Finance and Commerce Daily Newspaper, MN articles from July 2006

Finance and Commerce Daily Newspaper, MN archives from July 2006

Minnesota Marketing Briefs: July 1, 2006.
July 1, 2006... Byline: Bob Geiger Jack Supple, chairman of Carmichael Lynch, is leaving the 300-employee ad agency on July 31 after 27 years at the firm. Supple joined Minneapolis-based Carmichael Lynch (CL) in 1979 as a junior copywriter, creating ads...

MN Dept. of Transportation still hopes to get Crosstown reconstruction project back out for bids.
July 5, 2006... Byline: Brian Johnson The Minnesota Department of Transportation still hopes to award the Crosstown reconstruction project this construction season, even though the project failed to draw any bidders last month. "The goal of MnDOT is to...

American Swedish Institute project to begin in September in Minneapolis.
July 5, 2006... Byline: Brian Johnson The American Swedish Institute plans to begin construction this September on its new "festival grounds" and parking area, part of an ambitious plan to expand and improve its space on the 2600 block of Park Avenue in...

M.A. Mortenson's Minnesota office celebrates diversity of project types.
July 5, 2006... Byline: Brian Johnson M.A. Mortenson's new Minnesota office leader says the firm won't neglect its smaller projects, even as it takes a run at high-profile work such as stadium projects for the Minnesota Twins and University of Minnesota....

Habitat for Humanity building spree draws critics.
July 5, 2006... Byline: Dawn Wotapka Hardesty (This article originally appeared in the Long Island Business News, Long Island, N.Y., another Dolan Media publication.) Mohamed Elbaroudy and Zeina Rayes were living in a cramped one-bedroom Farmingdale...

AGC economist: New Orleans not cause of labor shortage.
July 5, 2006... Byline: Angelle Bergeron (This article originally appeared in New Orleans CityBusiness, another Dolan Media publication.) Debris removal and reconstruction that still remain in the aftermath of Hurricanes Katrina and Rita are not...

Minnesota Ballpark Authority sets first meeting.
July 5, 2006... Byline: F&C Staff Report The newly created Minnesota Ballpark Authority will meet for the first time this Friday at the Minnesota Sports Facilities Commission meeting room in the Metrodome. The meeting, scheduled for 1 to 3 p.m., will...

St. Paul-based TKDA executive retires after 27 years at firm.
July 5, 2006... Byline: F&C Staff Report Richard Sobiech, president and CEO of St. Paul-based engineering, architecture and planning firm TKDA, retired from the firm, effective last Saturday. Sobiech, who will remain board chairman through the end of the...

St. Paul-based Brock White acquires Canadian firm.
July 5, 2006... Byline: F&C Staff Report A subsidiary of Brock White Co., a St. Paul-based distributor of construction materials, has acquired Manstar Distributors Ltd. of Edmonton and Calgary, Alberta, Canada. Company officials in St. Paul declined to...

Minnesota Department of Transportation presents open house on intelligent compaction.
July 6, 2006... Byline: F&C Staff Report The Minnesota Department of Transportation will hold two open houses this month to demonstrate a new technology that's designed to improve road performance. The technology, known as "intelligent compaction,"...

Danish firm announces move to north Minneapolis.
July 6, 2006... Byline: Burl Gilyard Copenhagen-based health-care firm Coloplast is relocating its U.S. operations to the Twin Cities, with plans to occupy 500,000 square feet at its facility along West River Road in north Minneapolis. Coloplast, whose...

St. Paul resident Seitu Jones to design public art that enhances Minneapolis development projects.
July 6, 2006... Byline: Bill Clements Minneapolis is conducting a $60,000 experiment, hoping that an artist can survive well enough in the buttoned-down world of government bureaucracy to design public art that enhances development projects. Starting July...

Deal is in motion for sale of Parkway Theatre in south Minneapolis.
July 6, 2006... Byline: Burl Gilyard The owners of Pepitos restaurant in south Minneapolis have a contract to purchase the adjacent Parkway Theatre cinema in a deal that would allow the Parkway to continue as an entertainment facility. Pepitos owner Joe...

