Finance and Commerce Daily Newspaper, MN articles from December 2006

Finance and Commerce Daily Newspaper, MN archives from December 2006

New York-based CBS Outdoor buys Transtop Minnesota bus shelter advertising concern.
December 2, 2006... Byline: Bob Geiger CBS Outdoor Inc. has acquired the Transtop Minnesota bus shelter advertising concern, which has 740 advertising panels on 370 bus shelters in the Twin Cities. Terms were not disclosed for the deal, which gives CBS...

St. Croix bridge put on fast track.
December 5, 2006... Byline: Brian Johnson A process aimed at speeding up key transportation projects is at the heart of a recent breakthrough in the $484 million St. Croix bridge project, according to federal transportation officials. The St. Croix project,...

A tale of two mayors at odds over the St. Croix River Crossing project.
December 5, 2006... Byline: Brian Johnson David Beaudet and Jay Kimble have some things in common. Both are mayors with strong opinions about issues affecting their towns, and both have a passion for the St. Croix River Valley. But when it comes to the...

With clock ticking,St. Croix River Bridge costs continue to rise.
December 5, 2006... Byline: Brian Johnson How much will it really cost to build the new St. Croix River Bridge? It depends on when they get around to building it. The long-anticipated river crossing is being portrayed in newspapers, including this one, as a...

As McGuire steps down, his gift to Minneapolis is completed.
December 5, 2006... Byline: Adam Johnson The sun has set on William McGuire's tenure as CEO of UnitedHealth Group, but an ambient glow remains at the newly completed Gold Medal Park, a 7.5-acre tract of green space that McGuire financed himself. Built on a...

Tinklenberg for an 'integrated' approach to transportation in MInnesota.
December 5, 2006... Byline: Brian Johnson Former Minnesota Department of Transportation Commissioner Elwyn Tinklenberg says state and federal transportation departments should take a more integrated approach to building. Tinklenberg, speaking at the annual...

University of Minnesota's Kolthoff Hall gets $21 million upgrade.
December 5, 2006... Byline: Adam Johnson Golden Valley-based M.A. Mortenson Co. has completed the first phase of a $21 million renovation at Kolthoff Hall on the University of Minnesota's Twin Cities campus. The construction firm is gutting 155,000 square...

Hennepin County funds study of Minneapolis scenic byway.
December 5, 2006... Byline: F&C Staff Hennepin County announced it will provide up to $200,000 for studies on completing the missing link in the Minneapolis Grand Round National Scenic Byway, between East River Road and Stinson Boulevard. The studies will...

AIA Minnesota announces awards.
December 5, 2006... Byline: F&C Staff A new chapel at St. Croix Lutheran School and a museum at the University of Alaska are among the 10 "honor award" projects from the Minnesota chapter of the American Institute of Architects. The awards -- presented last...

Plymouth-based Schoell Madson executive retires after 38 years.
December 5, 2006... Byline: F&C Staff Thomas Schottenbauer, director of business development at Plymouth-based Schoell Madson, has retired after 38 years at the planning, engineering and surveying firm. Schottenbauer, who joined firm as a survey crew chief,...

MnDOT plans to be available online Dec. 29.
December 5, 2006... Byline: F&C Staff The Minnesota Department of Transportation (MnDOT) will make construction plans and special provisions available through its Web site beginning Dec. 29. Department officials said MnDOT's goal is to provide 100 percent of...

Minnesota Marketing Briefs: December 9, 2006.
December 9, 2006... Byline: Bob Geiger Minneapolis ad agency Pocket Hercules is bursting at the seams. The small agency that sports a quirky name and executives with big-agency experience has moved from living room office space in south Minneapolis and plans...

MnDOT initiative aims to create more accurate project cost estimates.
December 12, 2006... Byline: Brian Johnson Back in the mid-1990s, when the Minnesota Department of Transportation starting talking about replacing the Wakota Bridge, the agency estimated that the project would cost about $100 million. By last August, when...

St. Olaf Science Complex project represents collaboration between college students and faculty.
December 12, 2006... Byline: Adam Johnson St. Olaf College senior Kristen Roys takes pride in knowing she is one of the youngest people ever to design a building at the Northfield liberal arts institution. Of course, she didn't do the schematic work, but she...

Hospitals redesign rooms from a patient's perspective.
December 12, 2006... Byline: Adam Johnson Spending a night in a hospital bed can be an unpleasant experience. For children with chronic or serious illnesses, that hospital room often becomes a temporary home for them and their families. And the added stress...

