Finance and Commerce Daily Newspaper, MN articles from May 2006

Finance and Commerce Daily Newspaper, MN archives from May 2006

Guthrie Theater on Vineland Place in Minneapolis to close.
May 3, 2006... Byline: Bill Clements The king is dead. Long live the king! On Sunday, after 43 years, the lights will dim for the final time on the famous thrust stage of the Ralph Rapson-designed Guthrie Theater on Vineland Place in Minneapolis. While...

U.S. Bank Center in St. Paul sells for $53.2M.
May 4, 2006... Byline: Burl Gilyard Los Angeles-based Griffin Capital closed last week on the purchase of the U.S. Bank Center, 101 E. Fifth St., in downtown St. Paul for $53.2 million. Griffin bought the property on behalf of 32 tenants-in-common (TIC)...

Eminent domain threatens Eagan, Hugo redevelopments.
May 4, 2006... Byline: Mark Anderson Minnesota legislators didn't even need to pass a final eminent domain reform bill to send a chill through a couple Twin Cities redevelopment efforts. A conference committee is now working on a compromise version of...

Minneapolis interior design firm has major ad campaign in works.
May 4, 2006... Byline: Bob Geiger After receiving kudos for its design efforts, Minneapolis commercial and residential interior design firm Gunkelman Flesher Inc. has hired Maple Grove ad agency Fat Frog Marketing to help reach prospective customers on...

Office valuations in downtown Minneapolis continue to climb.
May 4, 2006... Byline: Burl Gilyard Happy days are here again? Office valuations in downtown Minneapolis continue to climb, thanks to improving vacancy and recent investment sale activity. The Minneapolis Building Owners & Managers Association (BOMA)...

New competitor checks into Minnesota hotel market.
May 4, 2006... Byline: Mark Anderson The Summit Hotel Group is finally visiting its neighbors. The Sioux Falls, S.D.-based hotel investor and operator has during its 16-year history built up a portfolio of 63 limited-service, extended-stay properties in...

St. Paul City Council member leads charge to protect Schmidt brewery.
May 4, 2006... Byline: Bill Clements Dave Thune doesn't want anyone messing with the Jacob Schmidt Brewery.The St. Paul City Council member for Ward 2, which includes the 151-year-old brewery, has fashioned an interim city ordinance declaring a...

Bloomington-based United Properties hires executive for office brokerage unit.
May 4, 2006... Byline: Finance & Commerce Staff Jeff Hart has been named vice president at the office brokerage division of Bloomington-based United Properties.Hart, who has more than 16 years of commercial real estate experience, will focus on tenant and...

Beyond Bricks & Mortar fundraiser set for May 17.
May 4, 2006... Byline: Finance & Commerce Staff Minneapolis-based nonprofit Central Community Housing Trust will hold its annual Beyond Bricks & Mortar fundraising event on Wednesday, May 17.About 700 people are expected to attend the event, which will...

Dara Rudick named head of Minnesota Commercial Assn. of Realtor.
May 4, 2006... Byline: Finance & Commerce Staff Dara Rudick is the new executive director of the 1,300-member Minnesota Commercial Association of Realtors (MNCAR).Rudick, who will lead a staff of six people, will be responsible for overseeing day-to-day...

Minnesota Commercial Assn. of Realtors names officers, board members.
May 4, 2006... Byline: Finance & Commerce Staff The Minnesota Commercial Association of Realtors (MNCAR) has announced officers and board members.New officers are president, Dan Gleason, United Properties; president-elect, Kevin O'Neill, NAI Welsh;...

Socratic Method to be explored at real estate seminar.
May 4, 2006... Byline: Finance & Commerce Staff What would Socrates do? The Minnesota Commercial Association of Realtors (MNCAR) and the Society of Industrial and Office Realtors (SIOR) will explore that question as it relates to commercial real estate...

Certified Commercial Investment Members meeting will look at Burnsville project.
May 4, 2006... Byline: Finance & Commerce Staff The Heart of the City project in Burnsville will be the subject of a meeting of the Minnesota-Dakotas chapter of Certified Commercial Investment Members (CCIM).The event is set for Thursday, May 11, at...