Two Minneapolis real estate veterans leave Griffin Cos. to form their own firm.
July 6, 2006... Byline: Burl Gilyard It's a safe bet that the newly minted TaTonka Real Estate Advisors is the only local real estate firm to feature a quote from 1970s rock star Ted Nugent on its Web site. "TaTonka, the mighty American buffalo, is a...

Two new stations are in the works for Hiawatha Line light-rail transit system in Minneapolis.
July 6, 2006... Byline: Bill Clements Depending on how you look at it, the Hiawatha Line light-rail system will gain a new first stop or a new final stop in Minneapolis by 2009. And Bloomington will get another light-rail transit (LRT) station sometime...

Minnesota Building in downtown St. Paul is among recipients of cleanup grant.
July 6, 2006... Byline: Burl Gilyard The vacant Minnesota Building in downtown St. Paul will receive $379,800 for asbestos and lead-based paint abatement thanks to the latest round of Livable Communities grants awarded by the Metropolitan Council. The...

Condo campaign pitches new Minnesota Twins stadium.
July 6, 2006... Byline: Bob Geiger A condo developer is pitching the delights of being near the new Minnesota Twins stadium -- four years before the $522 million ballpark is expected to open. Print ads with the headlines "Home Run!" and "Walk to the Game"...

Promotion, new hire named at Bloomington office of CB Richard Ellis.
July 6, 2006... Byline: Finance and Commerce Staff One executive has been promoted at the Bloomington office of CB Richard Ellis, while another has rejoined the firm after five years at another local company. Steve Lehr, who joined CB Richard Ellis in...

Andersen Corp. of Bayport buys New Jersey firm.
July 6, 2006... Byline: Finance and Commerce Staff Andersen Corp. of Bayport has acquired Silver Line Building Products Corp., a North Brunswick, N.J., firm that specializes in making vinyl windows and patio doors. Terms of the deal for the family-owned...

Geneva Organization real estate firm of Minneapolis completes sale of Bloomington shopping center.
July 6, 2006... Byline: Finance and Commerce Staff The Geneva Organization real estate firm of Minneapolis has completed the sale of a shopping center in Bloomington. Geneva sold the 56,330-square-foot Village Square Shopping Center at 79th Street and...

Minnesota regional forums planned on housing, community development.
July 6, 2006... Byline: Finance and Commerce Staff Five regional forums this summer will give Minnesotans an opportunity to influence state funding decisions on several housing and community development programs administered by three state agencies....

Minnetonka firm hires exec to serve MNCREW, CoreNet Global.
July 6, 2006... Byline: Finance and Commerce Staff Jacki Pillatzki has joined Minnetonka-based IntrinXec Management Inc. as an account executive -- a position that will include serving as executive director of Minnesota Commercial Real Estate Women...

Minneapolis-based Short Elliott Hendrickson announces five new hires.
July 6, 2006... Byline: Finance and Commerce Staff Five people have joined offices within the central region of the Minneapolis-based Short Elliott Hendrickson architectural and engineering firm. Jessica Werder is working in the St. Paul office as an...

Downtown Minneapolis landmark Peter's Grill closes.
July 7, 2006... Byline: Burl Gilyard Peter's Grill, a vintage Minneapolis restaurant that has been a downtown institution since 1914, has closed, the apparent victim of financial problems. Peter's Grill co-owner Cyril Davies, who bought the restaurant in...

Twenty-five years and counting: Fallon Worldwide publishes showcase of its work.
July 8, 2006... Byline: Bob Geiger With the 25th anniversary of ad agency Fallon Worldwide swiftly approaching, the firm that transformed Minneapolis from flyover land to a hub of creativity is publishing a showcase of its work. Titled simply "The Work:...

Design-build firm completes impressive array of projects in and around Buffalo, MN.
July 11, 2006... Byline: Brian Johnson When Pete Nelson perused a weekly business newspaper's list of the fastest-growing companies in the state recently, he realized that something was amiss. His own business, Buffalo-based Nelson Building and Development...

Particles standard creates controversy between builders and regulators.
July 11, 2006... Byline: Brian Johnson A national homebuilders group is at loggerheads with the federal Environmental Protection Agency over an EPA proposal to reduce construction dust in urban areas. The EPA proposal would toughen air quality standards...

