Finance and Commerce Daily Newspaper, MN articles from May 2007

Finance and Commerce Daily Newspaper, MN archives from May 2007

Hennepin County seeks 'quality-based' design for Lowry Bridge project.
May 1, 2007... Byline: Brian Johnson Hennepin County's request for proposals for the Lowry Avenue Bridge project states that any proposal with a cost estimate will be returned "and the respondent will be removed from consideration in the RFP process." A...

Quaint college town south of Minneapolis prides itself on cows, colleges, contentment, and condos.
May 1, 2007... Byline: Adam Johnson Northfield, a quaint college town 40 miles south of Minneapolis, prides itself on its "cows, colleges and contentment." Starting this month, you can add condos to that list. Developers at Little Canada-based Mendota...

Terry Helland promoted at Opus North office based in Rosemont, Ill.
May 1, 2007... Byline: F&C Staff Report Terry Helland is the new director of architecture for Opus Architects & Engineers Inc. within the Opus North region, based in Rosemont, Ill. He previously was the manager of architectural services at the Opus...

Eight employees join Minneapolis-based BKV Group.
May 1, 2007... Byline: F&C Staff Report Minneapolis-based BKV Group has hired eight new employees. They are as follows: * Ronald Buchanan, senior project architect; * Mark Harris, senior project architect; * Jeff Herner, senior project architect; *...

Minnesota Department of Transportation: Highway 212 project stays on target.
May 1, 2007... Byline: F&C Staff Report The Highway 212 project in the west metro is on schedule for completion in 2008, according to the Minnesota Department of Transportation. Design work is 98 percent complete and construction is 50 percent complete...

Associated General Contractors of Minnesota launches gas tax radio campaign.
May 1, 2007... Byline: F&C Staff Report Associated General Contractors of Minnesota (AGC) and supporters have launched a two-week, $100,000 radio ad campaign to urge approval of a gas tax increase to help fund road construction. Both the House and...

Project managers join Minneapolis-based Kraus-Anderson Construction Co.
May 1, 2007... Byline: F&C Staff Report Minneapolis-based Kraus-Anderson Construction Co. has hired Michael Palmer and Patrick Sims as project managers. Palmer will work in the company's Minneapolis office, while Sims will work in the Circle Pines...

Minneapolis architecture and engineering firms increasingly looking across the ocean for work.
May 1, 2007... Byline: Brian Johnson Ellerbe Becket and other local architecture and engineering firms are increasingly looking across the ocean for work, putting up everything from luxury condominiums to state-of-the-art hospitals. Up to 20 percent of...

A new world order: Do's and don'ts about working in other countries.
May 1, 2007... Byline: Brian Johnson Faye LeDoux's passport includes stamps from South Korea, Russia and Saudi Arabia, among other faraway places. "I have lost count of the number of times I have been to Korea," said LeDoux, a principal and project...

Plugging the leaks: Developers fix Minneapolis condo's water infiltration problems.
May 1, 2007... Byline: Adam Johnson A year ago, disgruntled renters at The Falls and Pinnacle condo conversion project were leaking out of the buildings faster than water could leak in. As few as 20 percent of the original residents had decided to buy a...

Minnesota Department of Transportation seeks piece of $1.2 billion toll road pie.
May 1, 2007... Byline: Adam Johnson The thought of expensive toll roads sends shivers down most drivers' spines. With that in mind, the Minnesota Department of Transportation is looking at ways to strategically use tolling, or "congestion pricing," to...

Minnetonka-based Opus Northwest donates $50K to child-mentoring group.
May 3, 2007... Byline: F&C Staff Minnetonka-based Opus Northwest has donated $50,000 to Kinship of Greater Minneapolis. Opus employee and Kinship volunteer Rich Graversen presented the check to Kinship officials at a fundraising event April 27 at The...

New locations for Milio's Sandwiches, Slumberland in the Twin Cities.
May 3, 2007... Byline: F&C Staff Griffin Cos. represented Larson Enterprises (Slumberland Furniture) and a Milio's Sandwiches franchisee in recent deals. In the Slumberland deal, Griffin reps John Tramm, Linda Zelm and Suzie Rettinger helped Larson...

