Finance and Commerce Daily Newspaper, MN articles from March 2006

Finance and Commerce Daily Newspaper, MN archives from March 2006

Minneapolis-based Marshall BankFirst inks downtown deal.
March 2, 2006... Byline: Burl Gilyard Minneapolis-based Marshall BankFirst Corp. has inked a deal for 57,000 square feet of space at 225 South Sixth in downtown Minneapolis. The firm is currently in Fifth Street Towers, a few blocks north. "We're presently...

Building owners brace for costs of meeting standards of new elevator code.
March 2, 2006... Byline: Burl Gilyard Nobody ever gives much thought to the mundane intricacies of the elevator code, unless there's been an accident. Or unless the new elevator code is going to cost building owners money. The state is preparing to upgrade...

SBA real estate lending had strong year in Twin Cities.
March 2, 2006... Byline: Mark Anderson It's been a year of bitter and sweet for the U.S. Small Business Administration. The agency ended its year under a hurricane-related cloud when its disaster loan fund and staff fell far short of meeting the...

L.J. Melody & Co, First Minnesota Bank complete financing deals.
March 2, 2006... Byline: Mark Anderson The Twin Cities office of L.J. Melody & Co, a financing subsidiary of CB Richard Ellis, closed a couple of substantial loans early this year, and First Minnesota Bank shifted its lending terrain a bit this winter,...

Investment analyst joins the Geneva Organization of Minneapolis.
March 2, 2006... Byline: Finance & Commerce Staff The Geneva Organization of Minneapolis has hired Anders Pesavento as an investment analyst.Pesavento, who graduated last year from the University of Wisconsin with a bachelor's degree in finance and real...

Minneapolis city officials offering workshop for rental property owners.
March 2, 2006... Byline: Finance & Commerce Staff Minneapolis police and housing inspection officials will sponsor a workshop for landlords on Wednesday, March 22.Topics will include the basics of property management, working with housing inspectors,...

Preferred Lending moving offices to Maple Grove.
March 2, 2006... Byline: Finance & Commerce Staff The Preferred Lending mortgage firm has signed a lease for office space at the Maple Ridge Center, Highway 169 and 63rd Avenue in Maple Grove.Preferred Lending plans to move to the building in April from its...

Scott Bryden joins Minneapolis-based Naterra Land as direct marketing manager.
March 2, 2006... Byline: Finance & Commerce Staff Scott Bryden has been named direct marketing manager at Minneapolis-based Naterra Land.Bryden will be responsible for online marketing strategies and support sales for Naterra offices in Minnesota,...

Schoell Madson of Plymouth names president.
March 2, 2006... Byline: Finance & Commerce Staff Scott Harri has been elected president of the Schoell Madson planning, engineering and surveying firm of Plymouth.Harri has more than 30 years of engineering services experience. He previously was client...

Commentary: Number of Minneapolis office buildings going on the market.
March 2, 2006... Byline: Burl Gilyard Hey, bub, wanna buy a building? There's a lot of action in investment circles with a host of downtown Within the last month, three prime downtown properties have gone on the auction block: IDS Center, 225 South Sixth...

Redevelopment proposed for South Lyndale Avenue.
March 2, 2006... Byline: Bob Geiger What started 10 years ago as a neighborhood beautification project on Lyndale Avenue in south Minneapolis has blossomed into a proposed realignment and development project between Minnehaha Creek and Crosstown 62.The...

Minnesota Real Estate Briefs: March 2, 2006.
March 2, 2006... Byline: Bob Geiger The site of a former Chi-Chi's Mexican restaurant at 7717 Nicollet Ave. S. in Richfield will re-open as Jun Bo Chinese Restaurant this month.Jun Bo's bright yellow and red exterior will bring a welcome end to inactivity...

St. Paul-based Bremer Bank Building on the block.
March 2, 2006... Byline: Burl Gilyard The Bremer Bank Building at 360 Cedar St. in downtown St. Paul is for sale. The 42,000-square-foot building is being listed at $4.22 million about $100 per square foot by Nils Snyder and Greg Moltumyr, both senior...

