Doran Cos. Construction Biz Jumps 75% in Last Year
Doran Companies announced last week that business within its construction arm has increased 75 percent within the past year.
The Bloomington-based commercial development company has steadily added new projects in recent months.
According to Kelly Doran, the company's founder and principal, its construction arm gained more than $20 million in new business in September and October of 2009. Despite the lingering effects of the recession, things really began looking up in the last quarter of that year, enabling the company to continue to add projects ever since.
In August, Doran completed a 125-unit, off-campus student housing project at Sydney Hall, located on the corner of Fourth Street and 15th Avenue close to the University of Minnesota campus. Then earlier this month, Doran broke ground on the 412 Lofts, a 102-unit student housing project at the northeast corner of Fourth Street and 12th Avenue Southeast in Minneapolis' Dinkytown neighborhood near the U of M.
Other major projects that Doran has added to its portfolio within the past year are 199,000-square-foot Menards stores in Marshall and Bemidji, a two-story, 236,000-square-foot Menards store in Eden Prairie, and a U.S. Bank branch in Fergus Falls-all of which represent repeat business.
Other projects completed within the past year include a Menards store in Nebraska, a U.S. Bank addition in Hudson, Wisconsin, and LA Fitness centers in both Minneapolis and St. Louis Park.
“Clearly, there is business potential out there, but repeat business based on the quality of our work and meeting completion deadlines is what makes for a solid reputation in the construction world,” Doran said in a statement.
Doran Companies operates in three categories-construction, development, and management. It was founded in 2007.