Finance and Commerce Daily Newspaper, MN articles from January 2005

Finance and Commerce Daily Newspaper, MN archives from January 2005

Minneapolis attorney discusses his alternative dispute resolution practice and coffee plantation.
January 4, 2005... Byline: Michelle Lore, Minnesota Lawyer (This article originally ran in Minnesota Lawyer, Minneapolis, MN, another Dolan Media publication). Minneapolis attorney William Foster has practiced law in the Twin Cities area for more than 25...

East Grand Forks-based Ideal Aerosmith purchases Carco Electronics.
January 5, 2005... Byline: Finance & Commerce Staff Ideal Aerosmith Inc. acquired Carco Electronics of Menlo Park, Calif., and Pittsburgh. Terms of the deal were not disclosed. Carco Electronics produces missile flight simulators and other...

Special section: MN's 2005 Legislative Session Preview.
January 6, 2005... Byline: Finance & Commerce Staff It's a new year and a new session. But the topics that are expected to dominate the 2005 Minnesota legislative session, including the budget deficit, transportation funding and stadium proposals, will look...

St. Paul brewery draws developer interest.
January 6, 2005... Byline: Burl Gilyard An industrial site of about 15 acres - once home to the Schmidt brewery (more recently the Minnesota Brewing Co.) and the Gopher State ethanol plant in St. Paul - is on the auction block after the bankruptcy of Gopher...

MN governor releases busway bonding funds.
January 6, 2005... Byline: Finance & Commerce Staff Gov. Tim Pawlenty announced last week that $20 million in state bond proceeds have been made available for a busway north of downtown Minneapolis. The money was authorized by the Legislature in 2002....

Minneapolis building owners assn. sets commercial real estate outlook.
January 6, 2005... Byline: Finance & Commerce Staff The Greater Minneapolis Building Owners and Managers Association will examine the outlook for the 2005 commercial real estate market during a breakfast meeting on Thursday, Jan. 20. The event will begin...

MN gets additional funding for brownfield cleanups.
January 6, 2005... Byline: Finance & Commerce Staff The Minnesota Department of Employment and Economic Development (DEED) has received a $500,000 supplemental grant from the U.S.Environmental Protection Agency to help clean up brownfield sites in the state....

Eden Prairie-based Hartford Group adds two landscape designers to staff.
January 6, 2005... Byline: Finance & Commerce Staff Eden Prairie-based real estate developer Hartford Group Inc. has added two members to its land planning staff. Robert Binder was hired as a landscape architect. Binder, who has more than 13 years of...

Water park construction set to begin in Bloomington.
January 6, 2005... Byline: Finance & Commerce Staff Construction cranes have been moved into place in Bloomington at the site of what developers say will be the largest indoor water park in the country. Water Park of America is being built near the Mall...

Minneapolis office of 3D/I to manage Slayton hospital construction project.
January 6, 2005... Byline: Finance & Commerce Staff The Minneapolis office of 3D/I has been selected to manage construction of a $3 million addition and renovation at the Murray County Memorial Hospital in Slayton. The project will include the addition...

Open house planned at converted Land 'O Lakes mill.
January 6, 2005... Byline: Finance & Commerce Staff An open house has been set for Thursday, Jan. 13, at the newly renovated Land O' Lakes Feed Mill at 2300 Kennedy St. in northeast Minneapolis. The building, now known as the 2300 Kennedy Street NE...

Pavement conference scheduled for Feb. 17 in St. Paul.
January 6, 2005... Byline: Finance & Commerce Staff The Minnesota Pavement Conference will be held Thursday, Feb. 17, on the St. Paul campus of the University of Minnesota. The conference is designed for industry professionals who want to learn more...

MN Construction Briefs: January 6, 2005.
January 6, 2005... Byline: Finance & Commerce Staff The 2005 market survey from the Associated General Contractors of Minnesota includes a written comment that concisely sums up many contractors' feelings about the local construction market: "2003 was a very...