MN groups seek to draft bill merging construction codes, licensing.
July 11, 2006... Byline: Charley Shaw (This story previously appeared in the St. Paul Legal Ledger, St. Paul, MN, another Dolan Media publication.) Minnesota labor and industry officials are hoping to find a compromise this summer on legislation that...

Colorado Springs developers eye resort.
July 11, 2006... Byline: Becky Hurley (This story originally appeared in the Colorado Springs Business Journal, another Dolan Media publication.) It's the dawning of a new age for one of the city's most prestigious resort developments. After 50 years...

Experts say there is a lot of wiggle room in whether office space is categorized Class A, B, or C.
July 11, 2006... Byline: Kennedy Smith (This story originally appeared in the Daily Journal of Commerce, Portland, Ore., another Dolan Media publication.) ODS Tower, Bank of America Financial Center, Pacwest Center, Fox Tower--they're Portland's cream...

Tall towers to make Baltimore twice as nice.
July 11, 2006... Byline: Jen Degregorio (This story originally appeared in The Daily Record, Baltimore, MD, another Dolan Media publication.) Investors once afraid to dip so much as a toe into the Baltimore real estate market are now plunging in with...

Braun Intertec of Bloomington names project managers.
July 11, 2006... Byline: Finance and Commerce Staff Two engineers have been named project managers at Braun Intertec Corp. of Bloomington. Daniel Mahrt previously was manager of geotechnical engineering and a project engineer for Terracon Consultants in...

HGA Architects and Engineers of Minneapolis adds Barnes to staff.
July 11, 2006... Byline: Finance and Commerce Staff Debra Barnes has joined HGA Architects and Engineers of Minneapolis as an associate vice president and director of interior architecture and design. Barnes has 18 years of experience, including the past...

Gerster promoted to president of Minneapolis-based KKE Architects.
July 11, 2006... Byline: Finance and Commerce Staff Tom Gerster has been named president of Minneapolis-based KKE Architects, replacing Greg Hollenkamp, who will remain as CEO of the firm. Gerster, who joined KKE in 1981 and was named principal in 1988,...

Minneapolis-based Kraus-Anderson makes U.S. Top 50.
July 11, 2006... Byline: Finance and Commerce Staff Kraus-Anderson Construction Company, one of the Midwest's largest commercial general contractors and construction managers, continues to grow. According to the current edition of Engineering News Record,...

Construction to begin on Superfund site in Minnesota.
July 11, 2006... Byline: Finance and Commerce Staff Officials will break ground this week on the Highway 7 Corporate Center project on a former Superfund pollution site in St. Louis Park. The ceremony will be held at 10 a.m. on Thursday at the National...

'Tepid' employment report reflects construction split.
July 11, 2006... Byline: Finance and Commerce Staff "A tepid construction job report in June reflected the mix of a hot nonresidential construction job market with a fast-cooling residential scene," Ken Simonson, chief economist for the Associated General...

Office market gets a little chilly in the 2nd quarter.
July 13, 2006... Byline: Burl Gilyard No matter how you slice it, the second quarter was not stellar for the local office market, according to a composite sketch from two industry reports. Colliers Turley Martin Tucker reported second quarter numbers...

Minneapolis-based AREA meant to be unique real estate firm.
July 13, 2006... Byline: Burl Gilyard The first thing you notice when you walk into the offices of AREA is the flashy yellow motorcycle in the reception area. Then you see the colorful orange walls and the large flat-screen TV. The message comes across...

Camp Coldwater Spring: Sacred land or potential office park?
July 13, 2006... Byline: Bill Clements Many consider Camp Coldwater Spring to be the birthplace of Minnesota. During the 19th century, soldiers camped next to the spring during the three years it took to construct Fort Snelling. The spring remains the...

Denver-based Baceline Investments brings cash philosophy to the Twin Cities.
July 13, 2006... Byline: Mark Anderson A new investor in the Twin Cities' industrial-retail real estate sector is finding success with a financing approach that runs counter to the conventional wisdom. The unusual strategy? Three-year-old, Denver-based...

