Finance & Commerce
@finance-commerce.bsky.social
Daily Minnesota business news that covers real estate, construction and more
Busy day for news about apartment sales.
ElseWarehouse apartments in Minneapolis sell for $40.25M
The 100-year-old ElseWarehouse in Minneapolis' North Loop sold for $40.25M in a 1031 exchange, boasting 116 apartments and 16,000 sq. ft. of retail space.
finance-commerce.com
January 16, 2025 at 10:46 PM
Busy day for news about apartment sales.
A business expansion plan in Chaska.
Chaska advances Beckman Coulter expansion plans
Beckman Coulter, a provider of life diagnostics systems for the health care industry, wants to grow its already strong presence in the southwest metro area with a $50 million building expansion in Cha...
finance-commerce.com
December 18, 2024 at 2:57 PM
A business expansion plan in Chaska.
Saint Paul Port Authority to take charge of Kmart site.
Saint Paul Port Authority to buy blighted Kmart property
The Saint Paul Port Authority has acquired a blighted, long-vacant Kmart on the East Side of St. Paul and is now marketing the property for redevelopment.
finance-commerce.com
December 17, 2024 at 10:48 PM
Saint Paul Port Authority to take charge of Kmart site.
A reportedly small price for another Minneapolis office building.
Wells Fargo Center sells at reportedly steep discount
The new owner of the Wells Fargo Center in downtown Minneapolis appears to have landed the iconic building at a fire sale price.
finance-commerce.com
December 13, 2024 at 8:28 PM
A reportedly small price for another Minneapolis office building.
A big housing project clears an important hurdle in Mankato.
Huge housing development in Mankato advances
After a positive review from the Mankato City Council this week, momentum is building for Mesenbrink Construction’s plan to develop more than 800 housing units on a 105-acre site in the city.
finance-commerce.com
December 12, 2024 at 2:01 AM
A big housing project clears an important hurdle in Mankato.
The latest from our Just Sold feature.
Just Sold: Chicago investor buys Lowertown lofts conversion
Chicago-based Altitude Capital Partners, which describes itself as a private, alternative asset manager seeking opportunistic multifamily equity investments in the lower middle market, has paid $9.05 ...
finance-commerce.com
December 11, 2024 at 3:46 PM
The latest from our Just Sold feature.
We have an update on the Thomson Reuters site.
Colliers brokers Thomson Reuters land sale to Ryan Cos.
Ryan Cos. US Inc. has closed on its acquisition of the former Thomson Reuters campus in Eagan, according to Colliers.
finance-commerce.com
December 10, 2024 at 10:23 PM
We have an update on the Thomson Reuters site.
New Topgolf-related news in Woodbury.
Future Topgolf site in Woodbury fetches $4M
Texas-based Main Event Entertainment has paid $4.02 million in cash for a property on Bielenberg Drive in Woodbury, a transaction related to a future Topgolf-anchored entertainment center.
finance-commerce.com
December 10, 2024 at 3:02 PM
New Topgolf-related news in Woodbury.
Weidner makes another purchase near a property it already owns.
Weidner buys 168-unit North Loop apartment
Another 168 apartment units are now under ownership and management of Weidner Apartment Homes, after the Washington-based company’s recent purchase of a North Loop multifamily property.
finance-commerce.com
December 10, 2024 at 12:22 AM
Weidner makes another purchase near a property it already owns.
Here's an interesting look at data center development nationwide.
As data centers proliferate, conflict with local communities follows
As data centers proliferate across the U.S., some communities are pushing back over economic and social concerns.
finance-commerce.com
December 6, 2024 at 5:01 PM
Here's an interesting look at data center development nationwide.
Big plans for Life Time in Maple Grove.
Life Time pitches luxury housing-fitness mix in Maple Grove
As part of its ambitious expansion plan in Maple Grove, Life Time wants to bring luxury apartments to the city in addition to a high-end fitness club — a mixed-use concept that the company has advance...
finance-commerce.com
December 5, 2024 at 11:25 PM
Big plans for Life Time in Maple Grove.
An update for the Prudential redevelopment site in Plymouth.
Just Sold: Coborn’s acquires grocery site in Plymouth
Coborn’s Inc., an employee-owned grocery retailer based in St. Cloud, has started work on a prototype grocery and liquor store that will serve as an anchor for “The Boulevard,” a 75-acre, $300 million...
finance-commerce.com
December 4, 2024 at 7:45 PM
An update for the Prudential redevelopment site in Plymouth.
Construction business more optimistic.