Grubb & Ellis/Northco market study offers (still) mixed real estate outlook.
January 6, 2005... Byline: Burl Gilyard A fresh commercial real estate market report offers a guarded outlook for 2005. The Grubb & Ellis/Northco Real Estate Services report shows that retail and the medical office niche remain strong, industrial space is...

Commentary: Tracking office vacancies can be (at best) an inexact science.
January 6, 2005... Byline: Burl Gilyard Critics of the media often say that reporters should just stick to the facts. I'll do my best. It's a fact that in November the local chapter of NAIOP (National Association of Industrial and Office Properties)...

Minneapolis's North Loop neighborhood aims for new image.
January 6, 2005... Byline: Bob Geiger The Minneapolis North Loop Neighborhood Association has hired Minneapolis design firm Little & Co. to develop a new logo and marketing brochure. Association board members voted to keep the name North Loop - a...

Hennepin County seeks service center advertising proposals.
January 6, 2005... Byline: Bob Geiger Hennepin County on Friday will issue a request for proposal (RFP) from local ad agencies to produce advertising that will be displayed on plasma screens at county service centers. County officials hope the ads will...

In disaster zone, MN man's House-in-a-Box could be lifesaver.
January 6, 2005... Byline: Brian Johnson Like other people around the world, Pat Donahue was shocked and saddened by the recent tsunami that killed at least 150,000 people and left millions homeless in Southeast Asia. He also couldn't help but think...

2004 was banner year for real estate investment trusts.
January 6, 2005... Byline: Burl Gilyard The National Association of Real Estate Trusts (NAREIT) reports that REIT stocks gained 30.41 percent in 2004, easily outpacing other market indices for the fifth consecutive year. The NAREIT Composite REIT Index...

Minneapolis-based Campbell Mithun receives The Hartford Financial Services Group Inc.'s account.
January 7, 2005... Byline: Staff Minneapolis ad agency Campbell Mithun received the creative portion of The Hartford Financial Services Group Inc.'s advertising account. The Hartford, Conn.-based company, which plans to spend an estimated $20 million on...

MN Legal Briefs: January 12, 2005.
January 12, 2005... Byline: Bob Geiger In an attempt to distinguish itself as a "new breed of law firm," Minneapolis-based Halleland Lewis Nilan & Johnson later this month will launch an outdoor and airport billboard campaign designed to increase awareness of...

MN-based Analysts International acquires WireSpeed Networks.
January 12, 2005... Byline: Finance & Commerce Staff Analysts International acquired Cincinnati-based WireSpeed Networks, a technology and wireless networking company. Terms of the deal were not disclosed. WireSpeed's assets, employees and service...

Fast-growing startups help drive Twin Cities real estate market.
January 13, 2005... Byline: Burl Gilyard With job growth remaining stagnant, the question often floated in commercial real estate circles is, "Who's going to fill the space?" While the largest corporate users tend to grab the most headlines, some of the...

Minnesota's Capitol shows increasing wear and tear.
January 13, 2005... Byline: Brian Johnson While Minnesota celebrates the Capitol's 100th birthday this year, officials who are responsible for maintaining and preserving the building are asking lawmakers to provide funding that will keep it in good shape for...

St. Paul-based Minnesota Diversified to expand northern operations.
January 13, 2005... Byline: Finance & Commerce Staff St. Paul-based Minnesota Diversified Industries has launched an $8 million capital campaign to expand its Grand Rapids facility, add a second plastics extrusion line and renovate its Hibbing facility. Early...

Minneapolis-based Upland Real Estate completes deals for three Jiffy Lubes.
January 13, 2005... Byline: Finance & Commerce Staff Minneapolis-based Upland Real Estate Group Inc. has sold three Jiffy Lube investment properties in Missouri, Ohio and Texas. The firm sold a 4,073-square-foot Jiffy Lube in St. Peter, Mo., for $12...