Minnesota Marketing Briefs: May 6, 2006.
May 6, 2006... Byline: Bob Geiger In the end, Campbell Mithun didn't get Block knocked off its client roster.That's Block, as in Kansas City, Mo.-based tax and financial services company H&R Block -- a client that since 2000 has spent about $100 million...

Property tax rebate: Is it good policy or political pandering?
May 8, 2006... Byline: Charley Shaw Several state representatives found themselves on the opposite side of their leaders on a vote last week that would provide a property tax rebate to homeowners.The bill, which passed 86-47 in the House, would send out...

MN's plumbing industry doggedly lobbies state legislature for expanded licensing.
May 9, 2006... Byline: Brian Johnson Like a persistent drip from a broken kitchen faucet, Minnesota's plumbing industry has doggedly lobbied the Legislature to require all plumbing contractors to be licensed -- including those who operate in small towns....

MN Dept. of Transportation gets good marks for design-build concept.
May 9, 2006... Byline: Brian Johnson Tweak it but don't break it.That's the message behind a new survey regarding the state transportation department's experiment with design-build contracting, an alternative project delivery method that aims to speed up...

Designers and engineers show can-do attitude at Oregon event.
May 9, 2006... Byline: Alison Ryan (This story originally appeared in the Daily Journal of Commerce, Portland, Ore., another Dolan Media publication.) Where casual grocery shoppers see peas, beets and corn, the designers and engineers competing in...

Minneapolis office of SmithGroup names principal.
May 9, 2006... Byline: F&C Staff Report Marianne O'Brien has been named a principal at the Minneapolis office of the SmithGroup architectural, engineering, interior and planning firm.O'Brien, who previously directed the national higher education practice...

Minneapolis-based Kraus-Anderson promotes Stark to project manager.
May 9, 2006... Byline: F&C Staff Report David Stark has been named project manager at Minneapolis-based Kraus-Anderson Construction Co.He previously was an assistant project manager with Kraus-Anderson, working on the Northern Quest Casino project in...

Minneapolis-based Durrant Group wins support for Rosemount library.
May 9, 2006... Byline: F&C Staff Report The Dakota County Board of Commissioners has given preliminary approval for an architect to design a new library in Rosemount.The board awarded the design contract to The Durrant Group, an architectural and...

Bank opens in converted office building in Eden Prairie.
May 9, 2006... Byline: F&C Staff Report First Western Bank recently opened for business in a converted office building at 100 Prairie Center Dr. in Eden Prairie.The conversion project, designed by Minneapolis-based Shea, added a drive-up facility and...

C.H. Carpenter closes two lumberyards, consolidates its MN operations.
May 9, 2006... Byline: F&C Staff Report C.H. Carpenter Lumber has closed its lumberyards in Victoria and Shakopee and consolidated Minnesota operations to Lakeville.Steve Hastings, CEO of the 88-year-old firm, said the move will make the Lakeville...

Elementary schools in New Prague district taking shape.
May 9, 2006... Byline: F&C Staff Report Construction is progressing on two new elementary schools in the growing New Prague district. Raven Stream Elementary, under construction in New Prague, and Eagle View Elementary, under construction in New Market,...

Minneapolis-based Bowman and Brooke renews, expands at Fifth Street Towers.
May 11, 2006... Byline: Burl Gilyard The Minneapolis-based law firm of Bowman and Brooke LLP has renewed its lease and expanded its presence at Fifth Street Towers in downtown Minneapolis, inking a long-term deal for nearly 59,000 square feet. The firm is...

Fridley-based Medtronic leases 120,000 square feet at Atria Corporate Center.
May 11, 2006... Byline: Burl Gilyard Fridley-based Medtronic Inc. has signed a lease for about 120,000 square feet at the Atria Corporate Center in Plymouth. The major deal caps a strong turnaround for the 351,000-square-foot property. "That lease and...

Preservation Alliance of Minnesota seeks tax credit to help save historic buildings.
May 11, 2006... Byline: Burl Gilyard The Palace Hotel in the northwestern Minnesota city of Crookston is a vestige of another era. The four-story building opened in the 1890s when the Red River Valley hamlet was a busy railroad town. Today, the venerable...

