Sage Hospitality secured a $30.3 million loan for the acquisition and renovation of Marriott Minneapolis Southwest at 5801 Opus Pky in Minnetonka, MN, part of the Opus 2 Business Park. The lender, PCCP LLC, primarily focuses on the debt and equity investments associated with commercial real estate properties. Built in 1988, the hotel features 321 […]

United Properties will break ground next month on a brand new office project at 524 N. 5th St. in Minneapolis, MN. The National Marrow Donor Program will occupy the building, named Be The Match, starting in January 2016. The project features more than 293,000 square feet of office space. It is tentatively scheduled to complete […]

SuperValu Inc. completed its acquisition of 18 Rainbow stores in the Twin City area from Roundy’s Inc. for $65 million. Following the store conversions, SuperValu will supply all 18 of the acquired stores out of its Hopkins, Minnesota distribution center. SuperValu along with four Twin Cities-based independent retailers – Jerry’s Enterprises, Haug Enterprises, Lund Food […]

Rice Real Estate Company acquired Two Appletree Square at 8031 34th Ave. S in Bloomington, MN from ATS II Associates LP for $3.95 million, or about $39 per square foot. The four-story, 100,681-square-foot office building was built in 1982 on 1.9 acres in the I-494 Corridor submarket of Hennepin County, south of the Minneapolis – […]

Scannell Properties acquired the Brockton Industrial Park at 12395 N. Brockton Ln. in Rogers, MN for $5.99 million, or about $112,000 per acre, from private investors. The industrial park, which comprises 53.25 acres zoned I-1, will be used to develop a distribution facility for FedEx totaling approximately 304,000 square feet. Construction is slated to begin […]