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 store and pedestrian-friendly retail to the south and possibly a hotel to the northwest of the former State Farm office building, according to a preliminary master concept plan released Thursday by Aventura, Fla.-based Elion Partners. Read more
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, a vice president in the Investment Services Group at Transwestern in Minneapolis. “But, it is starting to move in the right direction compared to the past few years, which has been stagnant.” Read more
15306-15500 Highway 7, Minnetonka
After months of delays and design changes, Minneapolis developer Mark Davis has closed on land deals totaling $4.6 million, clearing the way for construction to start next week on the 63,000-square-foot Minnetonka Medical Building. Read more
WASHINGTON — U.S. home prices rose 12.4 percent in July compared with a year ago, the most since February 2006. An increase in sales on a limited supply of available homes drove the gains. Read more
Recent developments suggest that the area around Snelling and Selby avenues in St. Paul could get a high-end grocery store and 206-unit apartment complex sooner rather than later. Read more
The Interchange project’s name has gone the way of Hiawatha Light Rail Transit and the Central Corridor LRT.
The Minnesota Twins, United Properties and Target Corp. reached a $3.75 million deal with Hennepin County — approved Thursday afternoon — to take over certain operations and other costs of the $85 million transit hub near Target Field. Read more
A Cushman & Wakefield/NorthMarq Brokered Transaction
A Florida developer has closed on a $4.85 million land deal to build 158 market-rate apartments in the West End mixed-use development in St. Louis Park.
Millennium at West End LLC, an entity related to Dolce Living Homes LLC of Hallendale, Fla., closed Wednesday on the cash deal for two parcels totaling 3.55 acres, according to a certificate of real estate value made public Thursday. Read more
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