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Real Estate Recycling Plans Green Office Project in Downtown Minneapolis

Real Estate Recycling Plans Green Office Project in Downtown Minneapolis

By Gabriel Circiog, Associate Editor Minneapolis developer Paul Hyde, a principal with Real Estate Recycling, plans to construct a two-story office building at 1016 Marquette Ave., the Minneapolis / St. Paul Business Journal reports. Real Estate Recycling acquired the existing 1931 single-story building from local developer Larry Abdo on April…

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Twin Cities Developer Peter Remes Plans Renovation of Recently Acquired 5.5-Acre Complex

Twin Cities Developer Peter Remes Plans Renovation of Recently Acquired 5.5-Acre Complex

By Gabriel Circiog, Associate Editor Twin Cities developer Peter Remes and his First & First L.L.C. purchased nine buildings in St. Paul’s Midway area and plans to invest millions of dollars in renovation, Finance & Commerce reports. The 5.5-acre, 205,000-square-foot complex, located from 550 to 558 Vandalia St., used to…

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Paragon Plans 400,000-Square-Foot Outlet Shopping Center in Cedar Grove

Paragon Plans 400,000-Square-Foot Outlet Shopping Center in Cedar Grove

By Gabriel Circiog, Associate Editor Paragon Outlet Partners L.L.C. has presented to the Eagan Economic Development Authority a preliminary concept plan for a new upscale outlet shopping center in Cedar Grove. The Baltimore-based developer proposes a project that would feature between 90 and 100 high-end outlet stores on approximately 35…

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Vikings Stadium Plan Receives Majority Support from City Council

Vikings Stadium Plan Receives Majority Support from City Council

By Gabriel Circiog, Associate Editor The latest Minnesota Vikings stadium plan is now backed by a majority of the Minneapolis city council, the Minneapolis / St. Paul Business Journal reports. The development was announced by Gov. Mark Dayton; Minneapolis Mayor R.T. Rybak, City Council President Barb Johnson and six other…

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Shakopee City Council Approves Economic Development Incentives

Shakopee City Council Approves Economic Development Incentives

By Gabriel Circiog, Associate Editor Shakopee City is set to welcome two new companies that will bring hundreds of jobs to town after the city council approved economic development incentives for SanMar Corp. and Trystar Inc., the Minneapolis / St. Paul Business Journal reports. SanMar Corp., an imprintable-clothing supplier, will…

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Target’s New Lease Could Lead to Sale of 50 S. 10th Street

Target’s New Lease Could Lead to Sale of 50 S. 10th Street

By Gabriel Circiog, Associate Editor Target Corp. could get the ball rolling in the downtown Minneapolis real estate market. After it recently reached a major lease agreement for 50 S. 10th St., local experts are expecting a chain reaction, Finance & Commerce reports. Target will lease all the rentable office…

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Inland Real Estate Expands Portfolio

Inland Real Estate Expands Portfolio

By Gabriel Circiog, Associate Editor Inland Real Estate Corp. announced the acquisition of two retail properties in the Minneapolis market. IRC, through a joint venture with PGGM, bought Silver Lake Village, a grocery-anchored community center situated in the dense urban inner-tier suburb of St. Anthony. The center has a total…

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CPM Development Plans Student Housing, Retail for Arby’s Site

CPM Development Plans Student Housing, Retail for Arby’s Site

By Gabriel Circiog, Associate Editor With around 49,000 students attending the University of Minnesota and residence halls able to accommodate only about 6,000 of them, it seems likely that a new student housing project could prove successful. Accordingly, Finance & Commerce reports that Minneapolis-based CPM Development is planning student housing and…

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Ryan Cos. Breaks Ground on Luxury Mixed-Use Project

Ryan Cos. Breaks Ground on Luxury Mixed-Use Project

By Gabriel Circiog, Associate Editor Ryan Cos. US Inc. broke ground on the 222 Hennepin mixed-use project, in partnership with The Excelsior Group and an institutional client of Invesco Real Estate. The development will feature 286 luxury apartments (232,112 square feet); a 491-space, four-level parking garage; and the first Whole…

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W.P. Carey Closes on BCBS Portfolio Sale-Leaseback

W.P. Carey Closes on BCBS Portfolio Sale-Leaseback

By Gabriel Circiog, Associate Editor Blue Cross and Blue Shield of Minnesota has sold its six-building headquarters campus in Eagan to investment firm W.P. Carey & Co. The New York-based investment management company announced closing on sale-leaseback financing with the entity through CPA:17 – Global, a publicly held non-traded REIT…

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Back-up Plan Surfaces for Downtown Block-E Complex

Back-up Plan Surfaces for Downtown Block-E Complex

By Gabriel Circiog, Associate Editor The future of the Block E retail-entertainment complex is in question, as Mayor R.T. Rybak says the plan to build a $400 million casino is not gathering pace at the Capitol, the Star Tribune reported. Ten years have passed since the Block E opened, and now the…

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Greystar Acquires 5.6-Acre Parcel; Apartments Expected

Greystar Acquires 5.6-Acre Parcel; Apartments Expected

By Gabriel Circiog, Associate Editor Greystar Real Estate Partners has acquired a portion of the former home of Bennett Lumber in the Uptown area of south Minneapolis. Finance & Commerce reports the national apartment owner and developer paid $5.7 million for the property, which is located between Colfax and Dupont Avenue…

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