Three local real estate developers submitted proposals to develop parking facilities near the new Vikings stadium development; stakes are high for Ryan Companies, which must win the contract in order to begin a planned $400 million redevelopment project involving a five-block area surrounding the stadium site.
Real Estate + Development
Retail property management firm DDR, which co-owns Riverdale Village in Coon Rapids and 43 other U.S. shopping centers, said Wednesday it will buy out its joint venture partner in a $1.46 billion deal through which it will acquire 30 of the 44 centers.
A building with 165 luxury apartment units is being built near The Shops at West End in Golden Valley.
The proposal calls for the development of two 20-story office towers, a skyway-connected parking ramp, apartments, and a green space for “rail-gating”—but it is contingent upon several factors.
A recent feasibility study shows that a new convention hotel in Minneapolis would cost about $300 million, and 41 percent of that cost would need to come from public subsidies.
Software developer Calabrio moved its headquarters from Plymouth to a 30,000-square-foot office in downtown Minneapolis.
The first three Target stores in Canada were met with mixed reviews as some Canadian customers believed prices were too high.
The buyer, a San Francisco-based investment firm, signed a long-term contract with Minnetonka-based Carlson Rezidor Hotel Group, which owns the Radisson Blu Brand, to manage the hotel; renovations will begin later this year.
St. Paul-based McGough Construction, whose former projects include Twin Cities landmarks such as the Guthrie Theater and the Ordway Center, has been selected to build Surly’s so-called “destination brewery.”
Just months after being taken private, Caribou Coffee is closing 80 locations in several markets; its new owner, meanwhile, will convert another 88 locations into Peet’s Coffee & Tea stores.
The 30,000-square-foot facility is “focused specifically on fulfilling the needs of firearms enthusiasts,” and it will feature thousands of new and used guns.
The Mill in Northeast Minneapolis is closing its doors after about a year of hosting a collaborative workspace for local builders and designers.
Oppidan Investment announced plans for a new office building in North Dakota’s booming Bakken region where it has recently invested in real estate developments.
Construction on the new downtown Duluth office tower that will house Maurices’ national headquarters will not begin until spring 2013, about 6 months later than projected.
The former owner of Kieran’s Irish Pub and founder of 2 Gingers Irish Whiskey is offering his talents to emerging food and beverage businesses.
Developers say the city is an attractive option for apartments because of the retail development The Shops at West End and the city’s close proximity to downtown Minneapolis.
The design-build contract for the St. Paul stadium will be executed in two parts; Ryan will receive $1.72 million for the design portion, which was finalized Tuesday.
Mortenson Construction was selected as construction manager for the new Vikings stadium; it could make up to $15 million for the project, although that figure could drop significantly if it’s unable to complete the stadium on schedule.