January 1 through March 31, 2005

 

 

West

• Mosaic signed a lease in January for 51,000 sq. ft. in Atria Corporate Center in Plymouth.

• General Mills is vacating 35,000 sq. ft. at 601 Tower at Carlson Center and moving into 51,000 sq. ft. in Atria Corporate Center.

• National Arbitration Forum will occupy 28,000 sq. ft. at Park Place West as of May 1, moving from Roseville Towers. They will occupy the space vacated by Travelers this past September.

Southwest

• Time Warner Cable purchased the 9705 Data Park Building in Opus Park. The 101,000 sq. ft. building previously occupied by United Health Group has been vacant for more than two years.

• ACS/e-Travel is subleasing 30,000 sq. ft. and ChroniMed will be subleasing 65,000 sq. ft. from Best Buy in Crosstown Circle Center (part of the former Best Buy campus) in Eden Prairie.

Southeast

• Brown College's Le Cordon Bleu Culinary Institute opened in Mendota Heights between Highway 13 and I-35E during the first quarter. The 70,000-sq.-ft. facility houses culinary teaching facilities ranging from a bakery and butcher shop to several instructional kitchens, classrooms and administration offices. Construction is under way for a restaurant to open within the facility in the fourth quarter.

• Manley Land Development, Inc. is building a 30,000- sq.-ft. facility at I-35E and Cliff Road in Eagan and will occupy 50%. The remaining 15,000 sq. ft. is not leased.

• Wells Fargo Home Mortgage leased 150,000 sq. ft. at Spectrum Business Center in Eagan.

Northwest

• Hartford Insurance Company's 104,000-sq.-ft. new development is complete in Wedgwood Office Park in Maple Grove.

• LandCor Development's 53,000-sq.-ft. Bell Office Tower near I-94 and 95th Avenue in Maple Grove is coming on line during the first quarter significantly pre-leased.

• The 21,000-sq.-ft. 13700 Reimer Drive building in Maple Grove was completed in January by Ryan Companies. Half of the building is leased to Coldwell Banker Burnet. Another 10,000 sq. ft. remains to be leased.

Northeast

• Medtronic is exploring developing 800,000 sq. ft. in Mounds View as part of its corporate campus expansion. The site is an existing public golf course.

• State Farm put its 460,000-sq.-ft. regional headquarters on the market. The building sits on 108 acres in Woodbury.

St. Paul CBD

• The Federal courts signed a lease for 76,000 sq. ft. at 180 East Fifth Street for three years while the courts remodel.

• MnSCU renewed 51,000 sq. ft. and expanded into 52,000 sq. ft of additional space at Wells Fargo Place. The additional space will be occupied by employees coming from Energy Technology Center.

• The Department of Human Services has committed to 270,000 sq. ft. at 444 Lafayette Road via a 10-year renewal. The department occupies the entire building. The landlord is remodeling the entire building in stages as part of the renew terms.

• Springstead Financial is moving from the Golden Rule Building to 26,000 sq. ft. at Atrium at Galtier Plaza. 

Minneapolis CBD

• Target has committed to a 250,000-sq.-ft. expansion at 33 South Sixth Street with plans to grow into the space during the first half of the year. 

• Allina Health Systems is committing to 250,000 sq. ft. at Midtown Exchange, which includes an additional 88,000 sq. ft. that was not part of the original commitment.

• Retek sublet its remaining extra space in the Retek-on-the-Mall building. ProStaff took 30,000 sq. ft., and Target took the remaining 43,000 sq. ft. 

Medical Office

• Southdale Pediatric Associates, Ltd., a major Twin Cities pediatric group, will anchor the new Ridges Pondview Medical Building at 401 Nicollet Boulevard on the Fairview Ridges hospital campus in Burnsville. The 30,000-sq.-ft. building is being developed by BTO Development Corporation. Expected occupancy is March 2006.

• Columbia Park Medical Group will occupy 24,460 sq. ft. as an anchor for a new 52,000-sq.-ft. medical office building. The facility will be located directly across from the Target retail center near the intersection of 109th Avenue and Club West Parkway in Blaine. Occupancy will be Spring 2006. 

• University of Minnesota Physicians will relocate its executive offices and become the primary tenant of 720 Washington Avenue, occupying approximately 40,000 sq. ft. on the upper two floors. The building is strategically located near the University of Minnesota campus and adjacent to the hospital as well as the Phillips Wangensteen building.

 

Northwest

• Crane Engineering leased 19,336 sq. ft. in the Polaris Business Centre on Polaris Lane in Plymouth.

• Room and Board signed a lease for 200,000 sq. ft. in Diamond Lake II on Diamond Lake Road in Rogers.

• Chrysler Automotive Group leased a 50,000-sq.-ft. space at 820 Berkshire in Plymouth. 

• Steller Technologies signed a 42,000-sq.-ft. lease at the Crosstown North Business Center in Brooklyn Park.