Whether drivers like it or not, more roundabouts are coming to Twin Cities.
December 12, 2006... Byline: Brian Johnson Local drivers may be advised to watch out and not pout. More roundabouts are coming to town. The circular intersections -- embraced by some, reviled by others -- are getting more complicated, too. Updated versions of...

MN House Transportation Committee will not consider pet projects from legislators.
December 12, 2006... Byline: Brian Johnson Bernie Lieder has a two-word message for those who take a short-sighted view of transportation planning: "Forget it." The Crookston DFLer, who is expected to chair the House Transportation Committee next spring,...

Highway builders brace for spike in asphalt costs.
December 12, 2006... Byline: Adam Johnson Highway contractors can expect to pay a hefty price to pave roads next year, due largely to a surge in asphalt prices, according to a trio of economic forecasters. Ken Simonson, chief economist with the Associated...

Electrocution case settles for $2.3M.
December 12, 2006... Byline: Michelle Lore It took four mediations and a looming trial date, but Coon Rapids attorney John T. Buchman was recently able to procure a seven-figure settlement for a construction worker electrocuted by a power line while installing...

Howard R. Green Co. hires engineer at St. Paul office.
December 12, 2006... Byline: Finance and Commerce Staff Ronald Armstrong has been hired as a project engineer at the St. Paul office of Howard R. Green Co. Armstrong has more than 18 years of experience as an electrical engineer on water treatment, wastewater...

Minnesota National Association of the Remodeling Industry recognizes Edina remodeling firm.
December 12, 2006... Byline: Finance and Commerce Staff An Edina firm has won an award from the Minnesota chapter of the National Association of the Remodeling Industry (NARI) for renovating a historic house. The firm, w.b. builders, 5617 Bernard Place, was...

State of MN awards $89.4 million for water treatment projects.
December 12, 2006... Byline: Finance and Commerce Staff The Minnesota Public Facilities Authority has awarded nearly $90 million in low-interest loans and grants for water treatment projects in the state Officials said $85 million will fund wastewater treatment...

Unreleased $200K study on ways to reduce traffic congestion in Minnesota outlines three alternatives.
December 14, 2006... Byline: Bill Clements An unreleased $200,000 study on ways to reduce traffic congestion at Snelling and University avenues in St. Paul outlines three alternatives, each of which would require a major reconstruction project. Any of the...

Minnesota's Central Corridor light-rail project needs to shed 15 percent of its cost.
December 14, 2006... Byline: Bill Clements During the next year, the Central Corridor light-rail project needs to shed 15 percent of its hefty cost, according to Peter Bell, chair of the Metropolitan Council. "Right now, it's at $940 million," Bell said in an...

Minnesota-based Plowshares Development Inc. plans expansive development on 493 acres.
December 14, 2006... Byline: Burl Gilyard Chanhassen-based Plowshares Development Inc. is planning an expansive development on 493 acres in Waconia. The proposed InterLaken project calls for more than 1,000 units in a mix of housing types while retaining 137...

Principal with Lupe Development to ask Minneapolis city council for override.
December 14, 2006... Byline: Mark Anderson The proposed Pacific Flats redevelopment in Minneapolis' North Loop may have fallen short of the city's historic preservation standards, but don't count the project out just yet. Steve Minn, a principal with Lupe...

Long-term bond rates create $28.4M savings for Minnesota taxpayers.
December 14, 2006... Byline: Mark Anderson Sometimes the stars align. The University of Minnesota's new football stadium and the state's taxpayers were the beneficiaries of this month's financial and astrological convergence when the stadium's bond auction...

Minnesota-based Frauenshuh HealthCare grabs a healthy piece of big box medical market.
December 14, 2006... Byline: Dan Emerson Just as big box stores have reshaped the retail landscape, another kind of big box center is having similar impact in the health-care field. Bloomington-based Frauenshuh HealthCare (FHC) has capitalized on the trend,...

Minneapolis-based CSM Corp. announces two commercial real estate projects.
December 14, 2006... Byline: Burl Gilyard Minneapolis-based CSM Corp. has announced two commercial projects: a speculative office project in the Midway area of St. Paul and a proposed build-to-suit industrial property in Rogers. In St. Paul, CSM plans to...

Finance and Commerce Real Estate Briefs: December 12, 2006.
December 14, 2006... Byline: Burl Gilyard Once upon a time, Minneapolis-based Lander Group envisioned a condo project at the southwest corner of 38th Street and Nicollet Avenue in south Minneapolis. The proposed 41-unit project was to be billed simply as "38."...