Minneapolis-based Turnstone Group breaks out of condo box.
May 3, 2007... Byline: Mark Anderson The Turnstone Group closed a string of real estate deals in the first three months of the year that should confirm one thing -- the company is about more than just condo conversions. The Minneapolis-based investment...

Investing in the foreclosure market in Minnesota.
May 3, 2007... Byline: Bill Clements Ben Gitler swears he's a good guy. Don't hold it against him that he also happens to be someone who zealously pursues real estate deals, including distressed or foreclosed properties. As foreclosures have zoomed to...

Emerge moves to new offices in north Minneapolis.
May 3, 2007... Byline: F&C Staff Emerge, an employment and housing nonprofit, has moved into new digs in north Minneapolis, ending more than a decade of vacancy at the building at 1101 W. Broadway Ave. Emerge will occupy the 5,600-square-foot second...

A distressing road for banks in Minnesota.
May 3, 2007... Byline: Bill Clements Marcia Johnson and Patrick Carey want people to know that banks don't like repossessing foreclosed homes. First, because banks usually lose money on foreclosures. Second, because repossessing a foreclosed home,...

Apartment market in Minnesota on the mend, but at slower rate.
May 3, 2007... Byline: Burl Gilyard Local apartment owners were pleased in 2006 when rents climbed and vacancy fell. But the pace of apartment absorption appears to be slowing this year. That was the message in the first quarter "Apartment Trends" report...

IDS Center in Minneapolis remains at the top of the heap.
May 3, 2007... Byline: Burl Gilyard Real estate is a business of numbers. Every year, Greater Minneapolis BOMA (Building Owners and Managers Association) pulls together a comprehensive list of downtown office building values in cooperation with the...

YWCA of Minneapolis exploring mixed-use Uptown project.
May 3, 2007... Byline: Burl Gilyard The YWCA of Minneapolis is in the early stages of exploring expansion and redevelopment in Uptown with a new facility that would include the Walker Library branch and an adjacent Allina Medical Clinic. The nonprofit...

Struggling chains in Minneapolis take small approach.
May 3, 2007... Byline: Bob Geiger Two disparate businesses -- Hollywood Video and Snyder Drug Stores Inc. -- are trying similar tactics in an effort to respond to changing market conditions. Both are offering space for sublease in their stores and have...

Globus hotel project aims for the middle market in Minneapolis.
May 3, 2007... Byline: Mark Anderson Mark Globus and his partners at Global One Commercial are part of a throng of developers with new Minneapolis hotel projects that are either in the pipeline or up and running. But the group is almost alone in...

CSM Corp. signs Kitchens Made Simple as tenant in Minnetonka.
May 3, 2007... Byline: F&C Staff KMS Building Products will lease the 89,181-square-foot Clearwater Corporate Center in Minnetonka, the former Advantek building that CSM Corp. acquired in February. KMS is a manufacturer and distributor of kitchen...

Duke Realty Corp. keeps businesses in Eagan, Brooklyn Park.
May 3, 2007... Byline: F&C Staff Indianapolis-based Duke Realty Corp. recently completed two lease renewals in Eagan, as well as two renewals and an expansion in Brooklyn Park. In Eagan, Commercial Environments, an office furniture and equipment...

Minneapolis BOMA elects officers, board members.
May 3, 2007... Byline: F&C Staff The Greater Minneapolis Building Owners and Managers Association (BOMA) has elected new officers and three new members to its 10-member board of directors. The new officers will each serve one-year terms. They are: *...

Minnesota Marketing Briefs: May 5, 2007.
May 5, 2007... Byline: Bob Geiger High-profile Minneapolis ad agency Fallon Worldwide is playing public relations defense after losing its United Airlines account and part of its Citibank business, as well as reviews for Volvo and Best Buy Co. Inc. in...

FOCs, shelter or incentive?
May 5, 2007... Byline: Charley Shaw A corporate tax law from the 1980s designed to help Minnesota companies compete in the global marketplace is on the chopping block in a House and Senate tax conference committee. DFLers argue that the so-called...

Crunching the numbers on low-impact development in Minnesota.
May 9, 2007... Byline: Bill Clements LID, or low-impact development, is the green development practice on most experts' lips these days in Minnesota and beyond. The approach is described as an "innovative, ecosystem-based approach to land development and...

