South Dakota Archives - REBusinessOnline

Kraus-Anderson Completes $7.4M Yorkshire Medical Office Building in Brookings, South Dakota

Kristin Harlow — Tue, 14 Oct 2025 13:21:42 +0000

BROOKINGS, S.D. — Kraus-Anderson has completed the $7.4 million Yorkshire Medical Office Building for Brookings Health System at 2311 Yorkshire Drive in Brookings, a city in eastern South Dakota. Designed by TSP Inc., the 12,000-square-foot project marks the first phase of the new medical office building and will serve as the future home of the Brookings Health System Eye Clinic and Physical Therapy. The eye clinic features six exam rooms, a retail optical space and a dedicated procedure room. The physical therapy clinic, in collaboration with Avera Physical Therapy, includes a 2,100-square-foot rehabilitation gym, 10 treatment rooms and a HydroWorx therapy pool equipped with an underwater camera for advanced therapy sessions. The project is located 8 feet from the existing building that currently houses the eye clinic. Once the new facility is operational with patients, the old building will be demolished, allowing for the completion of a new parking area. An upcoming phase to be completed in the coming years will be a mirrored extension of the current structure.

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Capri Pools & Aquatics Completes $31.3M Expansion to University of South Dakota Wellness Center

Kristin Harlow — Mon, 06 Oct 2025 13:56:59 +0000

VERMILLION, S.D. — Capri Pools & Aquatics has completed a new 45,800-square-foot expansion to the University of South Dakota Wellness Center. The firm completed the $31.3 million project in partnership with Journey Construction, RGD Planning & Design and Councilman Hunsaker. The natatorium houses an Olympic-sized competition pool, activity pool, Ninja Cross aquatic obstacle course, multipurpose room, hot tub, steam room, athletic locker rooms, expanded wellness locker rooms, a meet management room, coaches’ offices and a lifeguard room. The 12,930-square-foot Olympic-sized competition pool features 50-meter lanes and two movable bulkheads to divide the pool into three separate zones for simultaneous activities. It also includes seating for 400 people.

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Kraus-Anderson Begins $13M Expansion at Huron Regional Medical Center in South Dakota

Kristin Harlow — Wed, 16 Jul 2025 13:04:00 +0000

HURON, S.D. — Kraus-Anderson has begun a $13 million expansion at Huron Regional Medical Center in South Dakota. Designed by Wold HFR Design, the 7,500-square-foot addition will feature four new operating rooms, staff lockers and a lounge. The project also includes an 11,581-square-foot renovation of the existing OR suite, endoscopy rooms and pre- and post-operating rooms; and a new 19,081-square-foot sterile processing area and support spaces. Completion is slated for November 2026.

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Kraus-Anderson Completes $7.6M Renovation Project for Prairie Lakes Healthcare in South Dakota

Kristin Harlow — Fri, 21 Jun 2024 13:24:13 +0000

WATERTOWN, S.D. — Kraus-Anderson has completed a $7.6 million critical care unit (CCU) and kidney dialysis unit renovations for Prairie Lakes Healthcare at 401 9th Ave. NW in Watertown, a city in eastern South Dakota. Designed by BWBR Architects, the 15,000-square-foot project was constructed in two phases. The first phase included the second-floor CCU, featuring eight new patient rooms and a dedicated air handler. The second phase featured the new kidney dialysis unit with 10 new infusion bays, including two isolation rooms.

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ISG Opens Third South Dakota Office in Dakota Dunes

Kristin Harlow — Mon, 03 Jun 2024 13:23:13 +0000

DAKOTA DUNES, S.D. — Architecture, engineering, environmental and planning firm ISG has opened a new office in Dakota Dunes within southeast South Dakota. Months after establishing a presence in Pierre, ISG says the expansion enhances its ability to serve communities across the state and the broader Siouxland region encompassing Iowa and Nebraska. ISG is currently engaged in several projects and partnerships in Dakota Dunes while the local team enhances the firm’s expertise in refrigeration and industrial food. A ribbon cutting and open house for the new office will take place Thursday, Aug. 22. ISG maintains offices in Iowa, Minnesota, Wisconsin, South Dakota and Arkansas.

