Finance and Commerce Daily Newspaper, MN articles from June 2006

Finance and Commerce Daily Newspaper, MN archives from June 2006

Hotel in St. Paul being proposed.
June 1, 2006... Byline: Bill Clements Morrissey Hospitality Cos., manager of the St. Paul Hotel, wants to build and operate a new mid-market hotel along the University Avenue frontage of the planned SuperTarget in St. Paul.Bill Morrissey, president of St....

Target vs. transit-oriented development in St. Paul.
June 1, 2006... Byline: Bill Clements In the hallway outside the St. Paul City Council chambers on May 24 -- after the council had approved plans for a SuperTarget in the Midway neighborhood -- no one admitted to being happy about the deal.Council member...

Developers set their sights on Bloomington.
June 1, 2006... Byline: Mark Anderson Along with downtown Minneapolis, where six hotels are either proposed or under construction, Bloomington continues to be the hottest local market for the recovering hotel sector.Summit Hotel Group of Sioux Falls,...

Rochester building sells for $36.88M.
June 1, 2006... Byline: Burl Gilyard A national real estate investment firm has snapped up a Minnesota medical office property for $180 per square foot. The transaction even warranted a brief mention in the Wall Street Journal last week. But the deal...

Minneapolis developer Baylor chosen as Lourey's running mate.
June 1, 2006... Byline: Burl Gilyard Gubernatorial candidate Becky Lourey tapped Tim Baylor, founder and president of Minneapolis-based JADT Development Group, as her running mate. Lourey, a DFL state senator from Kerrick, made the announcement at the...

Minneapolis-based developer sticks with successful formula.
June 1, 2006... Byline: Mark Anderson If an idea works, stick with it. That evergreen advice probably played a role in Master Development Group's decision to start its next project, the redevelopment of a 60,000-square-foot industrial property in...

Student 'lofts' planned for former warehouse near University of Minnesota.
June 1, 2006... Byline: Bob Geiger St. Paul-based Crowe Construction Management Inc. has acquired an 89-year-old building near the University of Minnesota and will begin renovating the ex-railroad warehouse into 23 student apartments this month.The 2...

New publication in Minneapolis goes after high-end home buyers.
June 1, 2006... Byline: Bob Geiger The Minneapolis Star Tribune has started publishing a bimonthly magazine named MARQ, a publication distributed primarily by home delivery to upper-income households.A play on the word "marquis," MARQ premiered on May 21...

Ramsey County eyeing building in downtown St. Paul.
June 1, 2006... Byline: Burl Gilyard At the beginning of February, Ramsey County issued a request for proposals seeking 66,000 square feet of space for a five- or 10-year lease deal in downtown St. Paul. The county's Department of Property Records and...

Commentary: Avoiding the bull's-eye.
June 1, 2006... Byline: Burl Gilyard Any event featuring anyone at all from Minneapolis-based Target Corp. anywhere near a microphone is bound to draw a few reporters. That's what drew me and some of my fourth estate colleagues to the monthly Minnesota...

Eden Prairie-based Swanson Flo-Systems signs lease at Carlson Business Center.
June 1, 2006... Byline: Finance & Commerce Staff Swanson Flo-Systems, a supplier of valves, actuation, instruments, controls, systems and specialty process equipment, has signed a lease for 32,000 square feet of space at the Carlson Business Center.Larry...

Plymouth industrial center sold for $12.25M.
June 1, 2006... Byline: Finance & Commerce Staff Baceline Investments LLC of Denver has purchased the five-building Westpoint Business Center in Plymouth for $12.25 million from First Industrial Realty Trust of Chicago.The 161,304-square-foot industrial...

Grand opening set for Elliot Park Commons in downtown Minneapolis.
June 1, 2006... Byline: Finance & Commerce Staff A grand opening celebration will be held next Wednesday for the renovated Elliot Park Commons, a 25-unit affordable-housing complex at 610 E. 15th St. in downtown Minneapolis.The event, which will be held...

Eden Prairie office of Liberty Property Trust names senior property manager.
June 1, 2006... Byline: Finance & Commerce Staff Gina Bystedt has been promoted to senior property manager at the Eden Prairie office of Liberty Property Trust, a real estate investment trust based in Malvern, Pa.Bystedt will oversee a 4...