Minnesota Marketing Briefs: March 4, 2006.
March 4, 2006... Byline: Bob Geiger Already taxed by a review of its $100 million H&R Block account, Minneapolis ad agency Campbell Mithun now faces the possible loss of another financial services client, Thrivent Financial for Lutherans.Minneapolis-based...

School projects are at center of PLA (project labor agreements) debate.
March 7, 2006... Byline: Brian Johnson When the Inver Grove Heights School District breaks ground on two major renovation and expansion projects this spring, it will do so without project labor agreements.Project labor agreements essentially, collective...

Minnesota's Lt. Gov. Carol Molnau applauds women contractors.
March 7, 2006... Byline: Brian Johnson Lt. Gov. Carol Molnau sees a bright future for Minnesota's women contractors.Molnau, speaking to a gathering of the Association of Women Contractors in Shoreview last Tuesday, said female-owned construction businesses...

Sherburne County commissioner debates 'creative' approach for project funding.
March 7, 2006... Byline: Brian Johnson A Sherburne County commissioner wants to use two unconventional revenue sources county landfills and jails to assist cities with public building projects that use green building materials. Commissioner Rachel...

Forecast: Weather kind to construction.
March 7, 2006... Byline: Sean Ryan (This article previously appeared in the Daily Reporter, Milwaukee, another Dolan Media publication.) The nationwide bout of friendly weather in 2005 could have both positive and negative impacts on contractors going...

Wal-Mart dispute delays other projects in one Wisconsin town.
March 7, 2006... Byline: Paul Snyder (This article previously appeared in the Daily Reporter, Milwaukee, another Dolan Media publication.) It's been more than three years since Wal-Mart first laid eyes on a piece of land in Jefferson for the site of a...

Job site metal thefts hit their all-time high in Oregon.
March 7, 2006... Byline: Libby Tucker (This story originally appeared in the Daily Journal of Commerce, Portland, Oregon, another Dolan Media publication.) When two men pulled into his scrap yard one Monday morning in September with 500 pounds of...

American Institute of Architects Minnesota announces awards.
March 7, 2006... Byline: Finance and Commerce Staff Kelly Davis of Stillwater-based SALA Architects is the 2006 recipient of the American Institute of Architects Minnesota's "Architect of Distinction" award. The award, created by AIA Minnesota and Midwest...

Mark Fisher joins Bloomington-based Bossardt Corp. as project manager.
March 7, 2006... Byline: Finance and Commerce Staff Bossardt Corp., a Bloomington-based construction management firm, announced that Mark Fisher has joined the company as project manager. Fisher, who has extensive experience in agency construction...

Architectural designer Mic Johnson returns to Ellerbe Becket's Minneapolis office.
March 7, 2006... Byline: Finance and Commerce Staff Mic Johnson has returned to Ellerbe Becket's Minneapolis office after three years as a principal with Minneapolis-based RSP Architects.Johnson has been an architect for 30 years, including 14 with Ellerbe...

Homebuilding steady in February, according to Builders Association of Twin Cities.
March 7, 2006... Byline: Finance and Commerce Staff Residential construction moved along at a "steady pace" last month, according to the Builders Association of the Twin Cities. Twin Cities municipalities issued 542 residential building permits for 872...

Minneapolis-based Short Elliott Hendrickson announces new hires.
March 7, 2006... Byline: Finance and Commerce Staff Del Sheets, a licensed interior designer, has joined Short Elliott Hendrickson's St. Cloud office as a senior architect.Other new hires announced by SEH include Lindsey Roberts and Brandon Twedt (graduate...

Minneapolis-based Sherman Associates plans hotel near Guthrie Theater site.
March 9, 2006... Byline: Burl Gilyard Minneapolis-based Sherman Associates is in talks with Starwood Hotels & Resorts Worldwide Inc. to build a 150-room hotel within a block of the new Guthrie Theater. The hotel is a new element of Sherman's plans for 900...

CSM Corp. puts Rob Dann in charge of 38-hotel portfolio.
March 9, 2006... Byline: Mark Anderson When CSM Corp. chief executive Gary Holmes went looking for someone to head his company's lodging unit last fall, he wasn't looking for a Wall Street asset-manager type. He was looking for a hotel guy, and that's what...