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GSI Opens 133-Unit Active Adult Community in Sioux Falls, South Dakota

Kristin Harlow — Fri, 24 May 2024 13:14:44 +0000

SIOUX FALLS, S.D. — GSI has opened The Parkwood, a 133-unit active adult community in Sioux Falls near both the Iowa and Minnesota borders. GSI began preleasing units at The Parkwood in 2023. GSI and its stakeholder team serve as The Parkwood’s developer, property manager and co-owners in partnership with financial partners. GSI is an affiliate of Transforming Age, a national nonprofit organization serving older adults. Omaha-based Ronco Construction was the general contractor.

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U-Haul Breaks Ground on 1,400-Unit Self-Storage Facility in Sioux Falls, South Dakota

Kristin Harlow — Mon, 22 Apr 2024 13:21:50 +0000

SIOUX FALLS, S.D. — U-Haul has broken ground on a 1,400-unit self-storage facility located at 3500 Powder House Road in Sioux Falls. Named U-Haul Moving & Storage of Veterans Parkway, the development is slated for completion in early 2025. The eight-acre property will include two three-story buildings with 700 units each. Customers will have 24-hour access, and units will include high-end security features. Plans call for a separate warehouse to hold 1,250 mobile storage containers. Customers will also have access to moving trucks, trailers, boxes and packing supplies, professional hitch installation and towing equipment.

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Sanford Health Plans 330-Unit Continuing Care Retirement Community in Sioux Falls, South Dakota

Kristin Harlow — Mon, 19 Feb 2024 14:10:50 +0000

SIOUX FALLS, S.D. — Sanford Health has unveiled plans to build Good Samaritan Society — Founder’s Crossing, a continuing care retirement community (CCRC) in Sioux Falls. The developer plans to break ground this spring. The first phase of the CCRC will include 146 independent living villas, 120 independent living apartments, 32 assisted living apartments and 32 memory care apartments, all slated for completion in 2026. A second phase over the following two years will add a short-term rehabilitation and long-term care center, additional villas, a Sanford Health clinic and a Lewis Drug location. The health clinic and pharmacy will be open to the public. Phase II is scheduled for completion by 2028.

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Upland Negotiates Sale of Two Arby’s-Occupied Properties in South Dakota

Kristin Harlow — Fri, 15 Dec 2023 14:33:00 +0000

SIOUX FALLS AND BROOKINGS, S.D. — Upland Real Estate Group has arranged the sale of two properties net leased to Arby’s in South Dakota for an undisclosed price. The buildings are located in Sioux Falls and Brookings. Arby’s has 20-year leases with 5 percent rent increases every five years on both properties. The tenant on the leases, DRM Inc., is one of the largest Arby’s franchisees and operates 109 Arby’s locations in seven Midwest states. Deborah Vannelli, Keith Sturm and Amanda Leathers of Upland represented the undisclosed seller. Both properties sold to cash buyers completing 1031 exchanges.

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Kraus-Anderson Completes Construction of $2.4M Dialysis Center in Huron, South Dakota

Kristin Harlow — Wed, 19 Jul 2023 13:30:23 +0000

HURON, S.D. — Kraus-Anderson has completed construction of a new $2.4 million dialysis center at Huron Regional Medical Center in Huron, a city in eastern South Dakota. Designed by Wold Architects, the 4,165-square-foot project features a 12-bay dialysis unit, including two isolation treatment rooms. The project replaces an outdated dialysis suite. Kraus-Anderson’s scope of work also included a new water system and utilities, a generator and updates to the exterior façade. The center is located at 172 4th St. SE.