Minnesota-based Sherman Associates announces plans to build condo development in New Brighton.
December 14, 2006... Byline: Finance and Commerce Staff The Sherman Associates development firm of Minneapolis has announced plans to build Parkshore Condominiums in New Brighton. The 162-unit project will be a part of the Long Lake Landings mixed-use project...

Minnesota-based Venstar LLC. names president.
December 14, 2006... Byline: Finance and Commerce Staff Nino Pedrelli has been named president of Venstar LLC, an Edina-based real estate management and development company. Pedrelli, 50, has 25 years of experience in commercial real estate as a developer of...

Connecticut firm wins 5-Star award for "Best Real Estate Website in the USA".
December 14, 2006... Byline: Finance and Commerce Staff And the winner is... Portfolio Properties Group, a firm based in Goshen, Conn., has won the 5-Star award for "Best Real Estate Website in the USA." The firm was recognized recently as part of the 2006...

Ashford Hospitality Trust Inc. buys seven Minneapolis full-service hotels.
December 14, 2006... Byline: Finance and Commerce Staff Ashford Hospitality Trust Inc. has bought seven full-service hotels, including the 300-room Hilton Minneapolis Airport Hotel in Bloomington. The Dallas-based REIT paid $267.2 million for the properties...

Minnesota-based CB Richard Ellis promotes two to vice president posts.
December 14, 2006... Byline: Finance and Commerce Staff Two employees have been promoted at the Bloomington office of CB Richard Ellis. Matt Oelschlager was promoted to vice president, specializing in industrial brokerage in Minneapolis, while Brian Wasserman...

Minnesota Shopping Center Association discusses the development of a highway.
December 14, 2006... Byline: Finance and Commerce Staff The growth and development of the Highway 212 corridor through Chanhassen, Chaska and Carver will be the subject of the next meeting of the Minnesota Shopping Center Association (MSCA). The event will be...

Carleton Artist Lofts in St. Paul wins 2006 top project honors.
December 14, 2006... Byline: Finance and Commerce Staff The Carleton Artist Lofts in St. Paul has been named the 2006 Project of the Year by University United. In addition, the community group presented its Metro Award on Tuesday to St. Paul-based Transit for...

Minnesota-based Upland Real Estate Group Inc. brokers sale of three Virginia Jiffy Lube properties.
December 15, 2006... Byline: Finance and Commerce Staff Upland Real Estate Group Inc. of Minneapolis brokered the sale of three Jiffy Lube properties in West Virginia. Keith Sturm, Michael Houge and Deborah Vannelli of Upland sold the single-tenant net-leased...

Nutrisoda products make the grade with the USDA.
December 16, 2006... Byline: Bob Geiger Adopting a "No School Left Behind" attitude, Ardea Beverage Co. is counting on the nation's high schools and colleges to increase distribution and revenue. The company's Airforce Nutrisoda products this week were...

Henderson hired by Minneapolis ad agency Colle + McVoy.
December 16, 2006... Byline: Bob Geiger After leaving his executive creative director position at Minneapolis ad agency Olson, Chris Henderson this week changed titles and employers by taking an interactive creative director post at another Minneapolis shop,...

Contractors still waiting to finish remodeling job for victimized, elderly Minneapolis couple.
December 19, 2006... Byline: Adam Johnson It should have been simple. And for a time, it seemed as though it would be. Betty Caverly, 81, and her husband, Gerald, 78, received an outpouring of sympathy this fall after it came to light that they had paid a...

Minnesota Historical Society plans improvements at Split Rock Lighthouse.
December 19, 2006... Byline: Brian Johnson The Minnesota Historical Society wants to shore up some old buildings at the Split Rock Lighthouse Historic Site near Two Harbors. The society, which administers the historic site, recently put out a request for...

Planned sewer project leaves foul smell with Wayzata group.
December 19, 2006... Byline: Brian Johnson Lake Street extends through the heart of downtown Wayzata, with jewelry stores, stationery shops, fancy boutiques and other businesses on one side of the street and Lake Minnetonka on the other. Within the next few...

Plan for building world's largest gingerbread house gets a reality check.
December 19, 2006... Byline: Adam Johnson When Greg Hollenkamp sat down to design the world's largest gingerbread house last summer, he aimed to craft a confectionary cottage that evoked images of Hansel and Gretel, the hungry twins who happened upon a similar...

Building Split Rock Lighthouse on Lake Superior was no easy task.
December 19, 2006... Byline: Brian Johnson Seven decades before the well-documented Edmund Fitzgerald disaster killed 29 crew members, a November 1905 storm on Lake Superior cemented the lake's reputation as a navigator's November nightmare. The storm resulted...