Minneapolis-based Target and St. Paul officials disagree over plan to build store in Midway.
May 11, 2006... Byline: Bill Clements St. Paul Mayor Chris Coleman wants a proposed SuperTarget along University Avenue in the Midway neighborhood to adhere to transit-oriented development principles, despite continued resistance from Target Corp.Coleman...

Children's Hospitals and Clinics of Minnesota plans $42M expansion project.
May 11, 2006... Byline: Mark Anderson Children's Hospitals and Clinics of Minnesota is planning a new 120,000-square-foot medical and general office building aimed at meeting rapidly growing space demands on its Minneapolis campus.The $42 million facility...

Edina-based Crown Bank adds senior Twin Cities real estate lender to its ranks.
May 11, 2006... Byline: Mark Anderson Edina-based Crown Bank added fuel to its growth prospects this spring by recruiting a senior Twin Cities real estate lender to its ranks and firming up a strategy to boost lending capacity. In April, the 6-year-old...

Centex recruits Minnesota mayors for online marketing campaign.
May 11, 2006... Byline: Bob Geiger They say you can't beat city hall, but Centex Homes found that mayors are willing to endorse the homebuilder's Twin Cities projects.In a new online marketing campaign, the mayors of Blaine, Buffalo and Waconia will...

Twin Cities law firms finding that top-space office rentals are scarce.
May 11, 2006... Byline: Barbara Jones (This story originally appeared in Minnesota Lawyer, Minneapolis, another Dolan Media publication.) Twin Cities attorneys who are considering moving their offices had better get busy. While metro law firms have...

TIF district is proposed for downtown Minneapolis site.
May 11, 2006... Byline: Bob Geiger Legislation under consideration at the Capitol would benefit two homeless shelters near Interstate 394 on the northern edge of downtown.St. Louis Park-based development group Tenth Street Associates LLC wants lawmakers...

BKV Group of Minneapolis selected for senior community project in Crosby.
May 11, 2006... Byline: Finance and Commerce Staff BKV Group of Minneapolis was selected to complete the master plan and design of the first phase of a senior community in Crosby.The Cuyuna Regional Medical Center and Presbyterian Homes and Services are...

CRESA Partners hires two at Minneapolis office.
May 11, 2006... Byline: Finance and Commerce Staff Tami Kurtzweil and Matt Tobin have been hired as real estate associates at the Minneapolis office of CRESA Partners.Kurtzweil previously was a real estate negotiator with Target Corp. of Minneapolis....

CSM Corp. of Minneapolis begins construction on Oak Park Commons.
May 11, 2006... Byline: Finance and Commerce Staff CSM Corp. of Minneapolis has broken ground on a 200,000-square-foot shopping center on the last parcel of undeveloped land along Highway 36 in Oak Park Heights.The company said Oak Park Commons will be...

Minnesota again ranks high in NAIOP property tax survey.
May 11, 2006... Byline: Finance and Commerce Staff Small businesses in Minnesota continue to pay relatively high property taxes compared with a sampling of other states, according to a study by the Minnesota chapter of the National Association of...

St. Paul design firm Nita B. Creative stays on Selby in move to new space.
May 11, 2006... Byline: Finance and Commerce Staff St. Paul design firm Nita B. Creative has moved into new space at 991 Selby Ave. after acquiring the 3,024-square-foot building in December and remodeling the structure. Renita Breitenbucher, principal of...

Bloomington's Oxboro Square signs anchor grocery tenant.
May 11, 2006... Byline: Finance and Commerce Staff Vadnais Heights-based Knowlan's Super Markets Inc. intends to open its seventh Twin Cities area Festival Foods grocery store in October after agreeing to fill a 46,882-square-foot anchor tenant slot at...

Minnesota Marketing Briefs: May 13, 2006.
May 13, 2006... Byline: Bob Geiger Public relations veteran Scott Meyer has formed a St. Paul strategic branding firm named after super-continent Pangea.Best known for co-founding the Weber Shandwick public relations firm of Bloomington, Meyer was chief...

Critics say roofing industry has too much unskilled labor.
May 16, 2006... Byline: Brian Johnson Four years ago, Paul Leyendecker was doing OK in the roofing business. He tackled 150 to 200 jobs per year. At one point, he even started a "Christmas in July" promotion, in which his company would install a free roof...