Seattle-based Milliken Development Group unveils downtown Minneapolis project.
March 9, 2006... Byline: Burl Gilyard The Seattle-based Milliken Development Group has unveiled the project name and Web site for its redevelopment of the Downtown Jaguar car dealership at Washington and Hennepin avenues.The project has been dubbed Two...

Commentary: Longtime Minneapolis eatery closes doors.
March 9, 2006... Byline: Burl Gilyard I had a late lunch at Hamlin's Cafe in downtown Minneapolis last week with an old friend.I'd recommend the place for breakfast or lunch, but Hamlin's closed last Friday. I wanted to stop in one last time to pay my...

Bloomington-based Welsh Cos. enters Cincinnati market with 8-building deal.
March 9, 2006... Byline: Mark Anderson Welsh Cos. has completed a hefty deal that marks the Bloomington company's entry into the Cincinnati market.Welsh acquired an industrial and office portfolio of seven buildings, with acquisition of an eighth building...

Minnesota Construction Briefs: March 9, 2006.
March 9, 2006... Byline: Bob Geiger Construction hasn't even started yet on the Revue Flats mixed-use development, but the early reviews of the project have been great.The 116-unit Revue Flats is planned for construction adjacent to the new Guthrie Theater...

Minneapolis Mayor R.T. Rybak goes to bat for stalled Nicollet project.
March 9, 2006... Byline: Bob Geiger The developer of The Nicollet condo tower has enlisted the help of Minneapolis Mayor R.T. Rybak to help persuade people to buy units in the building.Rybak, who last June exhorted those attending a sales kickoff event at...

New management, new name at St. Paul hotels.
March 9, 2006... Byline: Mark Anderson The former St. Paul Radisson Riverfront Hotel has obtained a new brand and new management team in the wake of its sale last November to New York-based Trinity Hotel Investors.The 479-room hotel, at 11 E. Kellogg...

Two executives join Colliers Turley Martin Tucker.
March 9, 2006... Byline: Finance & Commerce Staff Nancy Frykman and Julie Lux have joined the Twin Cities office of Colliers Turley Martin Tucker.Frykman, who has more than 10 years of commercial real estate experience, most recently with the Robert Muir...

Choice Hotels International to hold seminar in the Twin Cities.
March 9, 2006... Byline: Finance & Commerce Staff Choice Hotels International Inc. of Silver Spring, Md., will offer a seminar next week on development opportunities in the lodging industry in the Twin Cities.The event will be held Wednesday from 4:30 to 8...

Minnesota Multi-Housing Association adds Stuart Simek to board.
March 9, 2006... Byline: Finance & Commerce Staff Stuart Simek has been named to the board of directors of the Minnesota Multi-Housing Association.Simek is the president of Meridian Management Inc., a St. Paul-based real estate company that is involved in...

Naterra Land moving northern Minnesota office to Nisswa.
March 9, 2006... Byline: Finance & Commerce Staff Minneapolis-based recreational and residential property developer Naterra Land is moving its northern Minnesota sales office from Brainerd to Nisswa, about 10 miles away.Naterra's two-story,...

Vice president named at Maple Grove-based Hempel Properties.
March 9, 2006... Byline: Finance & Commerce Staff Brent Jacobson has joined Maple Grove-based Hempel Properties as a vice president.He will oversee the leasing of properties in the Hempel portfolio and will execute the firm's acquisition strategy in the...

Minneapolis-based nonprofit housing group celebrating 20 years.
March 9, 2006... Byline: Finance & Commerce Staff Central Community Housing Trust (CCHT), a Minneapolis-based nonprofit provider of affordable housing, is celebrating its 20th anniversary.The history and future of the group will be examined during its...

Minnesota Marketing Briefs: March 11, 2006.
March 11, 2006... Byline: Bob Geiger The New York office of Deutsche Bank last year forecast a 20 percent slash in newspaper ad spending by Federated Department Stores Inc. after it acquired Marshall Field's owner May Department Stores Co.But Twin Cities...

Panelists at Assn. of Women Contractors event discuss the state of women in construction.
March 14, 2006... Byline: Brian Johnson Susan Denk got her first taste of the construction industry in 1979, when she landed a summer job with a building contractor in San Antonio, Texas. "The first job I had was sorting a pile of scrap lumber," recalled...