Minnesota Marketing Briefs: June 3, 2006.
June 3, 2006... Byline: Bob Geiger Minneapolis ad agency Olson has lost its Golden Valley-based Allianz Life Insurance Company of North America ad account after winning a client that competes in the same field.Last month, Olson won a $10 million account...

Founder of new MN nonprofit organization wants to "build lives, not prisons.".
June 6, 2006... Byline: Brian Johnson Fred Myers isn't the kind of person who will ride quietly into the sunset. Just three years after "retiring" as president of Rebuild Resources, a St. Paul-based nonprofit organization that provides job training and...

Heppelmann to succeed Schwartz at BOR-SON Construction.
June 6, 2006... Byline: F&C Staff Report BOR-SON Construction Inc. of Bloomington announced the retirement of President and CEO Raymond Schwartz. Gary Heppelmann, executive vice president, will replace Schwartz, who was with the company for 40 years....

Two join St. Paul office of Howard R. Green.
June 6, 2006... Byline: F&C Staff Report Dave Haught has been named senior field technician and Christine Sadler was hired as office manager at the St. Paul office of Howard R. Green Co. Haught has experience in the construction of water and sewer...

Linwood Park opens in Albertville development.
June 6, 2006... Byline: F&C Staff Report Linwood Park in the Towne Lakes residential neighborhood of Albertville was dedicated last Saturday.The new 6.3-acre city park is located on West Laketowne Drive, east of Highway 19 and north of the Outlets of...

Pfeifer joins Minneapolis-based UrbanWorks architectural firm.
June 6, 2006... Byline: F&C Staff Report Wesley Pfeifer has been hired as an architect at Minneapolis-based UrbanWorks Architecture.Pfeifer, a graduate of North Dakota State University, has nine years of professional experience in architecture in the Twin...

Wisconsin tightens regulations on 'impact fees'.
June 6, 2006... Byline: Paul Snyder (This story originally appeared in the Daily Reporter, Milwaukee, WI, another Dolan Media publication.) Wisconsin Gov. Jim Doyle has signed a law that requires impact fees imposed on new development to be fair and...

Design-build gains acceptance in Idaho.
June 6, 2006... Byline: Brad Carlson (This article was originally published in the Idaho Business Review, Boise, ID, another Dolan Media-owned publication.) The design-build alternative to traditional construction bidding can save time and money -- in...

OK bill would limit liability of general contractors.
June 6, 2006... Byline: Janice Francis-Smith (This story originally appeared in the Journal Record, Oklahoma City, another Dolan Media publication.) A bill to limit general contractors' liability was approved by the Oklahoma Senate and is headed for...

Restaurateur's financial problems leave plans for Minneapolis eatery in limbo.
June 8, 2006... Byline: Burl Gilyard The Stimson Building, at 700 Hennepin Ave. in downtown Minneapolis, has long been a tricky redevelopment problem for city officials. Now there's a fresh wrinkle. Local media reported last week on the financial troubles...

Three local developers -- each with their own proposed project -- think the time is right to build a hotel in the Uptown area.
June 8, 2006... Byline: Mark Anderson The Uptown area of Minneapolis has been one of the Twin Cities' favorite playgrounds and residential and commercial communities for the better part of a century.But you would be hard-pressed to find anyone who can...

Greco Real Estate Development breaks the mold with Uptown plans.
June 8, 2006... Byline: Mark Anderson Greco Real Estate Development's proposed 3.6-acre redevelopment at the Lyn-Lake intersection in south Minneapolis would add an eastern bookend to a string of mixed-use redevelopments that have been transforming the...

Northstar Center in Minneapolis sold in real estate mega-deal.
June 8, 2006... Byline: Burl Gilyard The Northstar Center in downtown Minneapolis will change hands after New York-based Brookfield Properties Corp. announced an $8.9 billion deal on Monday to acquire Chicago-based Trizec Properties Inc. and Trizec Canada...

Metropolitan Council chairman says Central Corridor project needs to go on a 'diet'.
June 8, 2006... Byline: Bill Clements As the Central Corridor project moves into the hands of the Metropolitan Council, the group's chair, Peter Bell, is worried about balancing project cost with public input."You cannot listen [to suggestions from the...