Sale of historic Pioneer-Endicott Buildings pending in St. Paul.
May 10, 2007... Byline: Burl Gilyard The historic Pioneer-Endicott Buildings in downtown St. Paul will change hands this month, according to several commercial real estate sources. The buildings are largely empty, and a long-term master lease held by U.S....

Blaine retail center Northtown Mall: Back from the brink.
May 10, 2007... Byline: Bob Geiger Recovering from an acute case of anchors away, Blaine retail center Northtown Mall has attracted four major tenants and hopes to lease space that mid-priced retailer Mervyns vacated in 2004. The string of anchor...

BlackRock Realty buying Calhoun Square in Minneapolis.
May 10, 2007... Byline: Burl Gilyard BlackRock Realty, an arm of New York-based BlackRock Inc., has emerged as the prospective buyer of Calhoun Square retail complex and adjacent parcels in the Uptown neighborhood of Minneapolis. A BlackRock spokesman...

Former city assessor in Minneapolis remembered by friends and colleagues.
May 10, 2007... Byline: Burl Gilyard J. Scott Renne, an expert on property appraisal and assessment who served as the city assessor in Minneapolis from 1993 to 2004, died last week at his home. Renne, who lived in Minneapolis, was 55. Minneapolis City...

Maplewood debates Benedictine Sisters of St. Paul's Monastery development project.
May 10, 2007... Byline: Mark Anderson If diligent planning could guarantee a successful real estate development, then the Benedictine Sisters of St. Paul's Monastery would have a sure bet on their hands. The 59-year-old community has been pondering a...

Minneapolis-based Shelter Corp. expands rental portfolio.
May 10, 2007... Byline: Mark Anderson Minneapolis-based Shelter Corp. is beefing up its portfolio of residential rental properties, both buying and developing sites. In its biggest recent expansion, Shelter is in the midst of closing on more than 1,600...

Minneapolis-based CSM Corp hires Arne Cook.
May 10, 2007... Byline: F&C Staff After 10 years with Chicago-based First Industrial Realty Trust and, before that, nine years with Opus Corp., local commercial real estate veteran Arne Cook will join Minneapolis-based CSM Corp as president of commercial...

Minneapolis real estate e-newsletter wins national award.
May 10, 2007... Byline: F&C Staff Report The e-newsletter of the Minneapolis Area Association of Realtors (MAAR) is one of six winners of the 2007 "Best of the Web" contest sponsored by the National Association of Realtors and Realtor Association...

Public to comment on Minneapolis parks development fee.
May 10, 2007... Byline: F&C Staff Report Next Wednesday, the public can comment on a new ordinance from the Minneapolis Parks and Recreation Board (MPRB) under which developers would be assessed either $3,000 in cash or the equivalent in land for each new...

Applebee's to exit University and Snelling in St. Paul.
May 10, 2007... Byline: F&C Staff After 19 years at Snelling and University avenues in St. Paul, the Applebee's restaurant will be closing, effective May 20. Overland Park, Kan.-based Applebee's is shutting down 24 restaurants across the country, because...

Bloomington-based Welsh Invest expands Midwest industrial holdings.
May 10, 2007... Byline: F&C Staff Welsh Invest, an arm of Bloomington-based Welsh Cos., has acquired two industrial properties, including one in Bloomington, that total more than 1 million square feet. Welsh did not disclose the terms of the deals. The...

Earth-friendly ways to handle, treat stormwater runoff becoming popular in Twin Cities.
May 10, 2007... Byline: Bill Clements Stormwater management is not exactly a sexy topic, but it's sexier than it used to be. These days, with development pushing out the boundaries of the Twin Cities, and with increasing concern about environmental...

Minneapolis offers credits for 'green' stormwater practices.
May 10, 2007... Byline: Bill Clements Minneapolis, like other cities, offers developers and homeowners incentives for some "green" development practices, including sustainable stormwater management. Lois Eberhart, water resources administrator for the...

Commentary: Real Estate Law Focus: From polluted to populated.
May 10, 2007... Byline: Frank Jossi A large lot along Plymouth Avenue in north Minneapolis has been vacant for more than 30 years, a casualty of perception and pollution. Most developers have seen little opportunity in redeveloping the property, which...