Finance and Commerce names 2006 Innovators of the Year.
July 13, 2006... Byline: Michael Krieger A global marketplace requires creative products and solutions to fuel the next generation of entrepreneurship. And whether providing new ways of connecting people or helping to save lives, Minnesota continuously...

Residential brownstone in Minneapolis being converted into office space.
July 13, 2006... Byline: Burl Gilyard Over the last few years, it was common to see aging commercial buildings getting converted into residential condos. But today the condo market has cooled, and this calls for something a little different. Now on...

Kamper Brands in Minneapolis separates advertising, real estate units.
July 13, 2006... Byline: Bob Geiger One year after moving to Minneapolis, Kamper Brand's advertising and real estate services units have moved to separate downtown locations as the agency pursues a still-evolving business plan. "I'm trying to make that...

Rogers-based Veit Companies chooses tough approach to re-branding.
July 13, 2006... Byline: Bob Geiger Demolition has never looked neater. After sporting more than 20 different logos, Rogers-based Veit Companies has redesigned its corporate logo and introduced a marketing campaign picturing employees with a "Bring it on"...

Small-town firm in MN embraces development.
July 13, 2006... Byline: Mark Anderson As Shingobee Builders, Inc., steadily expands its role as a developer, its executives will also be expanding the time they spend looking for ways to fund a growing roster of projects. The Loretto, Minn.-based real...

Penfield condo project in St. Paul gets unique ads.
July 13, 2006... Byline: Bob Geiger Alatus Partners this week debuted its first print advertising for The Penfield, an upcoming 40-story glass-and-steel condominium tower in St. Paul. The color half-page ads appear in the Downtown Journal and other daily...

Edina-based Coldwell Banker Burnet hires new V.P.
July 13, 2006... Byline: Finance & Commerce Staff Coldwell Banker Burnet has hired local real estate leader Ken Johnson as vice president of business development. Johnson has worked in the Twin Cities real estate industry for 38 years, beginning in sales at...

Partners buy Chicago-based Grubb & Ellis/Northco brokerage.
July 13, 2006... Byline: Finance & Commerce Staff Grubb & Ellis/Northco Real Estate Services has been acquired by a local investment group headed by Frank Jermusek and Walt Van Heest. Van Heest had been senior vice president at Grubb & Ellis/Northco....

New Minnesota Ballpark Authority meets, elects officers.
July 13, 2006... Byline: Finance & Commerce Staff The Minnesota Ballpark Authority elected officials and approved resolutions at its initial meeting on July 7. Created by the 2006 Minnesota Legislature, the authority is a five-member political unit...

Minneapolis office of Colliers Turley Martin Tucker adds three new staffers.
July 13, 2006... Byline: Finance & Commerce Staff The Minneapolis office of Colliers Turley Martin Tucker announced the addition of three new staffers. Chris Braun and Kari Brolsma joined the real estate management services division, and William Buckley...

Minneapolis office of CRESA Partners adds Dave Hill as senior advisor.
July 13, 2006... Byline: Finance & Commerce Staff The Minneapolis office of CRESA Partners has hired Dave Hill as a senior advisor. Hill brings 25 years of project management experience in commercial real estate to CRESA. His resume includes working for...

Minneapolis office of CTMT to lease, manage Loring Corners.
July 13, 2006... Byline: Finance & Commerce Staff The Minneapolis office of Colliers Turley Martin Tucker (CTMT) has taken over management and leasing of Loring Corners, two office buildings between Hennepin Avenue and Loring Park at the edge of downtown...

$4.3M in DEED cleanup grants awarded to eight MN communities.
July 13, 2006... Byline: Finance & Commerce Staff The Minnesota Department of Employment and Economic Development (DEED) has awarded more than $4.3 million to eight Minnesota communities to clean up and redevelop contaminated sites. The grants were awarded...

Rasmussen College inks deal at United's Eagle Point Business Park in Lake Elmo.
July 13, 2006... Byline: Finance & Commerce Staff Rasmussen College has signed a 20,000 square foot lease with United Properties for a build-to-suit project in United's Eagle Point Business Park in Lake Elmo. United Properties will also be the general...