Expert warns of rising construction costs.
March 14, 2006... Byline: Brian Johnson When Gulf Coast reconstruction begins in earnest presumably by the third quarter of this year the building industry should brace for double-digit cost increases and tightening labor supplies through 2008, according...

MN's lieutenant governor pitches $2.5 billion transportation funding plan.
March 14, 2006... Byline: Brian Johnson Lt. Gov. Carol Molnau says the state is in a "catch-up mode" when it comes to transportation. "We did nothing for so long, that we really need to keep going," Molnau told a group of women contractors last month. "We...

Cement shortages boosting sales of fly ash additive in Upper Midwest.
March 14, 2006... Byline: Brian Johnson Fly ash sales are increasing in the Upper Midwest, according to Minnesota-based Great River Energy, a nonprofit electric cooperative that produces fly ash at its Coal Creek Station near Underwood, N.D. In 2005, Coal...

Construction investigators part of growing sector.
March 14, 2006... Byline: Libby Tucker (This story originally appeared in the Daily Journal of Commerce, Portland, Ore., another Dolan Media publication.)The marks appeared like mysterious halos. Perfect green circles were scattered like a fungal ring toss...

Construction inflation adds to problems in New Orleans.
March 14, 2006... Byline: Deon Roberts (This story originally appeared in New Orleans CityBusiness, another Dolan Media publication.)Trey Cefalu is feeling the pinch of rising construction costs.Cefalu, developer of the $45-million, 25-story Vantage Tower...

Minneapolis-based Cuningham Group adds office in Las Vegas market.
March 14, 2006... Byline: Finance and Commerce Staff Minneapolis-based Cuningham Group Architecture has opened an office in Las Vegas.The firm has worked in the Las Vegas region for several years with such clients as Harrah's Entertainment Inc. and the...

Minnesota Construction Association to tour hotel, water park site.
March 14, 2006... Byline: Finance and Commerce Staff The Minnesota Construction Association will visit the Grand Lodge and Water Park of America construction site for its March 29 program.Carl Rinta and Eric Thomsen of Adolfson & Peterson Construction will...

Shingobee Builders names two project managers.
March 14, 2006... Byline: Finance and Commerce Staff Shingobee Builders Inc., a commercial construction and development company based in Loretto, has hired Robert Sedey and Edward Dehmer as project managers.Sedey, who has a degree in civil engineering from...

Ten cities qualify for Minnesota DEED grants.
March 14, 2006... Byline: Finance and Commerce Staff The Minnesota Department of Employment and Economic Development is helping 10 cities in out-state Minnesota with their efforts to redevelop blighted properties. The cities of Aitkin, Duluth, Goodview,...

Minneapolis-based Shea adds three to design staff.
March 14, 2006... Byline: Finance and Commerce Staff Shea, a Minneapolis-based marketing and design firm, has added three employees to its design staff. The new employees are Jennifer Fornengo (interior designer), Amy Barthel (graphic/environmental...

Commentary: Kirby Puckett Stadium?
March 14, 2006... Byline: Brian Johnson One of the curious subplots in the sad story of Kirby Puckett's untimely death is its potential impact on the never-ending Twins stadium debate.Last week, local media quoted Senate majority leader Dean Johnson as...

Island Station project in St. Paul in foreclosure.
March 16, 2006... Byline: Burl Gilyard Lenders have foreclosed on the troubled Island Station condominium project in St. Paul, creating what a broker says will be an opportunity for a new developer to complete the project.Burnsville-based Breckner River...

Gateway project helps transform blighted site in south Minneapolis.
March 16, 2006... Byline: Mark Anderson A pair of nonprofit partners this winter kicked off the second stage of their ambitious effort to rebuild a historic but stubbornly blighted intersection in south Minneapolis.The Jourdain, a 41-unit affordable...

MInneapolis and St. Paul real estate firms partner to offer new twist in TIC investing.
March 16, 2006... Byline: Burl Gilyard Minneapolis-based Upland Real Estate Group Inc. has built a reputation as a syndicator of tenants in common (TIC) real estate investments, particularly triple-net lease commercial properties. St. Paul-based Real Estate...

Small businesses get boost from mutual fund assets.
March 16, 2006... Byline: Mark Anderson Frank Altman and the Minneapolis-based Community Reinvestment Fund that he leads took another step this winter to give small businesses more access to the nation's capital markets. In late February, Altman and CRF...