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Marcus & Millichap Arranges $2.1M Sale of Starbucks-Occupied Property in South Dakota

Kristin Harlow — Mon, 01 May 2023 14:17:25 +0000

VERMILLION, S.D. — Marcus & Millichap has arranged the $2.1 million sale of a 2,365-square-foot retail property occupied by Starbucks in Vermillion, home of the University of South Dakota. The net-leased building has a new 10-year lease with Starbucks that features 7.5 percent rental increases every five years. Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, a limited liability company. Buyer information was not provided.

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McCarthy to Build $215M Expansion of Sioux Falls Regional Water Reclamation Plant

Kristin Harlow — Thu, 02 Mar 2023 17:53:06 +0000

SIOUX FALLS, S.D. — McCarthy Building Cos. Inc. will construct the $215 million expansion of the Sioux Falls Regional Water Reclamation Plant. The first major expansion since the plant was built in the 1980s, the project is expected to increase the facility’s capacity by 50 percent — from 21 million to 30 million gallons per day — and enhance operational efficiencies to meet growing demand throughout the community and region. Completion is slated for 2025. Plans call for the construction of a new three-story “headworks” building, where wastewater initially enters the treatment process; the installation of new generators and an extensive electrical system upgrade; installation of three additional aeration basins, where wastewater is treated by microbes; four “final clarifiers,” which are large circular pools where solids are separated from treated water; and the expansion of an area of the plant where water is treated with chlorine, including the addition of more storage tanks. The project received funding through loans from the State Revolving Fund, a program that provides low-interest loans to water, wastewater and sewer projects. In addition to McCarthy, project partners include Carollo Engineers Inc. and locally based Henry Carlson Construction. Sioux Falls and the surrounding area are experiencing…

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McCarthy to Build $215M Expansion of Sioux Falls Regional Water Reclamation Plant

Kristin Harlow — Thu, 02 Mar 2023 14:48:34 +0000

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Cushman & Wakefield Negotiates $7.6M Sale of Medical Office Building in South Dakota

Kristin Harlow — Tue, 15 Nov 2022 15:34:25 +0000

DAKOTA DUNES, S.D. — Cushman & Wakefield has negotiated the $7.6 million sale of Tower Medical Plaza in eastern Nebraska’s Dakota Dunes. The property totals 35,130 square feet and is fully leased by seven tenants, including Beth Bruening PC, Dunes Family Pharmacy, ENT Consultants, Fyzical, Kevin L. Preston DO, Dunes Pain Specialists and MercyOne. The building is attached to the Dunes Surgical Hospital. Gino Lollio and Travis Ives of Cushman & Wakefield’s healthcare capital markets team partnered with James Hain and Richard Secor of Cushman & Wakefield/The Lund Co. on the transaction. Florida-based Catalyst Healthcare Real Estate purchased the asset from SSC MOB1.

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Northmarq Originates $199.1M Recapitalization for Midwest Affordable Housing Portfolio

Kristin Harlow — Tue, 28 Jun 2022 13:28:17 +0000

IOWA, NEBRASKA AND SOUTH DAKOTA — Northmarq has originated $199.1 million in Fannie Mae loans for the recapitalization of a 14-property multifamily portfolio located in Iowa, Nebraska and South Dakota. Brett Hood of Northmarq arranged the 14 separate loans on behalf of the borrower, Minnesota-based Monitor Finance. The portfolio includes 2,784 units, 98 percent of which are affordable for residents who earn up to 60 percent of the area median income. The loan amounts ranged from $5.6 million to more than $36.8 million. All of the loans were at a 70 percent loan-to-value ratio. All of the properties had existing fixed-rate agency debt with approximately six to eight years of loan term remaining. Twelve of the properties are located in greater Des Moines, two in Davenport, two in Omaha and one in Sioux Falls, S.D. The largest loan was for Camelot Village, a 485-unit community in Omaha.