Concrete pavement group honors Minnesota projects.
December 19, 2006... Byline: Finance and Commerce Staff Four Minnesota projects were among the winners of the 17th annual "Excellence in Concrete Pavement Awards" from the American Concrete Pavement Association. The awards recognize contractors, engineers and...

Minneapolis-based Kraus-Anderson names project manager in Duluth.
December 19, 2006... Byline: Finance and Commerce Staff Minneapolis-based Kraus-Anderson Construction Co. has hired Daniel Janisch as a project manager in the company's Duluth office. Janisch previously was assistant project manager with M.A. Mortenson Co. in...

Chuck Ault named managing principal at Minneapolis office of Leo A Daly.
December 19, 2006... Byline: Finance and Commerce Staff Chuck Ault has been named managing principal at the Minneapolis office of the Leo A Daly architecture, planning, engineering and interior design firm. Ault has more than 34 years of building design...

American Engineering Testing of St. Paul, Braun Intertec of Bloomington share award.
December 19, 2006... Byline: Finance and Commerce Staff Braun Intertec Corp. of Bloomington and American Engineering Testing Inc. of St. Paul received a Grand Award from the American Council of Engineering Companies (ACEC) for their work to change the most...

Edina faces challenge of managing development when there's no fresh land left to be developed.
December 21, 2006... Byline: Burl Gilyard Edina has a longtime reputation in the metro area as a well-to-do enclave and a haven for upscale shopping, including Southdale Center, which opened in 1956. But Edina faces the same challenges as other first-ring...

Sale of commercial buildings in Richfield will end 3 generations of ownership by Ahlquist family.
December 21, 2006... Byline: Bob Geiger In the grander scheme of commercial real estate, the sale of two family-owned commercial buildings in Richfield might not seem like a big deal. But it is for Mark Ahlquist, who expects to feel a twinge of sadness when...

Upper Bluff at Fort Snelling attracts plenty of development ideas.
December 21, 2006... Byline: Bill Clements Hennepin County officials are looking into creating a trust or related entity that would act as owner and master developer of the long-vacant Upper Bluff at Fort Snelling. But if the county decides against such a...

Upper Bluff area of Fort Snelling draws interest from Kraus-Anderson.
December 21, 2006... Byline: Burl Gilyard Kraus-Anderson Realty Co. is dipping its toe into the pool of prospects for redevelopment at the Upper Bluff area of Fort Snelling. The preliminary concept from Kraus-Anderson calls for a project modeled on Colonial...

California investment and development firm has big plans for Pine Island.
December 21, 2006... Byline: Burl Gilyard A California investment and development firm has big designs on Pine Island. Woodland, Calif.-based Tower Investments LLC envisions an expansive mixed-use development that would include a 1.7 million-square-foot...

Feds tighten commercial real estate lending rules.
December 21, 2006... Byline: Mark Anderson Federal bank regulators this month published a final, revised version of new rules aimed at limiting risk in the fast-growing commercial real estate lending business. The revisions showed that regulators listened to...

Bioscience development projects win funding from state of Minnesota.
December 21, 2006... Byline: Finance and Commerce Staff State officials announced $4 million in grants to help pay for five bioscience research and development projects in the state. The funding was awarded under the Bioscience Business Development Public...

Plymouth-based Carlson Real Estate Co. finishes third phase of industrial acquisitions.
December 21, 2006... Byline: Finance and Commerce Staff Plymouth-based Carlson Real Estate Co. has completed the last of three major flex and industrial property acquisitions in Charlotte, N.C. The firm announced the purchase of the 11-building,...

Industrial broker joins Twin Cities office of Colliers Turley Martin Tucker.
December 21, 2006... Byline: Finance and Commerce Staff The Twin Cities office of Colliers Turley Martin Tucker has hired Jeffrey Pearson as a junior industrial broker. He will join the industrial team of Josh Huempfner and Duane Poppe. Pearson has a...

CSM veteran Carland joining Wayzata firm.
December 21, 2006... Byline: Finance and Commerce Staff David Carland, a 26-year veteran of the Minneapolis-based CSM Corp. development firm, is leaving to help launch another development company. Carland, who helped develop more than 9 million square feet of...

Members sought for St. Paul/Minneapolis light-rail advisory group.
December 21, 2006... Byline: Finance and Commerce Staff The Central Corridor Partnership is seeking candidates to serve on an advisory council that will provide input on the 11-mile light-rail line between St. Paul and Minneapolis. Qualified applicants must own...

Risdall Advertising Agency plans a name change.
December 26, 2006... Byline: Bob Geiger New Brighton firm Risdall Advertising Agency will change its name to Risdall Marketing Group (RMG) on Jan. 1 in a move that reflects an umbrella identity for the shop's seven divisions. The move also is a sign of the...