Thirteen Minneapolis-area retail centers sold in mega-deal.
July 13, 2006... Byline: Finance & Commerce Staff The Har Mar Mall in Roseville, The Hub in Richfield and Westwind Plaza in Minnetonka are among the local retail properties that will change hands in the wake of the latest major real estate buyout. Centro...

Coloplast taps MN-based United Properties Corporate Solutions for real estate planning.
July 13, 2006... Byline: Finance & Commerce Staff United Properties Corporate Solutions, a division of the Bloomington-based United Properties, has been selected by the Danish firm Coloplast to provide real estate strategy, planning and management services...

NAIOP, MN chapter, to present panel discussion on mixed-use real estate development.(Discussion)
July 13, 2006... Byline: Finance & Commerce Staff NAIOP, the National Association of Industrial and Office Properties, Minnesota Chapter, will present a panel discussion on the challenges and opportunities in mixed-use real estate development in the Twin...

Minneapolis ad agency Periscope, Cadmus enter joint venture.
July 15, 2006... Byline: Bob Geiger In a move that establishes an Asian beachhead for Minneapolis ad agency Periscope, the firm has formed a joint venture with Richmond, Va.-based Cadmus Communications to create package design and printing services for...

Kevin Goodno to establish lobbying unit in Minneapolis law firm.
July 15, 2006... Byline: Charley Shaw Kevin Goodno, who has been a lawyer, politician and bureaucrat, is about to join another profession often in the crosshairs of public esteem: lobbyist. "All those professions get a lot of jokes about them," said...

Developers plan to combine three clusters of housing in Chaska with an equestrian facility.
July 18, 2006... Byline: Brian Johnson Can horses and houses co-exist? Developers David and Rachel Igel hope so. Doing business as Green Space LLC, the married couple plans to combine three clusters of housing with an equestrian facility on a pristine...

Sticker shock takes toll on Farmington High School project.
July 18, 2006... Byline: Brian Johnson A land-use dispute involving the proposed Farmington High School project has been settled, but delays related to the dispute have driven up the project's costs, forcing the school district to modify its construction...

MN construction attorney reminds contractors that a submitted bid can be a binding contract.
July 18, 2006... Byline: Brian Johnson A local construction attorney is reminding contractors to make sure they know what they are getting into when they offer to perform work, because a submitted bid can become just as binding as a signed contract....

Remains of the city's roads lie crumpled at Sunderland Yard in Northeast Portland.
July 18, 2006... Byline: Libby Tucker (This story previously appeared in the Daily Journal of Commerce, Portland, Ore., another Dolan Media publication.) Massive chunks of concrete lie on a slab near piles of oily black asphalt grindings at Sunderland...

Minnesota Ballpark Authority seeks executive director.
July 18, 2006... Byline: Finance and Commerce Staff The Minnesota Ballpark Authority is seeking candidates for the position of executive director. The director will oversee day-to-day administration of the five-member authority, which is charged with...

Deteriorated pipe forces repair of Highway 10 by MN Dept. of Transportation.
July 18, 2006... Byline: Finance and Commerce Staff An emergency repair project reduced traffic to a single lane last week on westbound Highway 10 near the weigh station in Ramsey, according to the Minnesota Department of Transportation. The repair became...

Atherton to lead Minneapolis-based KKE's West Coast Hospitality group.
July 18, 2006... Byline: Finance and Commerce Staff A.C. Atherton, an experienced designer of recreational facilities, is the new head of KKE Architects' West Coast Hospitality group. Atherton has more than 20 years of experience in resorts and spas,...

New library planned for Plymouth, Minnesota.
July 18, 2006... Byline: Finance and Commerce Staff The Hennepin County Board approved plans last week to build a new library near the existing county library at 15700 36th Ave. N. in Plymouth. The 30,000-square-foot library, scheduled to open in 2009,...

David Jackson joins The Staubach Co.'s Minneapolis office.
July 18, 2006... Byline: Finance and Commerce Staff Local construction executive David Jackson is the new president of design and construction for The Staubach Co. Jackson has 27 years of experience in construction and real estate. In his new role, he will...

St. Paul's United Hospital positions for growth.
July 20, 2006... Byline: Mark Anderson United Properties announced in late June that it would spend $3.8 million on a face-lift for its part of the rapidly evolving United Hospital campus, located just west of downtown St. Paul. The Bloomington firm's...

