ROSEMOUNT, MINN. — Opus has completed a 90,000-square-foot recycling facility expansion for Spectro Alloys in Rosemount, a southern suburb of St. Paul. Spectro Alloys is a secondary foundry alloy producer in the Midwest. The addition enables the company to expand its product offering into billet from post-consumer scrap aluminum. Equipment will be assembled and calibrated in the facility over the next several months. With first production expected during the second half of 2025, the new facility creates an estimated 50 new jobs and adds nearly 120 million pounds per year of additional recycling capacity. Full production ramp-up is expected in the first quarter of 2026. Opus was the design-builder and architect.
Minnesota
MINNEAPOLIS — Kiser Group has expanded into Minnesota by partnering with multifamily broker Robert Dulin to open a new multifamily brokerage office. The firm maintains brokers focused on Illinois, Indiana, Michigan, Ohio and Wisconsin, and this latest expansion broadens the company’s reach across the Midwest. Kiser Group’s transaction volume is in excess of $6 billion in multifamily investment sales since its inception in 2005. Dulin, formerly a director at Cushman & Wakefield, brings 15 years of multifamily brokerage experience to his role as executive director for Kiser’s Minneapolis-St. Paul operations.
HOPKINS, MINN. — Kraus-Anderson has completed construction on Hallon II, a luxury apartment building in Hopkins, a southwest suburb of Minneapolis. Designed by ESG Architecture and Design, the seven-story, 398,822-square-foot community features 250 units and 10,000 square feet of retail space. Outdoor amenities include a third-floor courtyard with pool, hot tub, fitness area, game lawn, lounge and grill stations. Interior amenities include a sauna, fitness and yoga studio, speakeasy with connected sky deck, listening lounge and pet wash station. Construction began in September 2022.
ROCHESTER, MINN. — CBRE has arranged the $6.9 million sale of Lofts at Mayo Park, a 29-unit apartment building in Rochester. Built in 2017, the property features one- and two-bedroom floor plans averaging 942 square feet. Amenities include a fitness center, bike storage, pet washing station, heated underground parking and rooftop terraces. CBRE’s Ted Abramson, Abe Appert and Keith Collins represented the seller, Eastbank Lofts LLC. The buyer was Eaststar Trust LLC.
BROOKLYN PARK, MINN. — JLL Capital Markets has arranged the sale of 610 West Apartments, a 480-unit apartment complex in the Twin Cities suburb of Brooklyn Park. Built between 2016 and 2018, the property features four buildings with units averaging 1,003 square feet. Amenities include three swimming pools, two courtyards, a 22,000-square-foot clubhouse, fitness center, sauna, golf simulator and heated underground parking. Josh Talberg and Joseph Peris of JLL represented the seller, The Doran Group. Scott Loving, Ken Dayton and Pat McMullen of JLL originated acquisition financing through Fannie Mae on behalf of the buyer, Spyglass Capital Partners.
DAYTON, MINN. — States Manufacturing Corp. has signed a 503,440-square-foot industrial lease to occupy half of The Cubes at French Lake in Dayton, a suburb of Minneapolis. CRG developed the 1 million-square-foot facility, which marks the largest speculative industrial project ever completed in the state. Built in 2024, the cross-dock warehouse features a clear height of 40 feet, 169 dock doors, four drive-in dock doors, 60-foot speed bays, a concrete truck court with 185-foot depth, 231 trailer parking spaces and 652 car parking spaces. Dan Swartz, James DePietro and Austin Lovin of CBRE represented CRG in the lease, while Brent Masica and Danny McNamara of Cushman & Wakefield represented the tenant. The lease marks the largest industrial lease signed in the Twin Cities market in the past two years, according to CBRE. States Manufacturing has started building out its space to support the fabrication and manufacturing of custom electronic and metal products. The company will maintain its current headquarters in Champlin, Minn. CRG integrated partner Lamar Johnson Collaborative designed The Cubes at French Lake, and parent company Clayco served as general contractor.
BRAHAM AND SANDSTONE, MINN. — JLL Capital Markets has brokered the sale of a two-property affordable housing portfolio totaling 84 units in rural Minnesota for an undisclosed price. Braham Meadows in Braham was built between 1978 and 1980. There are 42 units averaging 1,024 square feet each. Sandy Pines in Sandstone was built in 1979. There are 42 units across 47,400 square feet of rentable space. Both properties operate under project-based Housing Assistance Payments contracts and maintain 88 percent occupancy rates. JLL represented the seller, Gaughan Cos. The sales were part of a larger affordable housing portfolio consisting of five assets with 256 units. The locally based buyer specializes in acquisition rehabs to maintain long-term viability of apartment communities.
FOREST LAKE, MINN. — JLL Capital Markets has arranged the $24.5 million sale of Village Apartments in Forest Lake, about 27 miles northeast of St. Paul. The 252-unit apartment community was constructed in 1969 and consists of three buildings. Amenities include picnic areas, a playground, pool and bike racks. Josh Talberg of JLL represented the seller, Gaughan Cos. The buyer was undisclosed. Village Apartments marks the seventh property to trade in the larger 800-unit Minnesota Legacy Apartment Portfolio that JLL has been marketing for sale.
ROSEVILLE, MINN. — Realterm has acquired a 6.3-acre industrial outdoor storage facility in the Minneapolis suburb of Roseville for an undisclosed price. Developed in 2021, the Class A property at 2340 Rose Place West features five oversized drive-in doors, four dock-high loading positions and a two-story, 7,300-square-foot office component. The site is fully leased to an asset-light freight and logistics company that provides services across the United States and Canada. Chris Weirens of Transwestern facilitated the transaction and represented the undisclosed seller. The transaction marks Realterm’s third acquisition in the region.
WAYZATA, MINN. — JLL Capital Markets has arranged the $17.5 million sale of 401 Lake Street, a Class A building with office and retail space in the western Minneapolis suburb of Wayzata. Completed in 2022, the three-story property totals 19,014 square feet and features a 4,600-square-foot roof deck, wraparound balconies on each floor and underground parking for 40 vehicles. Currently 45.8 percent occupied, the asset is home to Brick + Linen and Compass. Colin Ryan and Dave Berglund of JLL represented the seller, Lothenbach Properties LLC, and procured the undisclosed buyer. The sale represents the highest price per square foot for office sales in Minnesota history, according to JLL.