Brooklyn Park-based LandCor Cos. adds to sales and leasing staff.
January 13, 2005... Byline: Finance & Commerce Staff LandCor Cos., a Brooklyn Park-based real estate development firm, has added Teresa Tschida to its sales and leasing staff. Tschida will provide sales and leasing services for office, office/warehouse...

Dominium Development plans renovation of Plymouth complex.
January 13, 2005... Byline: Finance & Commerce Staff Dominium Development & Acquisition is planning a $7 million renovation of Willow Wood Estates, a 40-unit, Section 8 townhouse community in Plymouth. The project will include new roofs, patios, siding,...

Projects accountant joins Golden Valley glass-installation firm.
January 13, 2005... Byline: Finance & Commerce Staff Wally Hanas has been hired as a projects accounting expert at Harmon Inc., a Golden Valley firm that specializes in installing building glass. Hanas, who previously worked at Harmon Autoglass in...

Meeting set for $4 million library renovation in Minneapolis.
January 13, 2005... Byline: Finance & Commerce Staff A meeting to update the public on plans for the renovation and redesign of North Regional Library is scheduled for Tuesday, Feb. 1, from 6:30 to 8 p.m. at the library, 1315 Lowry Ave. N. in Minneapolis. ...

Five stockholders named at Minneapolis-based Short Elliott Hendrickson.
January 13, 2005... Byline: Finance & Commerce Staff Minneapolis-based engineering and architectural firm Short Elliott Hendrickson Inc. (SEH) has named five new stockholders, bringing to 90 the number of employees who have achieved that status. Mark...

Chicago REIT sells Northland Plaza in Minneapolis in $43M deal.
January 13, 2005... Byline: Burl Gilyard Equity Office Properties Trust, a publicly traded REIT based in Chicago, has sold the Northland Plaza office building in Bloomington for about $43 million. The tower, at 3800 American Blvd. W., sits at the...

Good timing helps pave the way for Solomon Real Estate Group in Eden Prairie.
January 13, 2005... Byline: Burl Gilyard As a principal at the local office of Cincinnati-based North American Properties, Jay Scott spent the past 5 1/2 years focusing on tenant relationships and development. Patrick Hart has put together more than $450...

Minneapolis-based Hammel Green Abrahamson makes mark with health-care designs.
January 13, 2005... Byline: Brian Johnson Two health-care facilities designed by Minneapolis-based Hammel Green and Abrahamson architects are being recognized for excellence in design and planning. HGA recently took home two 2004 "Modern Healthcare Design...

Feverish retail investing pace may cool down in Twin Cities.
January 13, 2005... Byline: Burl Gilyard Two local commercial real estate experts are predicting the Twin Cities retail investment market will cool off in 2005. "I don't think it will be a slowdown in capital; I think it will be a slowdown in product...

Minneapolis-based ReCon Wall Systems to expand distribution.
January 13, 2005... Byline: Bob Geiger ReCon Wall Systems Inc., a Minneapolis-based manufacturer of retaining walls, has signed a sales and marketing agreement with Minnetonka-based Anchor Block Co. to expand distribution of its interlocking concrete...

Minneapolis-based Riley Hayes Advertising finds home in restored riverfront building.
January 13, 2005... Byline: Bob Geiger Like clockwork, the 102-year-old Minneapolis Eastern Railway Co. engine house at 333 S. First St. keeps gaining attention for the redesign that gave Riley Hayes Advertising employees a new work environment. The...

DLR Group architect named to American Institute of Architects' Minneapolis chapter.
January 14, 2005... Byline: Finance & Commerce Staff Charles Orton, a DLR Group architect who focuses on K-12 educational projects, has been named to the board of the American Institute of Architects' Minneapolis chapter. He will serve a two-year term. ...

Digital Realty Trust purchasing property in Minnesota.
January 14, 2005... Byline: Finance & Commerce Staff Digital Realty Trust Inc. purchased 832,500 square feet of rental property, including one building in the Twin Cities. Digital Realty paid $92 million for properties located on Energy Park Drive in St....

