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Finance & Commerce

@finance-commerce.bsky.social
40 followers 9 following 42 posts

Daily Minnesota business news that covers real estate, construction and more

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Finance & Commerce @finance-commerce.bsky.social · 16/01/2025
Busy day for news about apartment sales.
finance-commerce.com
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.
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Finance & Commerce @finance-commerce.bsky.social · 18/12/2024
A business expansion plan in Chaska.
finance-commerce.com
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...
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Finance & Commerce @finance-commerce.bsky.social · 17/12/2024
Saint Paul Port Authority to take charge of Kmart site.
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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.
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Finance & Commerce @finance-commerce.bsky.social · 13/12/2024
A reportedly small price for another Minneapolis office building.
finance-commerce.com
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.
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Finance & Commerce @finance-commerce.bsky.social · 12/12/2024
A big housing project clears an important hurdle in Mankato.
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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.
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Finance & Commerce @finance-commerce.bsky.social · 11/12/2024
The latest from our Just Sold feature.
finance-commerce.com
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 ...
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Finance & Commerce @finance-commerce.bsky.social · 10/12/2024
We have an update on the Thomson Reuters site.
finance-commerce.com
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.
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Finance & Commerce @finance-commerce.bsky.social · 10/12/2024
New Topgolf-related news in Woodbury.
finance-commerce.com
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.
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Finance & Commerce @finance-commerce.bsky.social · 10/12/2024
Weidner makes another purchase near a property it already owns.
finance-commerce.com
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.
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Finance & Commerce @finance-commerce.bsky.social · 06/12/2024
Here's an interesting look at data center development nationwide.
finance-commerce.com
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.
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Finance & Commerce @finance-commerce.bsky.social · 05/12/2024
Big plans for Life Time in Maple Grove.
finance-commerce.com
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...
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Finance & Commerce @finance-commerce.bsky.social · 04/12/2024
An update for the Prudential redevelopment site in Plymouth.
finance-commerce.com
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...
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Finance & Commerce @finance-commerce.bsky.social · 04/12/2024
Construction business more optimistic.
finance-commerce.com
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...
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Finance & Commerce @finance-commerce.bsky.social · 03/12/2024
Redevelopment plan gets revision in Eagan.
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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.
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Finance & Commerce @finance-commerce.bsky.social · 03/12/2024
Arbor Lakes in Maple Grove sees warehouse sale.
finance-commerce.com
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.
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Finance & Commerce @finance-commerce.bsky.social · 02/12/2024
Office sale at the Eagan BCBS campus.
finance-commerce.com
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 ...
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Finance & Commerce @finance-commerce.bsky.social · 02/12/2024
What is driving development in Cottage Grove?
finance-commerce.com
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.
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Finance & Commerce @finance-commerce.bsky.social · 27/11/2024
Oakdale stays busy with development proposals.
finance-commerce.com
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.
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Finance & Commerce @finance-commerce.bsky.social · 27/11/2024
West St. Paul may soon get new housing.
finance-commerce.com
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...
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Finance & Commerce @finance-commerce.bsky.social · 26/11/2024
ICYMI: New revitalization pitch for downtown Minneapolis goes big on office conversions.
finance-commerce.com
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.
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Finance & Commerce @finance-commerce.bsky.social · 26/11/2024
News about a Boston Scientific expansion in Maple Grove.
finance-commerce.com
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.
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Finance & Commerce @finance-commerce.bsky.social · 22/11/2024
Apartments trade hands.
finance-commerce.com
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.
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Finance & Commerce @finance-commerce.bsky.social · 21/11/2024
High-end homes could soon rise on Eden Prairie farmland.
finance-commerce.com
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.
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Finance & Commerce @finance-commerce.bsky.social · 21/11/2024
A strong tenant with a long lease made this property very appealing.
finance-commerce.com
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.
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Finance & Commerce @finance-commerce.bsky.social · 20/11/2024
The Thomson Reuters redevelopment effort in Eagan has picked up some key approvals.
finance-commerce.com
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...
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Finance & Commerce @finance-commerce.bsky.social · 20/11/2024
Maple Grove signs off on new school near new homes.
finance-commerce.com
Maple Grove OKs elementary school in development hotspot
A new elementary school got the green light from the Maple Grove City Council at its Monday meeting.
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Finance & Commerce @finance-commerce.bsky.social · 19/11/2024
Roers Cos. has plans for St. Louis Park's Wooddale Avenue Station.