New legislation could give biotech projects a boost in Minnesota.
May 16, 2006... Byline: Brian Johnson State lawmakers are close to approving legislation that's designed to make Minnesota a friendlier place for the construction of biopharmaceutical plants and other facilities that serve the biotechnology industry....

Hurricane Katrina impacts highway project in Minnesota.
May 16, 2006... Byline: Brian Johnson The impact of Hurricane Katrina continues to be felt in some unlikely areas -- including on at least one highway project in Minnesota. The Minnesota Department of Transportation says sound-wall construction along...

Blind Wisconsin builder befuddles the skeptics.
May 16, 2006... Byline: Joe Grundle (This story originally appeared in the Daily Reporter, Milwaukee, WI, another Dolan Media publication.) Dick Wolter is used to people doubting his abilities. But the owner of R.A.W. Builders and Designers of...

Milwaukee chapel full of mysteries.
May 16, 2006... Byline: Sean Ryan (This story originally appeared in the Daily Reporter, Milwaukee, WI, another Dolan Media publication.) There was a mystery about the stained glass windows in the Soldiers Home chapel in Milwaukee.They appeared in the...

Multnomah County Court ruling deals setback to Portland labor unions.
May 16, 2006... Byline: Libby Tucker (This story originally appeared in the Daily Journal of Commerce, Portland, Ore., another Dolan Media publication.) A recent court ruling on prevailing wage may signal that labor unions are losing their grip on...

Minneapolis-based BKV Group expands menu of services.
May 16, 2006... Byline: Finance and Commerce Staff The BKV Group architectural, interior design and engineering firm of Minneapolis has added two more specialties.The firm says it will now provide urban planning and landscape architectural services,...

BOR-SON of Bloomington chosen for Western Row project in St. Paul.
May 16, 2006... Byline: Finance and Commerce Staff BOR-SON Construction Inc. of Bloomington was selected by the Wall Cos. development firm to build the Western Row condominium project in St. Paul.Construction is already under way for the four-story,...

Cemstone Products Co. of Mendota Heights hires manager, account representative.
May 16, 2006... Byline: Finance and Commerce Staff Cemstone Products Co. of Mendota Heights announced two new employees.John Thompson was named manager at the company's ready-mix plant in East Bethel.Before joining Cemstone, Thompson was a manager at...

Howard R. Green in St. Paul hires project engineer.
May 16, 2006... Byline: Finance and Commerce Staff Rick Elberts has been named project engineer in the vertical infrastructure group at Howard R. Green Co. in St. Paul.With more than 20 years of experience, Elberts has worked on a variety of projects for...

Grand openings planned for houses built by students in northeastern Minneapolis.
May 16, 2006... Byline: Finance and Commerce Staff Grand openings will be held next week for two houses built by students from high schools in the northeastern metro area.The 94 juniors and seniors who built the houses at 6948 Timber Ridge Hollow S. in...

Village at Mendota Heights reaches second phase of 20-unit condominium project.
May 16, 2006... Byline: Finance and Commerce Staff Officials broke ground last week on a 20-unit condominium project that is the second phase of the Village at Mendota Heights.Village at Mendota Heights is patterned after the classic 1914 "Market Square"...

Cecile Bedor takes on the Planning and Economic Development department in St. Paul.
May 18, 2006... Byline: Bill Clements In 1983, while a student at the University of Minnesota, Cecile Bedor took an "urban plunge."The aptly named plunge, sponsored by the Catholic, social-justice-oriented Newman Center at the U of M, involved a trip to...

St. Paul-based PariPassu Cos. looks west to Sioux Falls, S.D.
May 18, 2006... Byline: Mark Anderson Scott McMahon, Jim Lockhart and their colleagues at PariPassu Cos. are getting ready to make a major mark in Sioux Falls, S.D. -- and on their company's year-old resume. The Minneapolis-based developer and investment...

Another Twin City group joins Central Corridor Development Framework Task Force.
May 18, 2006... Byline: Bill Clements A task force with teeth.That's how Bob Hume, spokesperson for St. Paul Mayor Chris Coleman, describes the recently appointed Central Corridor Development Framework Task Force.The new 19-member entity will have bite...

Historic rehab project in St. Paul may fit under National Trust Small Deal Fund.
May 18, 2006... Byline: Burl Gilyard The Payne Avenue State Bank Building in St. Paul, also known as the Old Swedish Bank Building, has been sitting empty for several years. The iconic brick building dates to 1923.The East Side Neighborhood Development...

