United Properties has closed on a site in Maple Grove where it is planning to build a large industrial building ‘on spec’ — meaning it’ll move ahead even without signed lease deals. The Bloomington-based developer will begin construction Sept. 15 on what it calls the Red Rock Industrial Building, with 32-foot ceiling and 320,000 square feet […]
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A joint venture between Elion Partners andKraus-Anderson Cos. closed Thursday on a purchase of a 100-acre site in Woodbury from State Farm Insurance. Florida-based Elion and Minneapolis-based Kraus-Anderson didn’t disclose the value of the land deal. The firms have spent 18 months pursuing a massive $100 million redevelopment of the site into a mixed-use office, hotel and retail […]
St. Paul’s Sibley Plaza shopping center will be torn down after nearly 60 years to make way for a Fresh Thyme Farmers Markets grocery store, a fitness center and 120 apartments, according to plans released by the property owner. Sibley Plaza owner Paster Enterprises is partnering with Bader Development on the $50 million mixed-use project at the West Seventh […]
A Cushman & Wakefield/Northmarq Transaction Duke Realty has picked Dolce Living to develop two new, six-story buildings with a total of 400 apartments at the West End mixed-use development in St. Louis Park. I reported earlier this month that Duke was pursuing partners to help it develop part of the site at the intersection of Highway 100 and […]
Anytime Fitness released images of its new corporate campus as it gets ready to break ground on the Woodbury headquarters building. The 80,000-square-foot building will house 250 employees who are now working in the fitness club chain’s current headquarters in Hastings. The new digs include a fitness club, outdoor gathering areas that will also be used […]
The Builders Association of the Twin Citiesreported “lackluster performance in both single family and multi-family construction” during August. The BATC reported that builders took out 413 home building permits in August, down 16 percent from the 494 permits in August 2013, according to a press release.
The city of St. Paul received development proposals for a city-owned plot near theXcel Energy Center from Minnetonka-basedOpus Group and Golden Valley-basedMortenson Development.
A Florida-based real estate investment company appears to be winning over Woodbury officials with the idea of building 100,000 square feet of medical office space near the 400,000-square-foot former State Farm building off Interstate 94. There would be two build-to-suit medical office buildings — 50,000 square feet each — to the north, a high-end grocery […]
A Cushman & Wakefield/NorthMarq Featured Article Land sales in the Twin Cities are finally showing some welcome signs of life with both transaction volume and sale prices on the rise. “Things are starting to percolate, although sales are certainly not at the fever pitch that they were in 2004, 2005 and 2006,” says Dan Russ, […]
Local homebuilders stayed busy in September, although the rate of growth in permits slipped a bit compared with last month’s activity. In September, residential permits were up 18 percent from a year ago and planned housing units more than doubled.