Posts filed under ‘Project Profiles’
With United Properties as the lead investor and the Davis Group as the developer, the Vadnais Heights Medical Building is a 58,000 sq. ft. medical facility to be anchored by Allina’s Aspen Clinic and The Urgency Room, an emergency level of medical care provided by Emergency Physicians Professional Association (EPPA).
Located on a 5-acre parcel at County Road 3 and Labore Road, the Vadnais Heights Medical Building will be complete in August.
One wing will be comprised of two-stories, which will include Allina’s Aspen Medical Clinic on the first floor. A single-story separate wing will house the Urgency Room. The owner team is in negotiation with other large specialty groups to lease the space in the second story.
The building meets LEED standards for stormwater management with its exterior a mix of brick, glass, stone and anodized metal panels.
The Flats at West End offer 119 rental flats, across five levels on approximately one-acre. The site is among The Shops at West End, a mixed-use development within minutes of downtown Minneapolis. The Flats at West End began construction May 2012 and opens May 1, 2013.
Developed by The Excelsior Group, The Flats is the first housing at the West End. Its perks rival some aspects of downtown living, with a grocery store, movie theater and bus line. The property amenities include a community room, second-floor patio and pool, bocce ball court, fitness club and yoga studio, and a roof-top terrace with an outdoor fireplace.
The property owner plans to own The Flats for the long-term with The Excelsior Group arranging long-term financing through a HUD-insured mortgage. The Excelsior Group is an investment real estate company that provides acquisition, development, and management services to private and institutional investors.
For more information, visit FlatsWestEnd.com
The Knoll is part of a new student apartment community with an overall redevelopment area at the University of Minnesota. Located at 11th and University in Minneapolis – on the edge of the University of Minnesota’s historic Knoll Area and the East Bank of the Mississippi River – the Knoll is scheduled to open July of 2013.
The Knoll will include five levels of student residences and underground parking. The 101 student units are a mix of studio, one bedroom, two bedroom and four bedroom options. The property will feature community rooms, roof top patio, gaming room, theater, exercise facility, outdoor courtyard and underground bike storage.
The Knoll, like all of the Doran Companies student housing properties at the University of Minnesota, offers a comprehensive security package that includes security cameras, on-site security staff, and our four-point electronic entry system.
A year after Ryan Companies, The Excelsior Group and an Invesco affiliate acquired the former “Jaguar site” at the corner of Hennepin and Washington Avenues, construction of 222 Hennepin is nearing completion, and the project is scheduled to open this summer.
The 580,000 sq. ft. mixed-use project features a Whole Foods Market – downtown Minneapolis’ first – and 286 upscale apartments. It was designed around a 300-stall parking ramp in the center of the site, an achievement that saved more than 20 million pounds of concrete and one million pounds of rebar, and that put the project on a fast track towards a LEED Silver Certification. Whole Foods customers and apartment residents will have separate and dedicated parking.
With views of the Mississippi River, downtown Minneapolis skyline and North Loop attractions, the apartment rooftop courtyard will serve as the centerpiece for the facilities’ amenities, which include an outdoor pool, fireplace, Jag club room, fitness club, yoga studio, dog walk area and Skyline Café.
The joint venture acquired the property in February 2012. The property had been blighted for four years, and for the previous nine months, the project team worked with the City and the North Loop Neighborhood to design the signature project the site deserved. 222 Hennepin is being co-developed by Ryan Companies and The Excelsior Group.
Learn more about this project straight from the source at NAIOP Minnesota’s February 19th program
In August 2012, an affiliate of Equity Group Investments (EGI), along with two joint venture partners, acquired Normandale Lake Office Park, the largest Class A office asset in the Minneapolis market. The complex includes 1.7 million square feet of space in five towers, which are connected by enclosed skyways. Located in the Southwest suburb of Bloomington, Normandale is situated on 23 acres overlooking the 2,500‐acre Normandale Lake Recreational Area.
David Helfand, EGI’s co-president, led the partnership in the transaction. EGI serves as the managing member of the joint venture, which includes affiliates of GEM Realty Capital, Inc. and Perennial Investments and Advisors, LLC.
Founded by Sam Zell more than 40 years ago, EGI has a diverse investment portfolio spanning industries and continents with interests in real estate, energy, logistics, transportation, communications and health care. The firm invested in Normandale Lake Office Park through the Zell Credit Opportunities Fund.
