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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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Fifth Street Towers Returned to Lender

Fifth Street Towers Returned to Lender

By Gabriel Circiog, Associate Editor Fifth Street Towers, the gigantic downtown Minneapolis office complex, has been returned to its lender, Finance & Commerce reports. The 1.1 million-square-foot complex overlooking Fifth Street and Marquette Avenue has been taken over from London-based Strategic [...]…

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Hennepin County Seeks Partners for Interchange Transit Hub

Hennepin County Seeks Partners for Interchange Transit Hub

By Gabriel Circiog, Associate Editor Hennepin County is seeking partners for the proposed $67.7 million Interchange transit hub in downtown Minneapolis, Finance & Commerce reports. A developer is sought to build on a 30,000-square-foot county-owned lot, next to the main Interchange [...]…

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Minneapolis Downtown Council Unveils Downtown 2025 Plan

Minneapolis Downtown Council Unveils Downtown 2025 Plan

By Gabriel Circiog, Associate Editor The Minneapolis Downtown Council has unveiled an ambitious 15-year plan for the city’s central business district. Finance & Commerce reports that the plans, which will include the new Vikings stadium near Target Field, are worth around [...]…

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Minneapolis Continues to Support Target Center Renovation

Minneapolis Continues to Support Target Center Renovation

By Gabriel Circiog, Associate Editor City of Minneapolis officials vow to continue backing the city-owned Target Center renovation, Finance & Commerce reports. Although the city would like to carry out the work in parallel with the construction of a new football [...]…

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Target Plans Brooklyn Park Office Campus Expansion; Duke Realty Expands Industrial Portfolio

Target Plans Brooklyn Park Office Campus Expansion; Duke Realty Expands Industrial Portfolio

By Gabriel Circiog, Associate Editor The Target Corp. is planning to expand its Brooklyn Park office campus by adding a seventh building on the site, which would add another 245,000 square feet of office space, Finance & Commerce reports. A proposed [...]…

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Twin Cities Multi-Family Projects Proliferate

Twin Cities Multi-Family Projects Proliferate

By Gabriel Circiog, Associate Editor The Twin Cities region is in a full-on apartment development boom. Two new apartment complexes have been completed and already have their first residents, while local developer Michael Lander plans three apartment projects, Finance & Commerce [...]…

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