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Commercial Real Estate News
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05/25/2018
New Food Hall Gets OK, Apartment Proposals Held
Graze Food Hall is a go. The Minneapolis Planning Commission gave its blessing to the two-story "food and drink collective" at its Monday meeting. Columbus, OH-based Derived Development Group first pitched Graze for a spot in Minneapolis’ North Loop...

05/23/2018
Excelsior Group Sells Questar HQ in Apple Valley
Fargo, ND-based Dakota REIT has paid $9.15 million for two buildings in Apple Valley, MN from Excelsior Group, according to brokers from the Minneapolis office of CBRE, which represented the seller in the sale. The St. Louis Park, MN-based real estate...

05/23/2018
STAG Snags South Suburban Structures for $27.5M
Boston-based STAG Industrial Inc. has picked up two fully-occupied industrial buildings in Dakota County, paying $27.5 million for the properties. The REIT’s purchase closed May 15 and includes a 422,727-square-foot warehouse in South St. Paul, MN...

05/22/2018
United Properties has Purchase Agreement for Prospect Park Bldg
The Textile Center has struck a deal with United Properties for the former Tierney Brothers headquarters, a 1950’s era building on a key corner in Minneapolis’ up-and-coming Prospect Park neighborhood. Minneapolis-based developer United Properties...

05/22/2018
Competition is Strong for Urban Infill Sites
Pictured: a St. Paul, MN meat packing plant that was built in 1935 is slated to be converted into a 64-unit apartment complex. The growth of e-commerce, which is fueling the need for industrial facilities close to the Minneapolis metro’s core, is in...

05/17/2018
Travelliance Sells Minnetonka HQ, Downsizing in Move to Leased Space at Northland Center
Travelliance has signed a lease for space at Northland Center in Bloomington, and is moving out of its Minnetonka, MN headquarters building, which has been sold and will soon be remade into a graduate school specializing in psychology. In late March...

05/14/2018
Red River Kitchen to Make Edina Debut
Red River Kitchen beat out three other contenders for restaurant space at the Braemar Golf Course in Edina, MN. The food truck will soon open a bricks-and-mortar location at the course, which sits just northeast of the junction between Highway 169 and...

05/11/2018
Lakeville Nabs 117-Key Hampton Inn Development
Lakeville will join the growing list of cities hosting a JR Hospitality hotel. The Eagan, MN-based company is about to begin work on a new Hampton Inn on the city’s southwest edge just off Exit 81 on Interstate 35. Plans call for a four-story, 117...

05/08/2018
Ohio PE Firm Buys Lakeville Shopping Center
Cincinnati-based private equity firm Viking Partners has purchased an ailing but well-placed retail center in Lakeville, MN that is a stone’s throw from one of the city's key exits off Interstate 35. The 59,269-square-foot Timbercrest at Lakeville...

05/08/2018
Solid Asking Rent Growth Outside of the Minneapolis CBD
The Minneapolis/St. Paul metro is experiencing strong asking rent growth in office space outside of Minneapolis’ Central Business District (CBD). Here, we review three top-performing submarkets that contribute to this trend. Restrained Construction...

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