Alliant Techsystems moves fuse production from Wisconsin to West Virginia.
January 15, 2005... Byline: Staff Alliant Techsystems is moving its fuse production operations from Janesville, Wis., to the company's munitions manufacturing center in Rocket Center, W. Va. The move follows the relocation over the past year of the...

MN House and Senate leaders debate gas tax for state transportation.
January 15, 2005... Byline: Charley Shaw Although still supported by Democrats, a proposed gas tax increase to pay for transportation improvements in the state is essentially dead, Minnesota House Speaker Steve Sviggum said Friday. Sviggum, R-Kenyon,...

Minneapolis ad agency Campbell Mithun hires PR agency.
January 15, 2005... Byline: Bob Geiger After 20 years of handling its public relations in-house, Minneapolis ad agency Campbell Mithun has tapped Chicago-based Red Chicago Marketing Solutions Inc. to handle the agency's media relations and related...

MN-based Rottlund Co.'s claim to townhome design doesn't wash in court.
January 20, 2005... Byline: Brian Johnson A popular townhome design was at the center of a recent architectural copyright case that could affect residential builders and designers nationwide. The case, Rottlund Co. v. Pinnacle Corp. et al., revolved...

MN real estate firm pushes ahead after explosion levels offices.
January 20, 2005... Byline: Burl Gilyard All that really remains is the sign out front: "Premier Commercial Properties, A Real Estate Services Company." On the morning of Dec. 28, an explosion leveled the small firm's office at 6131 Highway 10 in Ramsey....

Former Minneapolis feed mill morphs into mixed-use building.
January 20, 2005... Byline: Burl Gilyard With an air temperature outside of 2 degrees below zero, Minneapolis-based Hillcrest Development held an indoor ribbon-cutting ceremony last week to celebrate the redevelopment of 2300 Kennedy Street N.E. in...

Minneapolis-based KKE Architects acquires southwestern architectural firm.
January 20, 2005... Byline: Finance & Commerce Staff Minneapolis-based KKE Architects Inc. has acquired Howard F. Thompson Associates (HFTA), an 18-person architectural firm with offices in Irvine, Calif., and Henderson, Nev. The company recently was...

Green design is subject of Urban Land Institute meeting in Minneapolis.
January 20, 2005... Byline: Finance & Commerce Staff "Making Green Design Pay" will be the topic of a presentation sponsored by the Urban Land Institute on Thursday, Feb. 3. Kevin Flynn, principal and founder of EcoDEEP, an architectural, research and...

U of MN architectural expert to be featured at Sensible Land Use luncheon.
January 20, 2005... Byline: Finance & Commerce Staff University of Minnesota architectural expert Ann Forsyth will be the featured speaker at the Wednesday, Jan. 26, meeting of the Sensible Land Use Coalition. Forsyth, the Dayton Hudson Chair of Urban...

Architectural Alliance of Minneapolis designing Allianz expansion.
January 20, 2005... Byline: Finance & Commerce Staff Architectural Alliance of Minneapolis has been selected to design the expansion of the corporate campus of Golden Valley-based Allianz Life Insurance Company of North America. The project includes about...

Minnesota-Dakotas chapter of Certified Commercial Investment Members names 2005 board.
January 20, 2005... Byline: Finance & Commerce Staff The Minnesota-Dakotas chapter of Certified Commercial Investment Members has elected officers and board members for 2005. Officers are Michael Fleetham, United Properties, president; Michael Houge,...

MN chapter of Nat'l Assn. of Industrial and Office Properties to present awards.
January 20, 2005... Byline: Finance & Commerce Staff The Minnesota chapter of the National Association of Industrial and Office Properties (NAIOP) will present its annual Awards of Excellence on Thursday, Jan. 27. The awards recognize new office,...