Minneapolis Fed: Construction outlook is ‘optimistic’
With inflation moderating and interest rates trending down, local construction companies have a rosier outlook for the coming year than they did at this time in 2023 or 2022, according to a new survey...
finance-commerce.com
December 4, 2024 at 2:56 PM
Construction business more optimistic.
Redevelopment plan gets revision in Eagan.
Eagan school site redevelopment would bring apartments, townhomes
Eagan residents may see an influx of apartment and townhome units soon, depending on the Eagan City Council’s vote to approve an environmental assessment worksheet later this month.
finance-commerce.com
December 3, 2024 at 11:45 PM
Redevelopment plan gets revision in Eagan.
Arbor Lakes in Maple Grove sees warehouse sale.
Two Endeavor warehouses sell for $66.5M
A JLL investment subsidiary has purchased two warehouses in Maple Grove’s Arbor Lakes Business Park for $66.5 million according to a certificate of real estate value.
finance-commerce.com
December 3, 2024 at 2:37 PM
Arbor Lakes in Maple Grove sees warehouse sale.
Office sale at the Eagan BCBS campus.
Future Solventum home in Eagan sold for $11.65M
The future home of 3M spinoff company Solventum has sold for $11.65 million, a deal that ties in with the health care company’s plans for a previously announced $200M-plus expansion and investment in ...
finance-commerce.com
December 2, 2024 at 11:00 PM
Office sale at the Eagan BCBS campus.
What is driving development in Cottage Grove?
Cottage Grove keeps riding housing development boom
Like many suburban edge cities, Cottage Grove saw a surge in single-family residential development earlier this decade.
finance-commerce.com
December 2, 2024 at 3:12 PM
What is driving development in Cottage Grove?
Oakdale stays busy with development proposals.
Enclave advances plans for 374 apartments, townhomes in Oakdale
Enclave Cos. has another round of city approvals in hand for a development that will bring hundreds of new market-rate homes to a transit-oriented site in Oakdale.
finance-commerce.com
November 27, 2024 at 10:24 PM
Oakdale stays busy with development proposals.
West St. Paul may soon get new housing.
Reuter Walton pitches workforce housing in West St. Paul
St. Louis Park-based Reuter Walton plans to seek land use applications from the city of West St. Paul next month for a workforce housing project that would have, in the developer’s words, the “look an...
finance-commerce.com
November 27, 2024 at 2:30 PM
West St. Paul may soon get new housing.
ICYMI: New revitalization pitch for downtown Minneapolis goes big on office conversions.
Downtown Minneapolis revitalization pitch includes office conversions
The Minneapolis Downtown Council is looking for about 3 million square feet of office space to convert into residential space, according to a new report released by the group earlier today.
finance-commerce.com
November 26, 2024 at 10:09 PM
ICYMI: New revitalization pitch for downtown Minneapolis goes big on office conversions.
News about a Boston Scientific expansion in Maple Grove.
Boston Scientific clears hurdle for building expansion in Maple Grove
Boston Scientific has the Maple Grove Planning Commission’s support for a proposed building addition on the company’s Weaver Lake Road Campus.
finance-commerce.com
November 26, 2024 at 10:02 PM
News about a Boston Scientific expansion in Maple Grove.
Apartments trade hands.
Northwest metro apartments sell for a combined $15.9M
Apartments located in Crystal and Anoka, with a combined 131 units, have been acquired by Los Angeles-based Coast View Strategies, according to a press release from Colliers.
finance-commerce.com
November 22, 2024 at 8:07 PM
Apartments trade hands.
High-end homes could soon rise on Eden Prairie farmland.
Housing proposed on rare Eden Prairie farm property
A rare active farm site in Eden Prairie could be the landing spot for a proposed development that would bring more than 100 new high-end, for-sale homes to the suburb.
finance-commerce.com
November 21, 2024 at 10:21 PM
High-end homes could soon rise on Eden Prairie farmland.
A strong tenant with a long lease made this property very appealing.
Home Depot distribution center sells for $70M
A warehouse with 18 years left on its current tenant’s lease has been sold for $70.15 million, according to one of the brokers who facilitated the deal.
finance-commerce.com
November 21, 2024 at 5:00 PM
A strong tenant with a long lease made this property very appealing.
The Thomson Reuters redevelopment effort in Eagan has picked up some key approvals.
Eagan Council grants approvals for Thomson Reuters campus
Minneapolis-based Ryan Cos. US Inc.’s plans to redevelop about two-thirds of the Thomson Reuters campus in Eagan are advancing on the heels of positive reviews from the Eagan City Council and the Metr...
finance-commerce.com
November 20, 2024 at 10:40 PM
The Thomson Reuters redevelopment effort in Eagan has picked up some key approvals.