Ridgeview Partners Ltd. sold the flex building at 11921-11935 Portland Ave. in Burnsville, MN to Maple Ridge Center LLC for $2.1 million, or about $46 per square foot. The 45,503-square-foot, light manufacturing building was delivered in 1981 on 3.8 acres in the South Central Industrial submarket of Dakota County. It features 33 percent office build-out, […]

Learning Strategies Corporation sold the Ridgehill Professional Building at 2000 Plymouth Rd. in Minnetonka, MN to Maple Ridge Center LLC for $5.23 million, or about $153 per square foot. The 34,188-square-foot office building delivered in 1984 on six acres in Hennepin County. The building is currently occupied by multiple tenants including LA Weight Loss Center […]

LS Realty Group acquired the Mound Marketplace at 2131-2195 Commerce Blvd. in Mound, MN from PBK Investments for $7.55 million, or approximately $131 per square foot. The shopping center delivered between 2002 and 2003 and totals 57,462 square feet. The asset is anchored by Jubilee Foods with in-line space filled by Verizon, Subway, and Great […]

A family trust acquired the Walgreens at 2499 Hwy 7 in Excelsior, MN from Anxon, Inc. for almost $8.55 million, or about $648 per square foot. The single-story, 14,490-square-foot, free-standing retail building was constructed in 2009 on 1.1 acres in the Eden Prairie Retail submarket of Carver County. It is fully occupied by Walgreens on […]

The Minneapolis Office market ended the first quarter 2014 with a vacancy rate of 9.4%. The vacancy rate was unchanged over the previous quarter, with net absorption totaling positive 640,813 square feet in the first quarter. That compares to positive 174,315 square feet in the fourth quarter 2013. Vacant sublease space decreased in the quarter, […]