Rogers-based Veit Cos. honored for work on Wright County project.
January 20, 2005... Byline: Finance & Commerce Staff Rogers-based Veit Cos. was recognized by the Minnesota chapter of the American Public Works Association for its work on an embankment along Highway 42 in Wright County. The group gave Veit its 2004...

Bloomington-based Colle + McVoy seeking office space, ponders move downtown.
January 20, 2005... Byline: Bob Geiger Bloomington ad agency Colle + McVoy is considering relocating its offices, including a possible move to downtown Minneapolis. Traditionally a suburban ad agency, the 70-year-old ad firm has leased offices in...

MN's Thrivent Financial's new REIT reflects growing investor appetite for property.
January 20, 2005... Byline: Mark Anderson The five-year boom in real estate investment is showing signs of becoming permanent as the industry's performance gains reliability and more investors conclude that real estate - and real estate investment trusts...

Minneapolis rental market takes a step backward.
January 20, 2005... Byline: Burl Gilyard The latest edition of "Apartment Trends" from GVA Marquette Advisors of Minneapolis shows residential rental vacancies climbing back up. GVA reported overall metro apartment vacancies of 7.3 percent at the end of...

Shopping network launching at northeast Minneapolis studios.
January 20, 2005... Byline: Bob Geiger The Twin Cities will be home to yet another television and Internet shopping network after the expected launch of WSS Media Inc. in the former studios of Fox 29 in northeast Minneapolis. WSS Media, which previously...

New owner bringing change to Minneapolis's International Centre.
January 20, 2005... Byline: Mark Anderson In the six months since becoming a downtown Minneapolis landlord, Welsh Cos. has moved steadily forward with its challenging new project - the 613,000-square-foot International Centre towers at Ninth Street and Second...

MN Real Estate Briefs: January 20, 2005.
January 20, 2005... Byline: Burl Gilyard Last week, the Star Tribune broke the news that Arlington, Va.-based Mills Corp. has an agreement to buy Southdale Center, the first enclosed mall in the nation. According to the Star Tribune report, the publicly...

Dolan Media acquires provider of appellate services.
January 21, 2005... Byline: Dolan Media Corporate Staff Minneapolis-based Dolan Media Co., the parent company of Finance and Commerce, announced Thursday that it has acquired New York City-based Counsel Press, the nation's largest provider of appellate...

Eden Prairie man added to MN Construction Assn.'s board of directors.
January 21, 2005... Byline: Finance & Commerce Staff Troy Miller, a principal with DLR Group's Eden Prairie office, has been named to the Minnesota Construction Association's board of directors. He will serve a two-year term. Miller is a member of the...

Maple Plain-based Innovex Inc. adds to board of director.
January 25, 2005... Byline: Finance & Commerce Staff Innovex Inc., a Maple Plain-based manufacturer of electronic devices, announced Monday that the company has added Townsend H. Porter to its board of directors. Porter retired in 2003 as executive vice...

New Minnesota Twins campaign emphasizes statewide appeal of team.
January 26, 2005... Byline: Bob Geiger With the start of spring training just weeks away, the Minnesota Twins have shifted their advertising theme from "Get to know 'em" to "This is Twins territory." Minneapolis ad agency Periscope is finishing work on...

Twin Cities lenders see steady 2005 commercial real estate market.
January 27, 2005... Byline: Mark Anderson Several of the Twin Cities' busiest commercial real estate lenders are watching a development market that has exhibited some deja vu qualities so far this year. "I think 2005 will be pretty similar to last year,"...

Minneapolis property firm gets back to nature with new name.
January 27, 2005... Byline: Bob Geiger Minneapolis-based vacation and residential property company Taylor Investment Corp. has changed its name to Naterra Land to emphasize what company officials call its environmental commitment. The new name combines...

Hiawatha Commons in Minneapolis among projects targeted for cleanup funding.
January 27, 2005... Byline: Brian Johnson A nonprofit housing developer and a local mall owner are teaming up to provide 64 affordable housing units and 13,000 square feet of commercial/retail space at a polluted former industrial site near 28th Street and...