Auction set for First National Bank Building in downtown St. Paul.
March 16, 2006... Byline: Burl Gilyard A sheriff's sale has been set for the First National Bank Building in downtown St. Paul on May 8.The 662,845-square-foot building known for its giant red-lit No. 1 that is a visible feature on the downtown skyline at...

Hennepin County plans aerial mapping of buildings.
March 16, 2006... Byline: Bob Geiger Hennepin County is upgrading emergency preparedness by spending about $400,000 for a program to map every real estate parcel with high-resolution aerial digital images.County officials believe the computer-based software...

Construction underway on University Flats condominium project near UM campus.
March 16, 2006... Byline: Burl Gilyard Construction is under way on the University Flats condominium project at 2600 University Ave. S.E. near the University of Minnesota campus. The site previously was home to a 51-room Best Western motel, which ceased...

Minneapolis public relations firm Maccabee Group lands account.
March 16, 2006... Byline: Finance and Commerce Staff Architectural Alliance, a Minneapolis firm that has helped design such projects as the new Guthrie Theater and the Minneapolis Central Public Library, has hired a public relations firm to raise its...

Zygi Wilf featured at Minneapolis Building Owners & Managers Association meeting.
March 16, 2006... Byline: Finance and Commerce Staff Minnesota Vikings owner and real estate developer Zygi Wilf will be the featured speaker at the annual meeting of the Minneapolis Building Owners & Managers Association on Thursday, April 20.The event...

High-performance buildings are topic at Greater Minneapolis Building Owners & Managers Assn. meeting.
March 16, 2006... Byline: Finance and Commerce Staff Joel Schurke, founding partner and principal at Intep LLC, will talk about high-performance buildings at the Wednesday, March 29, suburban meeting of the Greater Minneapolis Building Owners & Managers...

BWBR Architects of St. Paul gives promotions.
March 16, 2006... Byline: Finance and Commerce Staff Stephen Patrick has been named president and CEO of BWBR Architects of St. Paul, replacing C. Jay Sleiter.Patrick joined the firm in 1981, was named a principal in 1991 and joined its board of directors...

Design-build group honors Minnesota state Rep. Mike Beard.
March 16, 2006... Byline: Finance and Commerce Staff State Rep. Mike Beard, R-Shakopee, received a legislative achievement award from the Design-Build Institute of America for his work in advancing design-build contracts in Minnesota.In 2005, Beard worked...

Maple Grove-based Hempel Properties hires Sara Malin.
March 16, 2006... Byline: Finance and Commerce Staff Maple Grove-based Hempel Properties has hired Sara Malin as development manager. She will be responsible for managing the firm's property development in the Twin Cities from the acquisition to the...

Brookings Institute fellow to speak to MN chapter of national real estate organization.
March 16, 2006... Byline: Finance and Commerce Staff Anthony Downs, a senior fellow at the Brookings Institute in Washington, D.C., will be the guest speaker at the monthly breakfast meeting of the Minnesota chapter of the National Association of Industrial...

Minnesota Marketing Briefs: March 18, 2006.
March 18, 2006... Byline: Bob Geiger Kerry Feuerman, whose creative credentials include advertising for Saab, the U.S. Army and Quiznos Sub, has joined Fallon Worldwide as creative director of the agency's Minneapolis office.Feuerman joins Fallon from...

'Tear down' trend worries Edina, other communities.
March 21, 2006... Byline: Brian Johnson To some extent, residential redevelopment in Edina and other inner-ring suburbs could be likened to a classic Johnny Cash song: It's happening one piece at a time. It's the phenomenon where a homebuyer acquires an...

MN Dept. of Transportation pursues exemption for its crane operators.
March 21, 2006... Byline: Brian Johnson The Minnesota Department of Transportation wants state lawmakers to excuse MnDOT employees from a new crane operator certification law that was championed by another state agency last year. In 2005, the Minnesota...

Bill proposed by MN lawmaker would force builders to honor claims on warranties.
March 21, 2006... Byline: Charley Shaw A proposed bill would address a conflict in state law that is proving costly for some home owners who bring warranty claims against their home builders.Rep. Barb Goodwin, DFL-Columbia Heights, wants home builders to...