Vital signs strong for health-care sector.
May 18, 2006... Byline: Burl Gilyard As the baby boomers age, medical real estate will become increasingly healthy. That was the message at Tuesday's National Association of Industrial & Office Properties (NAIOP) meeting that looked at trends in...

Hector Barreto stepping down as head of the U.S. Small Business Administration.
May 18, 2006... Byline: Mark Anderson Hector Barreto announced in late April that he would step down as head of the U.S. Small Business Administration after five years in the post -- the second longest tenure in the SBA's history.The agency is a chief...

Yamamoto Moss 'testing waters' on three properties in Minneapolis.
May 18, 2006... Byline: Bob Geiger The Yamamoto Moss graphic design and corporate identify firm is considering selling three adjacent buildings that it owns on First Avenue in the Minneapolis Warehouse District, including the building that houses its...

Minneapolis-based Master Development uses 'urban nature' theme to promote latest condo project.
May 18, 2006... Byline: Bob Geiger "Urban nature," the advertising theme for Master Development's 46th & 46th condominium development, might seem like a contradiction in terms.But the developer of the 27-unit condo building at East 46th Street and 46th...

Twin Cities Building Owners & Managers Assn. to hold seminar.
May 18, 2006... Byline: Finance & Commerce Staff The St. Paul and Minneapolis chapters of the Building Owners & Managers Association (BOMA) are teaming up for a half-day seminar called "A Practical Approach to Intelligent Buildings -- Enhancing the Tenant...

Peterson joins Minneapolis-based CSM lodging.
May 18, 2006... Byline: Finance & Commerce Staff The lodging unit of Minneapolis-based CSM Corp. has hired Daniel Peterson as regional vice president of operations. He will be responsible for hotels in the Midwest and Pacific Northwest. Peterson, who has...

Liberty Property Trust starts green project in Eden Prairie.
May 18, 2006... Byline: Finance & Commerce Staff Pennsylvania-based Liberty Property Trust has broken ground on its first "green" development project in the Twin Cities.The Malvern, Pa., real estate investment trust is building a 56,000-square-foot, Class...

MN Shopping Center Assn. to meet in Minneapolis.
May 18, 2006... Byline: Finance & Commerce Staff The next meeting of the Minnesota Shopping Center Association will examine the future of France Avenue, including the Southdale retail area.The Westin hotel/condo project, redevelopment of the former AMC...

Minneapolis-based Master completes deals.
May 18, 2006... Byline: Finance & Commerce Staff Minneapolis-based Master announced recent lease deals totaling nearly 28,000 square feet at three Minneapolis properties. In addition, Master represented two clients in the sale of their properties.The...

Minnesota Marketing Briefs: May 20, 2006.
May 20, 2006... Byline: Bob Geiger Ad industry insiders say Minneapolis agency Fallon Minneapolis is pitching New York-based financial brokerage Smith Barney.Fallon has created advertising since 2000 for Citibank credit card and financial services, which...

Bioprocess piping bill receives approval from Minnesota House and Senate.
May 23, 2006... Byline: Brian Johnson A measure that's designed to encourage construction of biotechnology facilities in Minnesota is awaiting the governor's signature, according to Rep. Tim Mahoney, DFL-St. Paul, the bill's chief House sponsor.The bill,...

Hennepin County approves $4.3 million in funding for housing projects.
May 23, 2006... Byline: Brian Johnson Hennepin County has approved $4.3 million in funding for 16 rental and for-sale housing projects. The projects will provide nearly 900 housing units, including 466 affordable units and 40 units for homeless people....

Bell tower project receives award from Minneapolis Heritage Preservation Commission.
May 23, 2006... Byline: Brian Johnson The Minneapolis Heritage Preservation Commission is taking note of the recently completed bell tower at Central Lutheran Church.The commission, at its 15th annual luncheon last week, recognized the project with a...

Planned library in downtown Rosemount to showcase sustainable design.
May 23, 2006... Byline: Brian Johnson A planned library in downtown Rosemount promises to be another sustainable design showcase for a county that's quietly positioning itself as a green building leader. The 22,000-square-foot Dakota County library and...