Real Estate Law Focus: Can one position paper stop mold litigation?
May 10, 2007... Byline: Correy E. Stephenson When mold litigation burst on the scene, experts predicted the flurry of property damage and personal injury suits would be the next big litigation trend. But over the last few years, mold victories have been...

Real Estate Law Focus: Local mold cases often rotten for plaintiffs.
May 10, 2007... Byline: Dan Heilman Between a controversial position paper (see main story) and the state's relatively strict standards for admission of expert testimony, it can be extremely difficult for a toxic mold plaintiff to win in Minnesota,...

Minnesota Marketing Briefs: May 12, 2007.
May 12, 2007... Byline: Bob Geiger After closing her Minneapolis graphic design and advertising firm, Jodie Tanaka is warning industry executives that the traditional ad agency model is broken because of rising overhead, increasing employment costs and...

DFL strategy 'veto bait'.
May 12, 2007... Byline: Charley Shaw As Ron Carey sees it, the DFL is forcing Gov. Tim Pawlenty to veto spending bills, just to make him look bad. And the head of the state GOP party doesn't think it's fair. But his counterpart, DFL Party Chairman Brian...

Ryan Companies US Inc. of Minneapolis names winner of Emerging Business Partner Award.
May 15, 2007... Byline: F&C Staff Report Ryan Companies US Inc. of Minneapolis has presented its first Emerging Business Partner Award to Bobby Champion, executive director of the Upper Midwest chapter of the National Association of Minority Contractors...

Threading the needle:Bridge unique to Minnesota about to span Hiawatha Avenue.
May 15, 2007... Byline: Adam Johnson A bridge unique to Minnesota is about to span Hiawatha Avenue. With a construction cost of more than $5 million, the span is unusually pricey for a pedestrian and bicycle pathway. But that's because it's an unusual...

Monument in glass:Minnesota company set to leave its mark on NYC's Freedom Tower.
May 15, 2007... Byline: Brian Johnson A Minnesota company is set to leave its mark on New York City's Freedom Tower. Viracon, an Owatonna-based provider of high-performance glass, will provide nearly 1 million square feet of glass for the highly...

Minnesota Department of Transportation offers fuel-price benefit to contractors.
May 15, 2007... Byline: Adam Johnson The latest increase in fuel prices is bad news for bottom lines in road construction. To share the risk of such an increase, the Minnesota Department of Transportation (MnDOT) offers a special contract provision that...

Litchfield opera house not yet ready for final aria.
May 15, 2007... Byline: Brian Johnson The story of the old Litchfield Opera House is one that's fitting for, well, an opera. The 106-year-old building at 126 N. Marshall Ave. in Litchfield has been vacant for five years. Just last year, the city council...

Building, fire code adoption delayed by Minnesota Dept. of Labor and Industry.
May 15, 2007... Byline: Adam Johnson Minnesota contractors need more time to study the state's revised building and fire codes. The Minnesota Department of Labor and Industry had been working toward a May 31 adoption of revised codes, but Commissioner...

Minnesota's building code highlights.
May 15, 2007... Byline: F&C Staff Report The building and fire codes going into effect July 10 will include several important changes for builders to adopt, including: * Townhome buildings and duplexes greater than 9,250 square feet will be required to...

Prevailing wage bill in Minnesota Legislature would toughen enforcement.
May 15, 2007... Byline: Brian Johnson A Jobs and Economic Development bill that recently made its way through the Legislature included several provisions that rankled open-shop contractors, including language that would allow workers to sue employers who...

Farmington voters nix bond referendum for $24 million sports complex.
May 15, 2007... Byline: Brian Johnson Farmington area voters said a resounding "no" last week to a proposed $24 million sports complex. Nearly 70 percent of those who voted in the May 8 Farmington Area Public Schools bond referendum rejected plans to...

Construction lawyer joins Minneapolis firm.
May 15, 2007... Byline: F&C Staff Report Mark Becker has joined the construction law practice group of Minneapolis-based Fabyanske, Westra, Hart & Thomson. Becker, an associate with the firm, most recently practiced construction law in Chicago. He has...