Commentary: Old Minneapolis Sears store finally redeveloped into mixed-use project.
June 8, 2006... Byline: Burl Gilyard I'm old enough to remember when the old Sears store on Lake Street in south Minneapolis was still a Sears store, not a big, empty building awaiting redevelopment. I have vague recollections of a trip to the store with...

Minneapolis panel approves condo project at Aqua City site.
June 8, 2006... Byline: Bob Geiger The Minneapolis Planning Commission has approved a 51-unit condominium project on the Aqua City Motel site in a move that could signal the launch of new development along Lyndale Avenue between Minnehaha Creek and...

Officials debate next step after Wayzata project collapses.
June 8, 2006... Byline: Mark Anderson Everybody's being as congenial as possible about the collapse announced last week of the year-old $100 million redevelopment proposal for the Wayzata Bay Shopping Center. But the frustration still leaks out in...

Minnesota isn't just a player, but a leader in the bioscience industry.
June 8, 2006... Byline: Michael Krieger Inside a secure and sophisticated wet lab at University Enterprise Laboratories, Gel-Del Technologies is quietly manipulating proteins to simulate the body's own tissue.Like many bioscience companies in the St. Paul...

No breaks for biotech in Minnesota.
June 8, 2006... Byline: Michael Krieger It's the billion-dollar question everyone's asking: How do you attract biotech?All 50 states, in as many ways, are wooing profitable, high-paying biotech companies. Some believe tax incentives are an effective lure,...

St. Paul BOMA golf tourney set for July 24.
June 8, 2006... Byline: Finance & Commerce Staff The St. Paul chapter of the Building Owners & Managers Association (BOMA) will sponsor its 20th annual golf tournament on Monday, July 24.The event will be held at the Tartan Park Golf Course in Lake Elmo,...

Norwood Young America plans groundbreaking.
June 8, 2006... Byline: Finance & Commerce Staff Norwood Young America will break ground on Monday, June 26, on a 60-acre industrial park at Highway 212 and Tacoma Avenue. The Tacoma West Industrial Park will target light manufacturers, construction...

Liberty Property Trust completes Minnesota lease deals.
June 8, 2006... Byline: Finance & Commerce Staff Pennsylvania-based Liberty Property Trust said recent lease deals helped three of its Twin Cities buildings reach 100 percent occupancy.The three buildings are at 590 Oakdale Interstate Center in Oakdale,...

Minnesota Marketing Briefs: June 10, 2006.
June 10, 2006... Byline: Bob Geiger Blue Cross Blue Shield of Minnesota is consolidating $12 million to $14 million in advertising that was previously handled by two agencies.The health-care provider, which serves 2.7 million members, is parting with its...

St. Paul architectural firm applies tools and techniques of "lean" design to health care facilities.
June 13, 2006... Byline: Michael Krieger Black belts and spaghetti diagrams are becoming a common sight in the halls of BWBR Architects.The St. Paul firm, which specializes in health care, has started incorporating the tools and techniques of "lean" design...

American Engineering Testing of St. Paul named firm of the year.
June 13, 2006... Byline: Finance and Commerce Staff American Engineering Testing Inc. of St. Paul has been named 2006 firm of the year by the Minnesota chapter of the American Council of Engineering Companies.The award is presented annually to the firm that...

Builders Association of the Twin Cities names first two 'Bob' winners.
June 13, 2006... Byline: Finance and Commerce Staff The Builders Association of the Twin Cities (BATC) has created two new annual awards to honor Bob Hanson, the group's executive vice president who plans to retire at the end of the year after nearly 30...

Minneapolis lawyer headlines MN Construction Association meeting.
June 13, 2006... Byline: Finance and Commerce Staff Patrick Lee-O'Halloran, a shareholder in the Fabyanske, Westra, Hart & Thomson law firm of Minneapolis, will be the guest speaker at the June breakfast meeting of the Minnesota Construction Association...

Parade of Ponds in the Twin Cities planned for two July weekends.
June 13, 2006... Byline: Finance and Commerce Staff More than 100 Twin Cities water gardens will be open to the public during the annual Parade of Ponds on the weekends of July 22-23 and July 29-30.Water gardens will be open from 10 a.m. to 5 p.m. on each...

