kristin Harlow

MINNEAPOLIS — Accesso has secured a one-year extension on the loan associated with the IDS Center, a 57-story office tower in Minneapolis. Ownership has also secured 110,000 square feet in new leases signed since the beginning of the year. Some of the recent activity includes a 25,513-square-foot, full-floor lease for Associated Bank NA, a 23,796-square-foot renewal for Husch Blackwell LLP, a 15,179-square-foot renewal for Zimmerman Reed LLP and a 13,515-square-foot renewal and expansion for architecture and design firm Perkins&Will. Spanning 1.4 million square feet, IDS Center features a public plaza and retail storefronts in addition to office space.

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Leasing ActivityMidwestMinnesotaRetail

JLL Negotiates Retail Leases for Six New Tenants at 1.1 MSF Rosedale Center in Metro Minneapolis

by Kristin Harlow

ROSEVILLE, MINN. — JLL has negotiated retail leases for six new tenants at Rosedale Center, a 1.1 million-square-foot shopping center in Roseville within metro Twin Cities. The leases include Kendra Scott, J.Crew Factory, Johnston & Murphy, Lolli & Pops, Paris Baguette and BRKTHROUGH. Additionally, Dick’s Sporting Goods, Legendary Spice, Boba X and Kukuri recently opened at the center. Holly Rome and Lane Walsh of JLL lead the leasing effort at Rosedale Center and secured the new leases.

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DevelopmentHospitalityMidwestMinnesota

Kraus-Anderson Completes $11.8M Pool, Sauna Haus at Giants Ridge Resort in Northeast Minnesota

by Kristin Harlow

BIWABIK, MINN. — Kraus-Anderson’s Duluth office has completed construction of the new Pool & Sauna Haus at Giants Ridge in Biwabik, a city in northeast Minnesota. The $11.8 million, 9,700-square-foot facility expands the resort’s amenities. Construction began in July 2024. Designed by RSP Architects, the Pool & Sauna Haus features a pool, hot tub, locker rooms and a fireplace lounge that provides a space to gather after a day on the slopes, trails or golf courses. Outside the building are two standalone saunas. A new community room, available for public rental, offers flexible space for birthday parties, gatherings and events.

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DevelopmentIndustrialMidwestMinnesota

Kraus-Anderson Completes 41,250 SF Manufacturing Facility in Hibbing, Minnesota

by Kristin Harlow

HIBBING, MINN. — The Duluth office of Kraus-Anderson has completed a new manufacturing facility for Advanced Machine Guarding Solutions (AMGS) in Hibbing, a city in northeast Minnesota. The 41,250-square-foot building is owned by the Hibbing Economic Development Authority. Designed by Widseth Architects, the project features a 35,000-square-foot manufacturing area and a 3,750-square-foot office. AMGS manufactures steel perimeter guarding for machines and robotics. Construction began in August 2024.

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AcquisitionsMidwestMinnesotaMultifamily

Colliers Brokers $66M Sale of Multifamily Portfolio in Metro Minneapolis

by Kristin Harlow

RAMSEY AND ZIMMERMAN, MINN. — Colliers has brokered the $66 million sale of the Northwest Apartment Collection, a three-property, 304-unit multifamily portfolio in metro Minneapolis. The properties include Park View East and Sapphire in Ramsey as well as Depot on Main in Zimmerman. Built between 2017 and 2020, the communities offer a mix of one-, two- and three-bedroom units. Amenities include fitness centers, lounges, package lockers and pools.  Park View East and Sapphire together comprise 239 units within COR, a 320-acre master-planned community anchored by the NorthStar Commuter Rail with direct access to downtown Minneapolis. Depot on Main includes 65 units. Mox Gunderson, Dan Linell, Adam Haydon and Devon Dvorak of Colliers brokered the sale. Dakota REIT was the buyer.

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CivicDevelopmentMidwestMinnesota

Kraus-Anderson Breaks Ground on $39M Graham Park Exhibition Center in Rochester, Minnesota

by Kristin Harlow

ROCHESTER, MINN. — Kraus-Anderson has broken ground on the $39 million Graham Park Exhibition Center in Rochester. The multipurpose facility will serve as a year-round hub for sports events, concerts, livestock and horse shows, trade shows and cultural celebrations in southeast Minnesota. Designed by LHB Architecture and CRW Architecture + Design Group, the 80,000-square-foot property will feature a 49,000-square-foot main area with retractable seating for up to 1,500 people, a 16,500-square-foot warm-up arena for pre-event activities and an outdoor activity pad for flexible outdoor events. The project will also include space for 250 portable stalls and accommodations for visitors, exhibitor and animals. Completion is slated for early 2027.

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AcquisitionsMidwestMinnesotaMultifamily

JLL Brokers Sale of 95-Unit Park Villas Apartments in Waite Park, Minnesota

by Kristin Harlow

WAITE PARK, MINN. — JLL Capital Markets has brokered the sale of Park Villas Apartments, a 95-unit community situated on 7 acres in Waite Park, a city in central Minnesota. The property features 71 one-story, cottage-style units and 24 two-story townhomes for residents age 55 and older. The community was built in 1991 and renovated in 2008. Units average 931 square feet. Josh Talberg, Joseph Peris, Ken Dayton, Pat McMullen and Jack Graveline of JLL represented the seller, Podawiltz Development Corp., and procured the buyers, Noel Johnson and Jamison Kohout of Venture Development Group.

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