Wisconsin bill requires builders to receive continuing education.
March 21, 2006... Byline: Joe Grundle (This story originally appeared in The Daily Reporter, Milwaukee, WI, another Dolan Media publication.)Don't be surprised to see Wisconsin home builders put down nail guns and pick up textbooks, as the Legislature now...

Construction moves along on Pine County Courthouse.
March 21, 2006... Byline: Brian Johnson Justice has been meted out at a variety of places in Pine County, including two 19th-century buildings that later succumbed to fire, a box-like former city hall and a $160,000 structure that rose up in the 1950s....

Minnesota House panel reviewing annexation policies.
March 21, 2006... Byline: Charley Shaw (This story originally appeared in the St. Paul Legal Ledger, another Dolan Media publication.)The House Local Government Committee is mulling changes to annexation policy and legislation and plans to address the...

Construction to begin on power plant in Cambridge.
March 21, 2006... Byline: Finance and Commerce Staff Great River Energy, an Elk River-based energy cooperative, was set to break ground this week on a natural gas-fired power generation facility new Cambridge. The 170-megawatt Cambridge Station will provide...

Golden Valley-based M.A. Mortenson names chief estimator.
March 21, 2006... Byline: Finance and Commerce Staff Clark Taylor has been promoted to chief estimator at Golden Valley-based M.A. Mortenson Co.Taylor, who has a bachelor's degree in construction engineering from Iowa State University in Ames, Iowa, joined...

St. Paul-based Howard R. Green to design roundabouts for MN Department of Transportation.
March 21, 2006... Byline: Finance and Commerce Staff The Minnesota Department of Transportation has selected Howard R. Green Co. to perform design work for three multilane roundabouts on Highway 169 in Eden Prairie. St. Paul-based HRG will work with MnDOT...

Two employees join St. Paul office of Mohagen/Hansen.
March 21, 2006... Byline: Finance and Commerce Staff Mohagen/Hansen Architectural Group has added two people at its St. Paul office.Jennifer Kaplan will serve as an architect and project manager. Jeanine Gunderson joined the office as an intern architect....

Shingobee Builders honored for Como Town Amusement Park project in St. Paul.
March 21, 2006... Byline: Finance and Commerce Staff Shingobee Builders Inc. of Loretto received a National Award of Merit from Associated Builders and Contractors for its work on the Como Town Amusement Park project in St. Paul.Project manager Lynn...

Pharmacy business is booming in Twin Cities area.
March 23, 2006... Byline: Burl Gilyard At the beginning of 2004, there were no CVS/pharmacy stores in the Twin Cities. The name of the Woonsocket, R.I.-based chain likely meant little to the average local consumer. Today, there are 17 CVS stores across the...

Minnesota jumps on the hotel-and-condo wave.
March 23, 2006... Byline: Mark Anderson One of the most robust trends in hotel development projects that combine high-end hotels with residential condos is making an impact in Minnesota.Four hotel-and-condo projects are in various stages of planning or...

Twin Cities hotel market remains robust.
March 23, 2006... Byline: Mark Anderson The Twin Cities hotel market continued to enjoy a nice tailwind during the second half of 2005, finishing the year with occupancy rates more than 2 percent above 2004 and average daily rates up by 6.4 percent,...

Albertville Crossing sold to Kansas City development firm.
March 23, 2006... Byline: Burl Gilyard Kansas City-based development firm Copaken, White & Blitt has purchased the Albertville Crossing retail center for an undisclosed price for one of its income funds. Bob Pounds, senior vice president, and Tim Prinsen,...

REIT mega-deal boosts Twin Cities presence of Public Storage Inc.
March 23, 2006... Byline: Burl Gilyard Early March saw the merger of two self-storage REITs. Glendale, Calif.-based Public Storage Inc. bought Seattle-based Shurgard Storage Centers Inc. in a deal valued at $5 billion, including the assumption of debt....

Real estate firms increasingly look to Web.
March 23, 2006... Byline: Bob Geiger Real estate companies increasingly are promoting their wares online and focusing conventional advertising on Web-related home shopping.Edina Realty is the latest company to launch an ad campaign that, in part, pays...