finance-commerce.com
Roers Cos. to seek OK for $95M project in St. Louis Park
Roers Cos. is the latest suitor for the Wooddale Avenue Station site in St. Louis Park — a city-owned property that returned to the market last year after a previous project fell through.
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Finance & Commerce @finance-commerce.bsky.social · 19/11/2024
Apartment plans on White Bear Avenue.
finance-commerce.com
Beacon hopes to get OK for apartments in St. Paul - Finance & Commerce
Beacon Interfaith Housing Collaborative is hoping to see a vacant lot on St. Paul’s East Side rezoned so the nonprofit developer can build a 53-unit apartment building on the site, according to city p...
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Finance & Commerce @finance-commerce.bsky.social · 18/11/2024
Big River Real Estate makes an industrial move with portfolio purchase.
finance-commerce.com
Golden Triangle industrial buildings sold for $30M - Finance & Commerce
St. Louis Park-based Big River Real Estate has paid $30.33 million for a portfolio of 1970s and 1980s industrial buildings in Edina and Eden Prairie.
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Finance & Commerce @finance-commerce.bsky.social · 18/11/2024
F&C's latest Q&A sheds some light on what's happening Up North with Northspan's Shaun Hainey.
finance-commerce.com
Q&A: Building community development connections with Northspan’s Shaun Hainey - Finance & Commerce
Shaun Hainey is something of a numbers guy. “30% to 40% of my time,” Hainey said, is dedicated to running through information and working with his colleagues to maintain a database of various building...
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Finance & Commerce @finance-commerce.bsky.social · 15/11/2024
Check out F&C's latest city-focused development story. Rogers is a development draw for housing and industrial.
finance-commerce.com
Rogers a draw for housing and industrial development - Finance & Commerce
Suburban Rogers is defying Minnesota’s sharp slowdown in single-family and multifamily housing development this year.
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Finance & Commerce @finance-commerce.bsky.social · 15/11/2024
Take a deep dive into commercial property insurance.
finance-commerce.com
Weather, construction costs push insurance prices higher - Finance & Commerce
As global climate change continues to affect business and industry around the world, one of the sectors most impacted has been the insurance business, especially in property insurance.
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Finance & Commerce @finance-commerce.bsky.social · 15/11/2024
Check out profiles of this year's class of Top Women in Finance.
finance-commerce.com
Finance & Commerce's Top Women in Finance 2024 profiles - Finance & Commerce
The women in this magazine come from all walks of life and have unique stories to explain how they ended up in finance.
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Finance & Commerce @finance-commerce.bsky.social · 14/11/2024
The downtown Minneapolis AC Hotel has a new owner.
finance-commerce.com
AC Hotel in downtown Minneapolis sold - Finance & Commerce
The AC Hotel in downtown Minneapolis has brought in $30 million in a sale that happened between its developer and a Maryland-based REIT, according to documents made public earlier today.
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Finance & Commerce @finance-commerce.bsky.social · 14/11/2024
News from across the river in Wisconsin.
finance-commerce.com
Major La Crosse development underway after years of planning - Finance & Commerce
A major development outside of downtown La Crosse is taking off after 30 years of planning.
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Finance & Commerce @finance-commerce.bsky.social · 14/11/2024
Maple Grove strikes deal for land exchange with Life Time.
finance-commerce.com
Maple Grove strikes land exchange deal with Life Time - Finance & Commerce
With plans to expand the footprint of its community center and municipal space, the city of Maple Grove has struck a deal with Life Time to swap land near the Maple Grove Hospital for the current Life...
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Finance & Commerce @finance-commerce.bsky.social · 13/11/2024
Another big deal for a Twin Cities rental property.
finance-commerce.com
Richfield apartments sold for $52.2 million - Finance & Commerce
A 237-unit apartment building in Richfield has traded between two big local players in the Twin Cities multifamily space for $52.2 million, according to a certificate of real estate value released Wed...
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Finance & Commerce @finance-commerce.bsky.social · 13/11/2024
The new Heritage Millwork headquarters in Elk River nears completion.
finance-commerce.com
New Heritage Millwork HQ in Elk River nears finish - Finance & Commerce
After starting construction on the project in August, Benson-Orth anticipates it will finish its build of the new Heritage Millwork headquarters by January.
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Finance & Commerce @finance-commerce.bsky.social · 12/11/2024
Recently sold St. Cloud warehouses have a big footprint and a big looming tenant departure.
finance-commerce.com
St. Cloud warehouses with large upcoming vacancy sold - Finance & Commerce
The St. Cloud Industrial Park, an eight-building property in the central Minnesota city, has sold to Los Angeles-based Industrial Realty Group, the investment firm said.
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Finance & Commerce @finance-commerce.bsky.social · 12/11/2024
Another recent popular F&C story showcased the sale of another high-priced rental community in Woodbury.
finance-commerce.com
Woodbury townhome complex sells for $52M - Finance & Commerce
For the second time this year, a Woodbury rental complex consisting of townhome-style units has sold for north of $50 million to an out-of-state group.
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Finance & Commerce @finance-commerce.bsky.social · 12/11/2024
Here's one of the more popular stories F&C has covered this month. The city of Edina advanced a plan to convert a hotel into housing. finance-commerce.com/2024/11/edin...
finance-commerce.com
Edina planning body signs off on hotel conversion - Finance & Commerce
Construction could begin as soon the first quarter of next year on a rarity in the metro area — an affordable housing project that doesn’t require significant public investment.
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Finance & Commerce @finance-commerce.bsky.social · 12/11/2024
Finance & Commerce is now on Bluesky. Follow us for Minnesota construction and real estate news.
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