Minnesota

Stahl Named Construction Manager for Dual-Branded Hotel in Downtown Minneapolis

by Kristin Harlow May 16, 2019

MINNEAPOLIS — Lake City Hospitality LLC, comprised of Eagan-based JR Hospitality and Iowa-based Hawkeye Hotels, is partnering with Stahl to convert a vacant office tower and surrounding site located at 317 Second Ave. in downtown Minneapolis into a dual-branded Hilton hotel. The eight-story building will undergo an $18.8 million renovation and 41,129-square-foot addition. The newly transformed space will feature 201 Tru and Home2 Suites guestrooms. Originally built in 1900, the existing 76,000-square-foot building was previously known as the William E. McGee Building. The facility was occupied by Hennepin County’s Office of the Public Defender for over 20 years, but the property has been vacant since 2012. JR Hospitality originally acquired the structure in 2017 before partnering with Hawkeye Hotels in late 2018. Ramaker & Associates Inc. is the project architect. Completion is slated for May 2020.

May 16, 2019

Acquisitions Midwest Minnesota Retail

KW Commercial Brokers $3.9M Sale of Retail Center in Bloomington, Minnesota

by Kristin Harlow May 15, 2019

BLOOMINGTON, MINN. — KW Commercial has brokered the sale of Amsden Ridge Shopping Center in Bloomington for $3.9 million. The two-building, 27,559-square-foot retail center is located on Ensign Avenue South. The shopping center includes retail, restaurant and office tenants. Matthew Klein of KW Commercial represented the seller, Amsden LLC, and secured the buyer, Hoss Bros. LLC.

May 15, 2019

Acquisitions Industrial Midwest Minnesota Self-Storage

KW Commercial Arranges $2.7M Sale of Self-Storage Facility in Minnesota

by Kristin Harlow May 6, 2019

FOREST LAKE, MINN. — KW Commercial has arranged the sale of A-1 Mini Storage in Forest Lake for $2.7 million. The self-storage facility is located northeast of the Twin Cities metro area. Built in 1997, the 38,450-square-foot property was expanded in 2007 and 2008. It now spans 10 buildings. Tom Flannigan, Alex Ihrke and Corly Wilkerson of KW Commercial represented the undisclosed seller. The buyer has the opportunity to add an onsite office and utilize the 15.5-acre site for additional mini-storage buildings, according to the brokers.

May 6, 2019

Acquisitions Midwest Minnesota

Nonprofit Organization Purchases 18,266 SF Property in North Minneapolis

by Kristin Harlow May 6, 2019

MINNEAPOLIS — Big Brothers Big Sisters Twin Cities (BBBS) has purchased an 18,266-square-foot building situated along Washington Avenue in north Minneapolis. The facility will serve as the nonprofit mentoring and youth development organization’s new center of operations. Property renovations are slated for completion in late 2020. Earlier this year, BBBS launched a $5 million capital campaign to fund the purchase and renovation. Jaclyn May, Jeremy Striffler and Paul Donovan of Cushman & Wakefield represented BBBS in its search and acquisition. Gensler will lead design and Greiner will lead construction for the renovation.

May 6, 2019

Development Midwest Minnesota

Kraus-Anderson Begins $24.7M Expansion at High School in Minnesota

by Kristin Harlow May 3, 2019

NEW BRIGHTON, MINN. — Kraus-Anderson has begun construction on a $24.7 million expansion at Irondale High School in New Brighton, about 10 miles north of Minneapolis. Designed by Wold Architects and Engineers, the 80,000-square-foot project features seven new classrooms and breakout spaces, expanded hallways, open spaces, a 5,600-square-foot administration office, science lab and a 650-seat auditorium. Plans also call for the removal of the pool to accommodate a new fitness center and multipurpose area. Most of the project is expected to be completed by December 2020.

May 3, 2019

Development Midwest Minnesota Multifamily

Kroiss Development, D/O Architecture to Break Ground on 10-Story Condo Building in Minneapolis

by Kristin Harlow April 25, 2019

MINNEAPOLIS — A partnership between Kroiss Development and D/O Architecture known as TMBR Development LLC will break ground on a 10-story, 79-unit condo building in the North Loop of Minneapolis this fall. Known as TMBR, the project is the Twin Cities’ first timber-framed condominium. This type of construction is more sustainable than constructing with concrete and steel. Slated for completion in early 2021, the project will include 7,500 square feet of retail space, a green roof and electric car charging stations. Units will start at $450,000.

April 25, 2019

Development Midwest Minnesota Multifamily Seniors Housing

Opus Finishes Development of its First Senior Living Community in Twin Cities

by Kristin Harlow April 24, 2019

MINNETONKA, MINN. — The Opus Group has completed its first senior living community in the Twin Cities known as Orchards of Minnetonka. The 147-unit development offers independent living, assisted living and memory care. Amenities include a salon, chapel space, clubroom, community room and two dining areas. Outdoor areas include a putting green, gardening beds and orchard. Ebenezer Management will operate the property. Sperides Reiners Architects and Consilium Home made up the project team.

April 24, 2019

Acquisitions Midwest Minnesota Multifamily

Marcus & Millichap Brokers $7M Sale of Apartment Property in Minnesota

by Kristin Harlow April 18, 2019

FERGUS FALLS, MINN. — Marcus & Millichap has brokered the $7 million sale of Red River Village in Fergus Falls in western Minnesota. Built in 2011, the apartment property includes 66 units that are designated for residents age 55 and older. Floor plans range from one to three bedrooms. Chris Collins and Evan Miller of Marcus & Millichap brokered the transaction.

April 18, 2019

Acquisitions Midwest Minnesota Retail

First Washington Realty Buys 78,313 SF Shopping Center in Eden Prairie, Minnesota

by Kristin Harlow April 15, 2019

EDEN PRAIRIE, MINN. — First Washington Realty has purchased Prairie Village shopping center in Eden Prairie for an undisclosed price. Specialty grocery store Kowalski’s anchors the 78,313-square-foot shopping center. Effective immediately, the asset will be rebranded as Eden Prairie Village shopping center. The property is 98.4 percent leased. This is First Washington Realty’s third property in the Twin Cities.

April 15, 2019

Development Midwest Minnesota Multifamily

Doran to Break Ground on 175-Unit Apartment Community in Minnetonka, Minnesota

by Kristin Harlow April 8, 2019

MINNETONKA, MINN. — Doran Cos. will break ground later this month on a new luxury apartment community in Minnetonka. The 175-unit property will be located at the intersection of Wayzata Boulevard and Fairfield Road near I-394. The project is the first Doran project led by Doran RE Partners LLC, a new independent development venture that pursues joint venture development deals relying on capital independent of Kelly Doran. At more than 20,000 square feet, the amenity space will feature a pool, spa, sauna, entertainment suite, clubroom, game area, fitness center, coworking space and outdoor grilling area. The community will include 35 income-restricted units at 50 percent of the area median income. The city of Minnetonka provided $4.8 million in tax-increment financing for the affordable units.

April 8, 2019

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