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Kraus-Anderson Completes $9M Expansion of Huron Regional Medical Center in South Dakota

Kristin Harlow — Mon, 06 Jun 2022 13:16:07 +0000

HURON, S.D. — Kraus-Anderson has completed a $9 million renovation and expansion of Huron Regional Medical Center in Huron, a city in eastern South Dakota. The 23,500-square-foot expansion doubled the size of the clinic, providing enough space to serve more patients and house up to 20 physicians. A renovation of the emergency and imaging department added new infusion bays, treatment rooms and advanced hospital imaging, including MRI and 3D Mammography scanners. The property now rises two stories. Wold Architects was the project architect.

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Kraus-Anderson Begins $36M Expansion of Mobridge Regional Hospital in South Dakota

Kristin Harlow — Thu, 26 May 2022 13:02:24 +0000

MOBRIDGE, S.D. — The North Dakota office of Kraus-Anderson has begun a $36 million expansion and renovation of Mobridge Regional Hospital and Clinics in Mobridge, a city in South Dakota situated along the Missouri River. The campus includes a 25-bed critical access hospital, four federally certified rural health clinics, a 24-bed assisted living and seniors housing center and a rural ambulance service. The expansion project will include a new patient wing, surgery suite and ambulance garage, as well as 63,000 square feet of upgrades to the hospital’s emergency room department, surgery suite, imaging, dining area and support offices. Davis Partnership Architects is the project architect. Completion is slated for spring 2025.

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Kingsbarn Acquires Fleet Farm-Occupied Retail Property in Sioux Falls, South Dakota

Kristin Harlow — Wed, 27 Apr 2022 14:06:08 +0000

SIOUX FALLS, S.D. — Kingsbarn Realty Capital has acquired a 192,000-square-foot retail property occupied by Fleet Farm in Sioux Falls for an undisclosed price. Constructed in 2019, the property features a gas station, car wash, auto service center and garden center in addition to the main retail store. Fleet Farm has more than 17 years remaining on its lease. Las Vegas-based Kingsbarn intends to offer interests in the property in a Delaware Statutory Trust structure. Fleet Farm, which sells farm, pet, home improvement and automotive products, operates 47 locations across the Upper Midwest.

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Marcus & Millichap Arranges Sale of 333,346 SF Industrial Building in South Dakota

Kristin Harlow — Thu, 26 Aug 2021 13:32:26 +0000

ABERDEEN, S.D. — Marcus & Millichap has arranged the sale of a 333,346-square-foot single-tenant manufacturing facility in Aberdeen for an undisclosed price. Built in 2007, the property sits on 54 acres at 1401 Brown County 19 North. The tenant, Molded Fiber Glass Cos., announced it would not be renewing its lease during escrow. Adam Abushagur and Tyler Sharp of Marcus & Millichap represented the seller, a private REIT. The duo also procured the buyer, an out-of-state private investment group.

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Tzadik Properties Receives $115M in Loans for Refinancing of South Dakota Multifamily Portfolios

Kristin Harlow — Thu, 18 Feb 2021 14:24:59 +0000

SIOUX FALLS AND RAPID CITY, S.D. — Tzadik Properties LLC has received more than $115 million in loans for the refinancing of portions of its multifamily portfolios in Sioux Falls and Rapid City. Tzadik’s Lucas Grassano handled the processing and Michael Davalos oversaw the lender sourcing. The refinancings are part of the company’s business plan to move from short-term loans to long-term, lower-cost debt. Greystone provided financing for a 707-unit portfolio and a 439-unit portfolio in Sioux Falls. Under the new terms, Tzadik replaced bridge loans that charged a 6 percent interest rate with long-term loans at a 3.17 percent interest rate. Additionally, Tzadik assigned $4.5 million of the proceeds for capital improvements. Merchants Bank provided financing for two more portfolios in Sioux Falls, including 459 units across four properties, as well as a 261-unit portfolio in Rapid City. Under these terms, Tzadik replaced bridge loans that carried a 6 percent interest rate with long-term loans at a 3.5 percent interest rate. Tzadik entered the South Dakota market in 2018 with 721 units and now owns and operates 2,206 units across the market.

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