Cushman & Wakefield/NorthMarq provides leasing and management services for the complex. Tom Tracy, Executive Director-Brokerage Services, has been responsible for leasing at Normandale since 1997. The complex is 84% leased and currently has availabilities that include floor plates ranging from approximately 20,000 to 28,000 square feet, and contiguous spaces of up to 75,000 square feet.
Accenture Tower, the 31-story office tower in downtown Minneapolis, recently underwent 41,000 sq. ft. of renovation to its multipurpose space on the 17th and 18th floors. General contractor RJM Construction completed the interior build out in November 2012 with architect HGA and property manager CBRE.
The seven-month renovation project focused on creating collaborative and flexible workspace within the Accenture space and included newly-designed hoteling areas and team rooms, modernized conference rooms with innovative furniture and the latest technology. To create the multipurpose rooms, the project team utilized a system of vertically folding walls and moveable walls.
A 650,000 sq. ft. tower developed by CBRE Investors and Lincoln Property, Accenture Tower is connected via skyway to the 701 Building and the Campbell Mithun Tower. More at www.accenturetower.com.
Liberty Property Trust recently broke ground on a 227,000 sq. ft., multi-tenant industrial building at Liberty Industrial Park at Diamond Lake in Rogers, Minn. The speculative building will be located on 13 acres on a section of a 55-acre parcel the company bought in 2011.
Liberty plans to have the project completed by Dec. 1, 2012. The building, designed to meet LEED certification, represents an investment by Liberty of approximately $14 million.
The building will have four distinct entrances, 32′ clear height, 54′ x 40′ column spacing and 60′ deep column-free speed bays. The warehouse will have 27 dock doors, two drive-in doors and clearstory windows to allow natural light into the space.
The architect for the project is Edward Farr Architects, Inc., and the general contractor is Anderson K.M Builders.
Liberty designed the master-planned industrial park to hold three industrial buildings. Liberty sold 21 acres to Medline for the development of its warehouse building. The building that just broke ground is building two and the first of two buildings to be constructed on the remaining land.
Named for the intersection of Minneapolis’ historic Main Street and the famous “Pillsbury’s Best” flour mill, Doran Companies’ Mill/Main luxury apartments will soon add to the charm of one of the most desirable urban neighborhoods on the Mississippi river. Ground breaking took place on June 7, 2012 and completion is planned for June of 2013. Doran Construction will be the General Contractor on the project.
Phase one will consist of 196 units. The project will feature two-level townhouses on the ground floor and one-level luxury apartments above. Mill & Main amenities will include a roof top deck, pool, hot tub and entertainment space, a pet spa, a coffee bar, a fitness room and yoga studio.
Located in the heart of the University of Minnesota Twin Cities campus, Stadium Village Flats is redefining student living. With construction set to be finished in August 2012, response from students was overwhelming with over 95% of the building already leased. Opus Development Corporation selected the Washington & Ontario location for its walking distance from all academic and athletic buildings on the East Bank of campus and due to the need for upscale student housing in that area.
Stadium Village Flats has surpassed the standard amenities that are included in student living. Each unit is fully furnished with a modern touch, stainless steel appliances, granite countertops, and flat screen televisions. Residents of Stadium Village Flats will have access to unique private lounges on each of the floors including: a 20-person movie theatre, fitness room, yoga studio, tanning room, study room, gaming room and a penthouse sky lounge. Conveniently located on the first floor of the building, residents have easy access to one of the largest CVS Pharmacy locations on the University of Minnesota campus, Noodles & Company and Dino’s Gyros: The Greek Place.
Penn & American – the multi-phase, retail and residential project at the intersection of Penn Avenue and American Boulevard in Bloomington – recently signed leases with new restaurant concepts for the southwest metro: Which Wich Superior Sandwiches and Moe’s Southwest Grill. The restaurants are part of the first phase of the redevelopment, which includes two retail buildings developed by United Properties and 234 apartments and townhomes developed by StuartCo.
StuartCo is developing Genesee Apartments & Townhomes at Penn & American, which includes 212 apartments and 22 townhomes along with a rooftop deck, fitness center, outdoor pool and movie theater. Model homes have just opened and the first residents move into the 22 two- and three-bedroom townhomes in June. The studio, one- and two-bedroom apartments and penthouses will open in August and September.
The Penn & American redevelopment includes a new signaled intersection as well as surface, secured structured and public on-street parking. The site allows for future redevelopment to occur in smaller phases; the next phase includes additional retail, hotel or office space. United Properties worked for nearly five years planning the new development, which replaced two former car dealerships.