Dakota County stands by its design selection process.
May 23, 2006... Byline: Brian Johnson Dakota County is downplaying a mild controversy over the design selection process for the proposed county library in Rosemount.It all started when The Durrant Group, in response to the county's request for proposals,...

Prison on Yankton Sioux Reservation in Wagner, S.D. designed from a tribal perspective.
May 23, 2006... Byline: Brian Johnson If Hollywood comes to the Midwest to find a good location for a prison movie, chances are the proposed correctional facility on the Yankton Sioux Reservation in Wagner, S.D., won't get a second look. That's because...

Minnesota builder group warns of 'crackdown' on illegal workers.
May 23, 2006... Byline: Brian Johnson A group that represents Minnesota home builders is warning its members of a "crackdown" on builders who use illegal workers. In a May 15 e-mail to members, the Builders Association of Minnesota noted that "77...

Idaho contractors wrestle with rising steel prices.
May 23, 2006... Byline: Ken Miller (This article was originally published in the Idaho Business Review, Boise, another Dolan Media publication.) With the warm-weather construction season cranking up, Idaho contractors report a welcome stabilization in...

Association of Women Contractors to celebrate 10th anniversary.
May 23, 2006... Byline: Finance and Commerce Staff A 10th anniversary celebration for the Association of Women Contractors is set for Friday, June 16, at Windows on Minnesota on the 50th floor of the IDS Center. A social hour, dinner, silent auction, live...

Goltz named architectural director at Ellerbe Becket's Minneapolis office.
May 23, 2006... Byline: Finance and Commerce Staff Howard Goltz has joined Ellerbe Becket's Minneapolis office as architectural director. Goltz, who has 40 years of experience in the industry, most recently with the Minneapolis office of Leo A. Daly, is...

St. Paul office of Howard R. Green Co. chosen by city of Richfield.
May 23, 2006... Byline: Finance and Commerce Staff The city of Richfield has hired the St. Paul office of Howard R. Green Co. to provide a variety of professional services. Under a "general service agreement," the company will offer expertise related to...

Owatonna-based Viracon starts construction of Utah fabrication plant.
May 23, 2006... Byline: Finance and Commerce Staff Viracon, an Owatonna-based architectural glass fabricator, has started construction on a new facility in St. George, Utah. The fabrication plant is scheduled to open in April 2007. At capacity, the plant...

President of Minneapolis-based Sherman Associates prefers the quiet approach.
May 25, 2006... Byline: Burl Gilyard Thousands of people drive by the headquarters of Sherman Associates every day without even knowing it. That's just fine with George Sherman, president of the Minneapolis-based multi-family housing developer and owner....

GrandStay Residential Suites to debut in Twin Cities.
May 25, 2006... Byline: Mark Anderson Rod Lindquist makes a pretty good case for why his GrandStay Residential Suites might become the next big thing in lodging. The company, which Lindquist founded and leads today in St. Augusta, just south of St. Cloud...

When Ford plant in St. Paul closes in 2008, what will happen to the baseball fields?
May 25, 2006... Byline: Bill Clements At Schmidty's Sports Barbers near the Ford plant in St. Paul, the first question customers asked upon hearing that Ford Motor Co. would close the plant in 2008 was: What's going to happen to the baseball...

Investors Real Estate Trust to buy Flagship, Gateway corporate centers.
May 25, 2006... Byline: Burl Gilyard Investors Real Estate Trust (IRET) of Minot, N.D., has a contract to purchase a Midwestern office portfolio that includes two local buildings -- the Flagship Corporate Center in Eden Prairie and the Gateway Corporate...

Family firm starts hometown development in Apple Valley.
May 25, 2006... Byline: Mark Anderson Apple Valley is hometown to the Pedersen family and is the site of a milestone project for the family's development firm, Pedersen Ventures. The firm -- started by Eugene Pedersen in the late 1970s and run now by his...

Minneapolis' LaSalle Plaza up for sale.
May 25, 2006... Byline: Burl Gilyard The LaSalle Plaza office tower at 800 LaSalle Ave. in downtown Minneapolis has hit the market. Eden Prairie-based Northstar Partners is brokering the sale of the 589,000-square-foot, Class A tower. "We have pretty good...