Minneapolis-St Paul
Luxury Residential Development Announced in St. Louis Park
By Gabriel Circiog, Associate Editor A new luxury residential development has been announced in the inner-ring Minneapolis suburb of St. Louis Park. A joint venture that includes Madison, Wis.-based E.J. Plesko & Associates Inc., Fiduciary Real Estate Development Inc. and Northwestern Mutual, both of Milwaukee, will develop the 36 Park Apartments. Located at 3601 Park […]
Normandale Lake Office Park Sells for $268M
By Gabriel Circiog, Associate Editor The Normandale Lake Office Park, a five-building complex located in Bloomington, was acquired by an affiliate of Chicago-based Equity Group Investments. Situated on 23 acres of land at the southwest corner of I-494 and Highway 100 in the Southwest suburb of Bloomington, the 1.7 million-square-foot Class A office complex features […]
Opus Seals Financing Deal for Nicollet Residences
By Gabriel Circiog, Associate Editor Opus Development has secured financing for a 27-story residential development in Minneapolis, the Minneapolis / St. Paul Business Journal reports. Dave Menke, senior vice president & general manager of Opus Development, confirmed the company has sealed a financing deal with an unnamed large regional bank. He said demolition work is […]
Kraus-Anderson Plans to Build 204-Unit Market-Rate Apartment Complex
By Gabriel Circiog, Associate Editor Kraus-Anderson Construction Co. announced plans to build a new $39 million apartment complex in downtown Minneapolis’ historic Warehouse District. Located at 800 N. Third St., the new 266,000-square-foot apartment complex was designed by locally based UrbanWorks Architecture L.L.C. Third North, a six-story complex, will feature 204 apartment units ranging in […]
Ebenezer Management Services to Expand its Arbors at Ridges Campus
By Gabriel Circiog, Associate Editor Ebenezer Management Services will soon expand its Arbors at Ridges campus in Burnsville, Finance & Commerce reported. The Minneapolis-based seniors housing provider will break ground on a $12 million project that will convert an existing building to memory care space. Located at 13897 Community Drive near Fairview Ridges Hospital, the […]
IDS Center Hits the Market; Landmark Could Fetch $300M
By Gabriel Circiog, Associate Editor Inland American Real Estate Trust Inc. is marketing the 2 million-square-foot IDS Center in Downtown Minneapolis, a signature feature of the city skyline for four decades. Designed by Philip Johnson, the post-modern landmark encompasses a 57-story office tower with an eight-story annex, a two-story retail center, a 19-story Hilton hotel and […]
Pioneer-Endicott Buildings to be Converted into 234 Market-Rate Apartments
By Gabriel Circiog, Associate Editor The Pioneer-Endicott buildings in downtown St. Paul have been vacant for some time, but things could soon change. Local developer Rich Pakonen envisions a 234-unit market-rate apartment conversion project that would also include 31,900 square feet of commercial space, Finance & Commerce reports. The two buildings are among the oldest […]
Opus to Build New Office Building for Xcel Energy at Nicollet Mall
By Gabriel Circiog, Associate Editor The Opus Development Corporation has announced plans to build a 212,000-square-foot office building in downtown Minneapolis. The nine-story building will be built for Xcel Energy on the southeast corner of Fourth Street and the Nicollet Mall. The site is currently a private parking ramp which was built in the 1960s. […]
Zeller Realty Secures Refinancing for LaSalle Plaza
By Gabriel Circiog, Associate Editor Chicago-based Zeller Realty has secured refinancing for LaSalle Plaza from a unit of Minneapolis-based U.S. Bancorp, U.S. Bank Commercial Real Estate. While terms of the deal were not disclosed, the Minneapolis / St. Paul Business Journal reports the loan is estimated to be worth around $92 million. Located at 800 […]
Gov. Mark Dayton Signs Off on Agreement to Build New Vikings Stadium at Metrodome
By Gabriel Circiog, Associate Editor Gov. Mark Dayton signed off on an agreement to construct a new $975 million stadium for the Minnesota Vikings at the Metrodome during a Capitol ceremony attended by business leaders, fans and team owners Zygi and Mark Wilf, Finance & Commerce reported. As previously reported by Commercial Property Executive, the governor, […]