FlowSense gets Minnesota Air National Guard contract.
May 15, 2007... Byline: F&C Staff Report The Minnesota Air National Guard has awarded an HVAC service contract to Maple Grove-based FlowSense. FlowSense will furnish materials, equipment, supervision, tools and labor for the repair and startup of a...

Koch hired at Minneapolis-based Durrant Group.
May 15, 2007... Byline: F&C Staff Report The Durrant Group Inc. architectural firm of Minneapolis has named Laurence Koch to serve as justice sector lead and project manager. In addition to design and project management, Koch will be responsible for...

Minnesota governor reappoints Kraus-Anderson official to board.
May 15, 2007... Byline: F&C Staff Report A Kraus-Anderson Construction Co. official has been reappointed by Gov. Tim Pawlenty to the Minnesota Higher Education Facilities Authority. Gary Benson, a vice president and senior cost estimator at...

HEI Hospitality and Resorts arrives in a posh package in the Twin Cities.
May 17, 2007... Byline: Mark Anderson When the new Westin Minneapolis hotel opened in early May, it revived one of the city's architectural landmarks (the F&M Bank building), launched the region's first hotel under the upscale Westin flag, and marked the...

Eden Prairie Realtor tells of life on the dark side.
May 17, 2007... Byline: Bill Clements "Welcome to the dark side of real estate!" Dick Stanton laughs as he greets a visitor to his Eden Prairie office, but he's not entirely joking. Stanton is one of a handful of real estate brokers whose niche is...

St. Paul's River Bend Business Center bears fruit.
May 17, 2007... Byline: Burl Gilyard Last Friday, St. Paul Mayor Chris Coleman announced with great fanfare that Internet Broadcasting Systems Inc. (IBS) is moving to St. Paul's River Bend Business Center from Mendota Heights. The deal calls for IBS to...

NAIOP meets for Black Tuesday in Minneapolis.
May 17, 2007... Byline: Burl Gilyard BlackRock Realty emerged last week as the buyer of the Calhoun Square retail project in the Uptown area of Minneapolis. Perhaps it was no coincidence that Ryan Smidt, a director with BlackRock, found himself on a...

Curtain lowers on Revue Flats in the Minneapolis Mill District.
May 17, 2007... Byline: Bob Geiger Revue Flats, a mixed-use development that was planned near the Guthrie Theater in the Minneapolis Mill District, never got beyond the opening curtain. David Bernard Builders & Developers, a division of Roseville-based...

Miller Development plans revised Edina project.
May 17, 2007... Byline: Burl Gilyard Two small office buildings in Edina will be torn down to make way for a new retail/apartment project. Tom Miller, president of Edina-based TE Miller Development LLC, plans to break ground in September on a project...

Maple Grove projects drive creation of new bus route.
May 17, 2007... Byline: Bob Geiger Commercial development in fast-growing Maple Grove has led to a new bus line that will carry an estimated 60,000 riders annually between Brooklyn Park and its wealthier northwestern suburb. Starting June 2, Metro Transit...

Eden Prairie-based REO broker tells when REO brokers go bad.
May 17, 2007... Byline: Bill Clements And then there's the dark side of the dark side of real estate.The dark side becomes real when agents and/or brokers game the REO or foreclosure system for personal financial gain. It's called cheating. It happens,...

Foreclosure in 55343 ZIP code, otherwise known as Hopkins.
May 17, 2007... Byline: Bill Clements Not every foreclosed property is a broken-down house in north Minneapolis. Some are tidy townhouses tucked away in Hopkins. REO broker Dick Stanton gets a little lost, in fact, as he's driving through the twisty roads...

Franklin Bank in Minneapolis honored for small-business lending.
May 17, 2007... Byline: F&C Staff A city of Minneapolis agency has named Franklin Bank its 2006 Small Business Lender of the Year for helping to finance startup companies. The award was presented by Community Planning and Economic Development (CPED)....

Sauer-Danfoss renews Plymouth space.
May 17, 2007... Byline: F&C Staff Chicago-based Equis Corp. has negotiated a seven-year lease restructuring with design and manufacturing company Sauer-Danfoss at 3500 Annapolis Lane N. in Plymouth. According to a press release, after completing a...

