Gabriel Circiog
$97 Million Target Center Renovation Announced
The city-owned Target Center is set to undergo a $97 million renovation which is scheduled to begin in 2014. An announcement of the agreement to renovate the 23-year-old Target Center was recently made by Minneapolis Mayor R.T. Rybak, City Council President Barbara Johnson, Minnesota Timberwolves and Lynx owner Glen Taylor and Target Center General Manager Steve Mattson of operator AEG.
Eden Prairie Center Acquired by Cypress Equities
Dallas-based Cypress Equities recently announced the acquisition of the 1.1-million-square-foot Eden Prairie Center. The transaction was acquired by a fund managed by Cypress’ real estate investment management group which has acquired over $300 million of retail properties in 2013.
Monmouth Buys Dr Pepper Snapple Distribution Facility
Monmouth Real Estate Investment Corporation recently announced that it has acquired a 46,260-square-foot industrial building in Tulsa, Oklahoma for a purchase price of $3.7 million.
Monsanto Breaks Ground on $400M Chesterfield Village Research Center Expansion
Monsanto Company recently held an event to mark the beginning of the Chesterfield Village Research Center expansion. The company’s global hub for research and development and agricultural innovation is currently undergoing a $400 million expansion which was first announced in April 2013. The expansion project will create 675 new jobs in St. Louis over the next three years.
Ivanhoé Cambridge Buys 105 Additional Residential Units in London
Ivanhoé Cambridge has added Imperial House and Kew Bridge Court, totaling 105 residential units, to its London portfolio totaling $70M.
Reed Construction to Renovate Aon Corp. Headquarters at The Aon Center; Urban Innovations Announces Signing of Five New Leases
Reed Construction, a full-service general contractor, recently announced it has been chosen to complete a 375,000-square-foot renovation for Aon Corporation at The Aon Center in Chicago.
State-of-the-Art Candelas Swim and Fitness Club Awarded LEED Gold Certification
Candelas, one of the Denver metro area’s fastest growing new home communities, has recently announced that its first recreation center has been awarded LEED Gold Certification by the United States Green Building Council.
Simon, SmartCentres, Calloway Break Ground on 2nd Premium Outlets Center in Canada
Simon Property Group Inc., SmartCentres and Calloway REIT broke ground on 366 KSF Premium Outlets Montreal, the second Premium Outlet Center in Canada.
Savvis to Open New Data Center in Minneapolis
Savvis, a CenturyLink company, specializing in cloud infrastructure and hosted IT solutions for businesses, recently announced plans to expand its North American footprint by opening a new data center in the Minneapolis-St. Paul area in the spring of 2014. The new Savvis MP2 data center, built to support 4.8 megawatts of IT load on 100,000 square feet of raised floor space, will open with an initial 1.2 megawatts and 13,000 square feet of raised floor space.
Berkadia Arranges $46.4 Million for Two MF Properties
The Chicago office of Berkadia Commercial Mortgage LLC has recently announced it has closed a total of $46.4 million through the U.S. Department of Housing and Urban Development’s 223(f) program for two apartment communities.