The Minneapolis retail market did not experience much change in market conditions in the second quarter 2014. The vacancy rate remained unchanged at 4.9% from the previous quarter to the current quarter. Net absorption was positive 291,586 square feet, and vacant sublease space decreased by 4,022 square feet. In first quarter 2014, net absorption was […]

Marquz Corporation sold the 68-unit apartment complex at 615-620 18th St. E in Minneapolis, MN for $3.2 million, or about $47,000 per unit. The 50,232-square-foot building was constructed in 1964 in the Ventura Village Multifamily submarket of Minneapolis. Phil Reesnes of Michel Commercial Real Estate represented both sides of the sale. Please see CoStar COMPS […]

KBS Realty Advisors has acquired the 465,168-square-foot office complex at 3500 – 3600 American Blvd. W in Bloomington, MN from United Properties for $51 million, or about $110 per square foot. The LEED-EB Silver-certified twin office towers were built in 1979 and 1982 on 13 acres in the I-494 Corridor submarket of Hennepin County. Collectively […]

The Excelsior Group acquired the industrial buidling at 22000 Industrial Blvd. in Rogers, MN from Moen Leuer Construction, Inc. for $9.35 million, or approximately $31 per square foot. The single-story, 297,756-square-foot distribution building was constructed in 1984 on 13.6 acres in the Northwest Industrial submarket of Hennepin County. It features 34 loading docks and two […]

It’s time to update those contact managers with CoStar’s People of Note, reporting news on significant new CRE hires and promotions. This week’s issue includes the following markets: Seattle, Chicago, Houston, New York City, Washington DC, Los Angeles, San Francisco, Dallas, Memphis, Atlanta, Northern New Jersey, and Orlando. SEATTLE Taylor Named Global COO at Colliers […]