U of MN director of financial research working to make life better for students.
December 26, 2006... Byline: Brian Johnson Lincoln Kallsen speaks from experience when he talks about the University of Minnesota's need for better classrooms and more consolidated student services. "I sat in some pretty bad classrooms here," said Kallsen, a...

U of MN's ugliest building unlikely to be missed.
December 26, 2006... Byline: Brian Johnson The University of Minnesota is advancing plans to replace one of its most uninspiring buildings with an architectural gem. If those plans become reality, demolition crews will knock down the Science Classroom Building...

Mill City building overcomes structural headaches.
December 26, 2006... Byline: Adam Johnson After the years of effort that went into converting the fire-damaged Washburn A Mill into the Mill City Museum in downtown Minneapolis, museum officials assumed that renovating the remnants of a small adjacent building...

Blaine complex adds to Minnesota hockey lore.
December 26, 2006... Byline: Adam Johnson Minnesota has a longtime reputation as one of the biggest hockey regions south of the Canadian border. The state is home to the icy sport's U.S. Hockey Hall of Fame and produced most of the famed 1980 Olympic hockey...

Law aims to advance cleaner, safer home environments.
December 26, 2006... Byline: Brian Johnson Minnesota home builders who aren't on the clean air bandwagon yet may find that now is a good time to hop on board. Beginning Jan. 1, a new state law will require all new homes and apartments in Minnesota to have...

Nicollet Mall holds key to downtown Minneapolis office development.
December 28, 2006... Byline: Burl Gilyard The latest market statistics from United Properties aren't much to brag about. They show downtown Minneapolis with an office vacancy rate of 17.3 percent, the highest of any submarket outside of downtown St. Paul. The...

Uptown hotel project seeks moratorium waiver from Minneapolis.
December 28, 2006... Byline: Mark Anderson Hotel Uptown planners hope to stay on schedule despite a neighborhood development moratorium that stands in their way. The developers, a group of south Minneapolis residents led by Curt Gunsbury, plan to begin...

Minneapolis Star Tribune sold: Will its adjacent land be next?
December 28, 2006... Byline: Burl Gilyard The surprise sale of the Minneapolis Star Tribune raises new questions about the land owned by the newspaper on the eastern edge of downtown Minneapolis near the Metrodome. On Tuesday, Star Tribune parent McClatchy Co....

Iowa deal shows Minneapolis-based Welsh Capital's flexibility.
December 28, 2006... Byline: Mark Anderson One of Welsh Capital's final deals in its busiest year ever required some envelope-stretching, both for the Minneapolis-based mortgage banker and the conduit lender that funded the transaction. Welsh closed a $16.8...

Minneapolis-based Thrivent Financial for Lutherans tries off-the-wall ad approach.
December 28, 2006... Byline: Bob Geiger Combining early sunsets, holiday promotion and projection advertising, Thrivent Financial for Lutherans lit up a wall of its Minneapolis headquarters with holiday-themed display advertising last week. Thrivent used...

Colliers offers annual commercial real estate focus event at Univ. of Minnesota.
December 28, 2006... Byline: F&C Staff Report Experts from Colliers Turley Martin Tucker will present their view of commercial real estate activity in the Twin Cities during a Feb. 1 program at the University of Minnesota. Larry Chevalier and Martin Wolfe will...

Minneapolis chapter of International Real Estate Management announces 2007 officers.
December 28, 2006... Byline: F&C Staff Report Todd Balsiger will be the new president of the Minnesota chapter of the Institute of Real Estate Management (IREM). Balsiger, who is director of business development for Wayzata-based Steiner Development, is one of...

Rolf Kemen joins CBRE in Minneapolis.
December 28, 2006... Byline: F&C Staff Report The Global Corporate Services group of the Minneapolis office of CB Richard Ellis has a new strategic planning consultant -- Rolf Kemen -- from the company's New York office. Kemen, who is a managing director, will...

Real estate exec to present outlook in Twin Cities.
December 28, 2006... Byline: F&C Staff Report Kenneth Riggs, CEO of Chicago-based Real Estate Research Corp. (RERC), will be offering his state of the U.S. commercial real estate industry presentation in the Twin Cities on Tuesday, Jan. 9. "Expectations and...

Trust for Public Land protects Boundary Waters site.
December 28, 2006... Byline: F&C Staff Report The San Francisco-based Trust for Public Land and the Friends of the Boundary Waters Wilderness have combined forces to purchase a 25-acre parcel that will ensure continued access to the Mudro Lake Boundary Waters...