Northeast

• Interline Brands signed a 75-month lease for 43,937 sq. ft. at Energy Park Distribution Center located at 1930 Energy Park Drive in St. Paul.

• Kemps signed a lease for 40,000 sq. ft. at Energy Park Corporate Center for a new corporate headquarters. 

• Deluxe signed a lease for 50,000 sq. ft. in the 4440 Round Lake Road building in Arden Hills.

• Dynamex leased 34,386 sq. ft. (16,000 sq. ft of office space) at 2100 Old Highway 8 in New Brighton.

Southwest

• Walburg Storage Mart bought a 126,000-sq.-ft. building at 11003 Excelsior Boulevard in Hopkins from Venturian Holdings, LLC.

• CSM purchased the former Challenge Printing building at 7500 Golden Triangle Drive in Eden Prairie. LifeTouch signed a seven-year lease for the entire building. 

 

Southeast

• Uponor renewed its lease for three years and took additional space in the 268,000-sq.-ft. I-35 Distribution Center at 2300 West Hwy 13 in Burnsville.

• Capitol Sales moved from 40,000 square feet in Corporate Square to the 57,600-sq.-ft. Trapp Road Commerce Building at 1245 Trapp Road in Eagan.

• Two trucking companies took land positions in Inver Grove Heights near Highway 52. Swift Transportation purchased 27 acres and Kane Transport purchased eight acres at Hwy 52 & 117th Street.

• Lowe's leased 150,000 sq. ft. at Shoppes of Plymouth Creek, which is located in the southwest quadrant of Hwy 55 and Vicksburg Lane in Plymouth.

• HJ Development purchased the 333,515-sq.-ft. Riverdale Crossing Shopping Center at US Hwy 10 & Round Lake Boulevard in Coon Rapids. United Properties retained the leasing contract for the center. Since the sale, transactions have been successfully completed with Tile Shop for 24,000 sq. ft., Northwestern Bookstores for 8,000 sq. ft., Discount Tire for 8,000 sq. ft., Turnstyle for 5,000 sq. ft., and Eddington's for 3,000 sq. ft.

• Lund's is doing two downtown Minneapolis stores and Whole Foods is working on a mixed-use development at the Luther Automotive site on Hennepin Avenue and Washington Avenue.

• Home Depot is taking the Sam's Club space on South Robert Street and Mendota Road in Inver Grove Heights. Sam's Club moved to Eagan.

• Ultimate Electronics is filing for bankruptcy and has announced plans to close 30 stores nationwide. It doesn't appear that any metro stores will be affected.

• Triggs opened at the site of the former Nora's Restaurant by Lake Calhoun. This is the full-service dining concept's first location in the metro area.

• Pier One will be opening a new 10,000-sq.-ft. store at Excelsior and Grand this summer.

• Herberger's will relocate from the St. Croix Mall and open a 95,000-sq.-ft. freestanding store this fall at the site of the former Andersen Windows warehouse on Highway 36 in Stillwater.

 

Office

• M&I sold the 182,682-sq.-ft. Woodlake Center at 6601 Lyndale Avenue in Richfield to VEF Advisors. United Properties represented M&I Bank on the sale, which included three connected buildings and a large parking deck. Major tenants include M&I Bank, Metro Dentalcare, Houlihan's and Allina Medical Clinic.

• Upper Midwest Mgmt Corporation bought the 81,243-sq.-ft. Eagan Woods Office Center at 2600 Eagan Woods Drive in Eagan from MSP Investors. United Properties represented MSP Investors on this Class B, multi-tenant office building located near the intersection of I-494 and 35E. Occupancy was 95%.

• Equity Office Properties sold Northland Plaza at I-494 and France Avenue in Edina to MetLife Real Estate in January. Occupancy is at 92%.

• In December, RREEF (on behalf of a Lucent pension fund) sold the IDS Tower to The John Buck Company. The building is at 88% occupancy and includes 166,000 sq. ft. of retail space. 

• The 150,000-sq.-ft. Rand Tower sold to Gaughn Companies.

• In March, M.G. Kaminski closed on the purchase of Pentagon Park in Edina, The Parkdales in St. Louis Park and 501 Marquette in Minneapolis. This 1.5 million square foot office portfolio represents one of the largest office portfolio acquisitions in many years.

Industrial

• The Geneva Organization purchased the Archway Marketing Services building from First Industrial in January. Archway occupies 100% of the property on a 12-year lease.

Retail

• HJ Development purchased the 333,515-sq.-ft. Riverdale Crossing Shopping Center at US Hwy 10 & Round Lake Boulevard in Coon Rapids. Major tenants in the center include Cub Foods and Wal-Mart. United Properties represented an institutional investor on the sale.

• Regency REIT acquired Rockford Road Plaza in Plymouth and Colonial Square in Wayzata as part of a $2 billion nationwide portfolio acquisition from First Washington REIT.