Minneapolis-based Artspace builds a coast-to-coast real estate portfolio.
January 27, 2005... Byline: Burl Gilyard Minneapolis-based Artspace Projects Inc. has become a national player in the arena of nonprofit real estate development. The group's forte is providing affordable live/work spaces for artists, typically in rehabbed...

Developers locking in loans as interest rates inch higher.
January 27, 2005... Byline: Mark Anderson With short-term interest rates finishing a 12-month, 150 basis point ascent and long-term rates likely to start a climb of their own this year, Twin Cities developers are abandoning the floating-interest-rate strategy...

Minneapolis-based Kraus-Anderson Cos. names exec. VP.
January 27, 2005... Byline: Finance & Commerce Staff John (Jack) Schletty has been named executive vice president of Minneapolis-based Kraus-Anderson Companies Inc. Schletty, who serves on the construction company's board of directors and headed its St....

Liberty Property Trust hires Twin Cities leasing associate.
January 27, 2005... Byline: Finance & Commerce Staff Joshua Budish has been hired as a leasing associate at the Eden Prairie office of Liberty Property Trust. Budish previously worked as a property supervisor at Acorn Properties and as an associate agent...

St. Paul's midway retail is subject of community meeting.
January 27, 2005... Byline: Finance & Commerce Staff A community meeting to discuss retail in the Midway area of St. Paul is set for 6:30 tonight at the Brownstone Building, 849 University Ave., in St. Paul. Topics of the meeting will include an online...

Como Park Zoo in St. Paul plans grand opening of visitor center.
January 27, 2005... Byline: Finance & Commerce Staff The first in a series of grand opening events at the new visitor center at the Como Park Zoo and Conservatory in St. Paul will be held Saturday, Feb. 12. The event, set for 10 a.m. to 4 p.m., will...

MN chapter of Institute of Real Estate Management meeting will examine state transportation.
January 27, 2005... Byline: Finance & Commerce Staff Future transportation projects in Minnesota and how they will affect the real estate industry will be the subject of the Tuesday, Feb. 1, meeting of the Minnesota chapter of the Institute of Real Estate...

National Association of Industrial and Office Properties honors projects at Golden Valley event.
January 27, 2005... Byline: Finance & Commerce Staff The Minnesota chapter of the National Association of Industrial and Office Properties will present its annual Awards of Excellence in recognition of new office, industrial and special purpose projects in...

U-Haul opens storage facility in Coon Rapids.
January 27, 2005... Byline: Finance & Commerce Staff U-Haul International Inc. has opened a 52,887-square-foot moving and storage facility at 3401 Coon Rapids Blvd. in Coon Rapids. The self-storage facility features 24-hour video surveillance,...

Wayzata-based H.J. Development shows appetite for unfinished projects.
January 27, 2005... Byline: Burl Gilyard The Wall Street Journal recently reported on an emerging trend amid the voracious investor appetite for real estate assets. As more and more capital chases quality deals, the increased competition helps to push prices...

MN's construction 'legends' recall simpler times.
January 27, 2005... Byline: Brian Johnson Dick Carlson was about 6 years old when he got his first real taste of construction. As Carlson recalled it, he was tagging along with his uncle and father - who were building a road to the family cabin - when he got...

MN Real Estate Briefs: January 27, 2005.
January 27, 2005... Byline: Burl Gilyard The formerly vacant ATRIA Corporate Center, 3033 Campus Drive in Plymouth, is starting to fill up again. Two recently inked leases will fill more than 100,000 square feet in the building. Golden Valley-based...

Minneapolis-based Fallon Worldwide adds Sigrid Olsen to account list.
January 29, 2005... Byline: Bob Geiger Minneapolis-based Fallon Worldwide has been hired to create advertising for Sigrid Olsen, a chain of boutique apparel stores owned by Liz Claiborne Inc. Claiborne hopes to expand Sigrid Olsen nationally to about 50...