Salo gets new HQ in downtown Minneapolis.
May 17, 2007... Byline: F&C Staff Local consulting firm Salo LLC has moved to new headquarters, a 12,000-square-foot space on the second floor of the Lady Slipper Building at 20 S. 13th St. in downtown Minneapolis. The newly refurbished offices will...

St. Paul real estate executive earns CCIM designation.
May 17, 2007... Byline: F&C Staff Stuart Simek, president of St. Paul-based Meridian Management, has earned the Certified Commercial Investment Member (CCIM) designation. He is among some 9,000 real estate experts in North America to have earned the...

St. Paul Port Authority adds Warden to staff.
May 17, 2007... Byline: F&C Staff Kelly Warden, an instructor in finance, insurance and real estate at St. Cloud State University in St. Cloud, has joined the St. Paul Port Authority as an expert in property development. Warden, who graduated from St....

Butler Square in Minneapolis nearly fully leased.
May 17, 2007... Byline: F&C Staff With furniture and workplace firm Fluid Interiors moving into the 12,654-square-foot space where Linguini & Bob once stood, Butler Square has reached occupancy of 96 percent, according to United Properties, which handles...

City of Minneapolis sets hearing on digital billboards.
May 19, 2007... Byline: Bob Geiger Minneapolis officials are considering a moratorium on digital outdoor advertising displays that critics say are distracting to drivers. The Minneapolis Zoning and Planning Committee voted on Thursday to hold a public...

F&C honors Power Brokers.
May 19, 2007... Byline: F&C Staff Report Top real estate brokers in the Twin Cities were honored during the Power Brokers banquet and awards ceremony at the Minneapolis Hilton hotel on Thursday night. The event was co-sponsored by Finance and Commerce and...

Ground broken for key bike trail in Minneapolis.
May 22, 2007... Byline: Adam Johnson With little fanfare from the media, officials from three cities and two counties gathered two weeks ago for the groundbreaking of the Northeast Diagonal Trail in Minneapolis. The almost three-mile bicycle and...

University of Minnesota looks for new use for Music Education Building.
May 22, 2007... Byline: Brian Johnson The University of Minnesota is looking for a new use for a building that has been around for nearly 120 years. The Music Education Building, the second-oldest building on campus, has been vacant since 1997. Since...

Wakota Bridge delay angers Minneapolis lawmakers.
May 22, 2007... Byline: Adam Johnson A handful of south-metro legislators sent a letter of complaint to Transportation Commissioner Carol Molnau last week, expressing "outrage and dismay" at the delay that has postponed completion of the Wakota Bridge...

OSHA says trench safety standard is good enough.
May 22, 2007... Byline: Brian Johnson After a five-year review, the Occupational Safety and Health Administration (OSHA) has determined that no major changes are necessary for the agency's excavation safety standard. Excavation-related fatalities dropped...

Minnesota governor names five to board.
May 22, 2007... Byline: F&C Staff Report Gov. Tim Pawlenty has appointed Gary Demele, Thomas Grue, Lisa Hanni and Bruce Johnson and reappointed Billie Lawton to the Board of Architecture, Engineering, Land Surveying, Landscape Architecture, Geoscience and...

Minnesota Associated General Contractors presents iSqFt event.
May 22, 2007... Byline: F&C Staff Report The Associated General Contractors of Minnesota and iSqFt are presenting a free one-hour event for iSqFt subscribers in Minnesota. The event, including continental breakfast, is scheduled for 7:30 to 9 a.m. on...

CFO of Minneapolis office of KKE Architects named president of risk control group.
May 22, 2007... Byline: F&C Staff Report Bob Mayeron, chief financial officer at the Minneapolis office of KKE Architects, has been appointed board president of the Design Professionals Risk Control Group (DPRCG). The group, founded in 1998, is a national...

C.S. McCrossan of Maple Grove offers low bid on Highway 65 project.
May 22, 2007... Byline: F&C Staff Report C.S. McCrossan of Maple Grove was the apparent low bidder Friday for a $32.3 million interchange reconstruction at Highway 65 and Anoka County Road 14 in Blaine. The Minnesota Department of Transportation calls the...