Amherst H. Wilder Foundation breaks ground on St. Paul headquarters.
June 13, 2006... Byline: Finance and Commerce Staff The Amherst H. Wilder Foundation broke ground on Monday on a 100,000-square-foot headquarters at Lexington Parkway and University Avenue in St. Paul. Officials said the new $35 million Wilder Center will...

Birds make their presence felt on Wis. construction projects.
June 13, 2006... Byline: Joe Grundle (This story originally appeared in the Daily Reporter, Milwaukee, another Dolan Media publication.) While it hasn't reached Hitchcockian proportions just yet, the birds are making their presences felt on...

Brokers find smaller deals always in the pipeline.
June 15, 2006... Byline: Burl Gilyard Small lease deals don't grab headlines. But for brokers, the smaller meat-and-potatoes deals are the lifeblood of the business. While leases for large blocks of space are few and far between, small deals -- whether for...

New study of parking capacity along University Avenue in St. Paul finds excess parking.
June 15, 2006... Byline: Bill Clements A new study of parking capacity along University Avenue in St. Paul confirms what observation suggests: There's too much parking in that busy corridor.Even during peak parking-demand periods, many spots in off-street...

Central Corridor: Time for a name change?
June 15, 2006... Byline: Bill Clements Brian McMahon, head of University United, thinks the name of the Central Corridor light-rail transit project should be changed to better reflect its location along University Avenue."We believe this term offers little...

Starwood Hotels and Resorts Worldwide plans conversion of Twin Cities' historic Foshay Tower.
June 15, 2006... Byline: Bob Geiger Starwood Hotels and Resorts Worldwide Inc. is broadening its Twin Cities presence -- this time with a planned conversion of the historic Foshay Tower into a boutique W Hotel.A source familiar with the project said the...

NBA City ads on downtown Minneapolis sidewalks generate controversy.
June 15, 2006... Byline: Bob Geiger About 120 chalk signs on downtown Minneapolis sidewalks advertising "Hoopla Hour" at the NBA City sports bar/restaurant violate a city statute against posting promotional materials on public surfaces.The signs,...

Industrial vacancies fall in NAIOP survey.
June 15, 2006... Byline: Burl Gilyard The local industrial market has absorbed 2.11 million square feet of space in the last year. That's good news for the market, but absorption was notably slowed from the pace of 3.61 million square feet in the previous...

Condo market in Minneapolis continues to cool.
June 15, 2006... Byline: Burl Gilyard The condo market continues to cool for local developers. As interest rates have climbed, the pace of sales has slowed and the inventory of available units on the market has ballooned. Many projects are still...

Deal is off for Carmichael Lynch Building in downtown Minneapolis.
June 15, 2006... Byline: Bob Geiger The Carmichael Lynch Building in downtown Minneapolis is for sale again after a prospective buyer and the broker for the owner ended negotiations.Steve Eriksson, founder and president of Eriksson Commercial Real Estate...

Federal tax credit program helps spur projects in challenging areas.
June 15, 2006... Byline: Mark Anderson The U.S. Dept. of Treasury delivered a nest egg for commercial property developers working in the nation's poorest communities on June 1, announcing a $4.1 billion allocation for New Markets Tax Credits. Those credits...

Bloomington's International Plaza for sale.
June 15, 2006... Byline: Burl Gilyard International Plaza, a 276,000-square-foot office tower in Bloomington, has hit the auction block. Eden Prairie-based Northstar Partners is brokering the sale for the owner, Metropolitan Life Insurance Co. "Our...

Meeting of real estate organizations in Eagan, MN, to examine spec development.
June 15, 2006... Byline: Finance and Commerce Staff The Minnesota-Dakotas Chapter of Certified Commercial Investment Members (CCIM) and the Mid-Continent Chapter of the Society of Industrial and Office Realtors (SIOR) will hold a joint meeting on Thursday,...

Minneapolis-based CSM Lodging captures four Mariott awards.
June 15, 2006... Byline: Finance and Commerce Staff Minneapolis-based CSM Lodging was recognized with four awards from the Marriott International hotel chain.Dar Johnston, director of revenue management, won the Revenue Management Leadership Award for...