Rehab of 28 abandoned buildings carries hefty price tag.
July 20, 2006... Byline: Bill Clements The cost to rehabilitate the 28 abandoned buildings on the historic 141-acre Upper Bluff portion of Fort Snelling has risen 40 percent in the last eight years to as much as $65 million, according to a new report....

Hennepin County officials study other fort redevelopments.
July 20, 2006... Byline: Bill Clements Hennepin County officials are preparing a report on several redeveloped military sites they have visited across the country to learn about possible reuses of the Upper Bluff. The report will include details about Fort...

Former Retek building in Minneapolis up for sale.
July 20, 2006... Byline: Burl Gilyard 50 South 10th Street, formerly known as the Retek on the Mall building, has hit the auction block. "It's literally just getting to the market," said Bruce Miller, managing director with Chicago-based Jones Lang...

Apartment vacancies continue to dip in Minneapolis.
July 20, 2006... Byline: Burl Gilyard Apartment vacancy has dropped below 5 percent, generally considered the point of equilibrium in the rental housing market. The latest numbers from GVA Marquette Advisors in Minneapolis show local apartment vacancy...

Group proposes interim zoning rules on light-rail transit route.
July 20, 2006... Byline: Bill Clements Community group University United wants St. Paul to put temporary land-use controls in place along the planned light-rail transit route on University Avenue to avoid projects not friendly to transit-oriented...

Medical office projects on a feverish pace in Twin Cities.
July 20, 2006... Byline: Burl Gilyard The medical office market is booming in the Twin Cities, with about 835,000 square feet of new space currently under construction. In total, 1.9 million square feet of medical office space is under construction,...

Southgate Office Plaza in Bloomington for sale.
July 20, 2006... Byline: Burl Gilyard The Southgate Office Plaza in Bloomington has hit the market. The Class B office building, which sits at the southeast quadrant of Interstate 494 and Highway 100, offers 207,000 square feet of space. Bob Pounds, senior...

The Nicollet looks for jump-start from new sales team.
July 20, 2006... Byline: Bob Geiger Same development. New real estate broker. The Nicollet, the planned 56-story condominium tower in downtown Minneapolis, has named Edina Realty as its exclusive listings broker after the resignation of Minneapolis-based...

Aug. 10 is BOMA Night at Saints game.
July 20, 2006... Byline: Finance & Commerce Staff The St. Paul chapter of the Building Owners & Managers Association (BOMA) will sponsor BOMA Night at a St. Paul Saints baseball game on Thursday, Aug. 10. Activities will be held at Saints Stadium, 1771...

Bloomington-based Braun Intertec Corp. adds industrial hygienist.
July 20, 2006... Byline: Finance & Commerce Staff Bloomington-based Braun Intertec Corp. has hired Julie Taylor, an industrial hygienist who will focus on occupational health and safety. She will manage indoor air quality investigations, fungal evaluations,...

Minneapolis-based GVA Marquette Capital completes two hotel deals.
July 20, 2006... Byline: Finance & Commerce Staff Minneapolis-based GVA Marquette Advisors recently announced midyear results for its new hotel financing business, including one deal that was a whopper. In January, GVA created GVA Marquette Capital to...

Twin Cities metro population grows 6.4 percent in five years.
July 20, 2006... Byline: Finance & Commerce Staff The seven-county Twin Cities metro area added 168,117 people -- the equivalent of two Bloomingtons -- between 2000 and 2005, bringing the region's population to 2.81 million, according to figures released...

NAIOP meeting to examine mixed-use development.
July 20, 2006... Byline: Finance & Commerce Staff The challenges and opportunities of mixed-use development will be the topic of the next meeting of the Minnesota chapter of the National Association of Industrial and Office Properties. The meeting will be...

Group wants Union Depot kept in Central Corridor light-rail project project.
July 20, 2006... Byline: Finance & Commerce Staff The LOCATE Task Force delivered a strong message to the Metropolitan Council this week: Don't remove the Union Depot from the $930 million Central Corridor light-rail project. The 23-member regional task...