Syndicate Apartments LLC, a Minnesota-based investor, acquired Douglas Drive Terrace, a two-building multifamily complex at 3300-3330 Douglas Dr. N in Minneapolis, MN for $2.75 million, or about $60,000 per unit. The two-story buildings were constructed in 1962 and 1963 on 1.2 acres in the Bassett Creek submarket of Hennepin County. The assets, totaling 46 units, […]

Global legal practice Norton Rose Fulbright has signed a full-floor lease at RBC Plaza, located at 60 S. 6th St. in Minneapolis, MN. The firm will take occupancy of 18,505 square feet there in November 2014. The 40-story, 609,368-square-foot, 4-Star office building was constructed in 1991 on nine-tenths of an acre in the Minneapolis CBD […]

During the first quarter 2014, five office buildings totaling 736,355 square feet were completed in the Minneapolis market area. This compares to two buildings totaling 51,642 square feet that were completed in the fourth quarter 2013. There were 1,894,566 square feet of office space under construction at the end of the first quarter 2014. Some […]

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: St. Louis, Washington DC, Chicago, Houston, San Diego, Cleveland / Northern Ohio, Dallas / Ft. Worth, Northern New Jersey, Long Island, Cincinnati, and South Bay. ST. LOUIS […]

The Minneapolis retail market did not experience much change in market conditions in the first quarter 2014. The vacancy rate for the current quarter remained unchanged at 5.0% from the previous quarter. Net absorption was positive 127,861 square feet, and vacant sublease space increased by 15,357 square feet. In fourth quarter 2013, net absorption was […]