Grand opening planned for Inspiration project in Bayport, MN.
June 15, 2006... Byline: Finance and Commerce Staff A grand opening celebration will be held at the site of the Inspiration housing project, 1215 Inspiration Parkway S., in Bayport on Saturday, June 24.The event, dubbed the Party in the Prairie, will run...

Former St. Paul Mayor Randy Kelly named to architectural and planning board.
June 15, 2006... Byline: Finance and Commerce Staff Former St. Paul Mayor Randy Kelly was appointed by Gov. Tim Pawlenty on Tuesday to the Capitol Area Architectural and Planning Board. Kelly, of St. Paul, has more than 30 years of experience as an elected...

Staff of the Minnesota office of Liberty Property Trust donates time for two landscaping projects.
June 15, 2006... Byline: Finance and Commerce Staff The staff of the Minnesota office of Liberty Property Trust will volunteer time on Friday to make improvements at two houses in Golden Valley.The volunteers will provide landscaping at the houses, which...

Blue Cross Blue Shield signs Eagandale lease.
June 15, 2006... Byline: Finance and Commerce Staff Blue Cross Blue Shield has signed a 3-year lease for the remaining 53,772 square feet of office space at the Eagandale Tech Center at 1303 Corporate Center Drive in Eagan.Mike Salmen and Mike Honsa of...

Explore Minnesota takes different path.
June 17, 2006... Byline: Bob Geiger Explore Minnesota Tourism has hired Minneapolis ad agency Clarity Coverdale Fury in an unexpected defeat for Bloomington firm Colle + McVoy, which has handled the state's $4 million account for the last five years.Bob...

Burnsville company offers system to help builders comply with new law.
June 20, 2006... Byline: Brian Johnson A small Burnsville company sees opportunity in the state's new "opportunity to repair" law. The company, Warranty Management Technologies, offers a software system that's designed to enhance communication between...

University of Minnesota stadium designer knows football.
June 20, 2006... Byline: Brian Johnson From X's and O's to blueprints and elevations, Scott Radecic knows his way around a football field. Radecic played college football for one of the most storied programs in the country, Penn State, before embarking on...

Bloomington Central Station condo tour planned.
June 20, 2006... Byline: Finance and Commerce Staff The Upper Midwest Chapter of the Design-Build Institute of America is featuring a tour of the Reflections at Bloomington Central Station condominium development. The tour, scheduled for July 19 at the...

Michael Koalska joins DLR Group.
June 20, 2006... Byline: Finance and Commerce Staff Michael Koalska has joined DLR Group as director of business development for the public sector. Koalska, who has 15 years of experience in sales management and marketing, will be responsible for reaching...

Builders Outreach Foundation completes St. Paul's Frogtown project.
June 20, 2006... Byline: Finance and Commerce Staff The Builders Outreach Foundation is celebrating the completion of its latest affordable home in St. Paul's Frogtown neighborhood. The three-bedroom home, built by Bruggeman Homes, is part of an effort to...

St. Croix River Crossing project under review by MD Dept. of Transportation.
June 20, 2006... Byline: Finance and Commerce Staff The Minnesota and Wisconsin departments of transportation are distributing an updated environmental impact document for the proposed St. Croix River Crossing project. The document, known as the 2006...

Graves unearthed at WI construction site.
June 20, 2006... Byline: Sean Ryan (This article originally appeared in The Daily Reporter, Milwaukee, WI, another Dolan Media publication.) They were buried about one or two feet deep in coffins, with their heads facing west and their feet pointed...

FEMA grants to help with post-Katrina clean up.
June 20, 2006... Byline: CityBusiness Staff Report (This story originally appeared in New Orleans CityBusiness, another Dolan Media publication.) Sen. Mary Landrieu, D-New Orleans, announced the U.S. Department of Homeland Security's Federal Emergency...

New Orleans construction jobs lower than expected.
June 20, 2006... Byline: CityBusiness Staff Report (This story originally appeared in New Orleans CityBusiness, another Dolan Media publication.) Louisiana still is not a "construction magnet" for workers around the country, despite the widespread...

Indianapolis-based Duke Realty Corp. flexes its development muscle in Twin Cities.
June 22, 2006... Byline: Burl Gilyard Duke Realty Corp. has two metro sites under contract for industrial development, including a 137-acre Lakeville parcel that it plans to develop into 1.5 million square feet of space. The second project is in Afton,...

Franklin face-off in Minneapolis' Seward neighborhood.
June 22, 2006... Byline: Bill Clements A 3.85-acre site that's home to a machine shop in Minneapolis' Seward neighborhood has become ground zero in a development tug-of-war that pits the past against the future. Ground zero is Bystrom Bros., 2200 S....

Hiawatha Line in Minneapolis proves to be a magnet for housing.
June 22, 2006... Byline: Bill Clements New housing development alongside the Hiawatha Line light-rail transit (LRT) system continues to surge, Minneapolis officials say. "The city's been blessed with the Hiawatha LRT line, as our development numbers...

City of Minneapolis unloading nine parking ramps.
June 22, 2006... Byline: Bill Clements Minneapolis is selling nine of its 24 downtown parking ramps, in part to generate cash to lift the city's parking fund out of the red. Emily Stern, senior project coordinator in charge of the sales for the city...

Canterbury runs the numbers on future development in Shakopee.
June 22, 2006... Byline: Burl Gilyard National housing developer K. Hovnanian Homes recently made an unsolicited offer for the nearly 400 acres of land sitting under Canterbury Park racetrack in Shakopee. Randy Sampson, president and CEO of the Canterbury...

Nonprofit shifts financing strategy with Prior Lake project.
June 22, 2006... Byline: Mark Anderson The development arm of Presbyterian Homes and Services is partnering with a Prior Lake church on a comprehensive senior housing project -- an effort that marks a turning point in Presbyterian's financing cycle. The...

Minnesota group to spend $4M for roads campaign.
June 22, 2006... Byline: Bob Geiger A consortium of construction and business interests is planning a $4 million marketing campaign to promote increased spending for Minnesota highway construction and transportation projects. Minnesotans for Better Roads...

Lander scraps '38' condos in favor of retail-office plan in south Minneapolis.
June 22, 2006... Byline: Bob Geiger An increasingly competitive market has forced Lander Group Inc. to abandon plans for a 41-unit condo project at 38th Street and Nicollet Avenue in south Minneapolis. The Minneapolis developer said it will reposition the...

Northeast Minneapolis getting its own Red Square.
June 22, 2006... Byline: Burl Gilyard The former General Metalware industrial warehouse in northeast Minneapolis burned in 1990. Hennepin County acquired the site through tax forfeiture in 1993. Since then, the site at 1401 Central Ave. N.E. has attracted...

Minneapolis office of Colliers Turley Martin Tucker adds two staffers.
June 22, 2006... Byline: Finance & Commerce Staff Two new employees have been hired at the local office of Colliers Turley Martin Tucker. Julie Yeazle was named senior associate, specializing in medical office projects in the west and southwest metro...

Maple Grove-based Hempel Properties adds Doleman to executive team.
June 22, 2006... Byline: Finance & Commerce Staff Valerie Doleman has joined Maple Grove-based Hempel Properties as the firm's vice president of marketing. Doleman has more than 10 years of real estate marketing experience. She previously worked for a real...

MN Commercial Real Estate Women honors outstanding projects, individuals.
June 22, 2006... Byline: Finance & Commerce Staff Minnesota Commercial Real Estate Women recently recognized outstanding deals and members. The following were recognized for the Networking Deal of the Year: Kim Cameron, Art Partners Group; Marlene...

Shopping center group in Minneapolis sets meeting for July 12.
June 22, 2006... Byline: Finance & Commerce Staff Thomas Winninger will be the guest speaker at the July meeting of the Minnesota Shopping Center Association. Winninger, who is the founder of the Winninger Institute for Market Strategy and the author of...

Minneapolis-based Naterra Land names development manager at Brainerd office.
June 22, 2006... Byline: Finance & Commerce Staff Ben Schmidt is the new development manager at the Brainerd office of Minneapolis-based Naterra Land. Schmidt, who previously was a vice president at Darrel A. Farr Development, will oversee the development...