Finance and Commerce Daily Newspaper, MN articles from November 2004

Finance and Commerce Daily Newspaper, MN archives from November 2004

Periscope loses $2 million Buffalo Wild Wings account.
November 3, 2004... Byline: Staff Minneapolis ad agency Periscope lost its $2 million account with Buffalo Wild Wings Inc. Periscope failed to make the final cut in a review for Buffalo Wild Wings' chain of 255 restaurants. Periscope had created ad...

Retail remains commercial bright spot in Minnesota.
November 4, 2004... Byline: Burl Gilyard The 2004 Retail Real Estate Report, released Wednesday by the Minnesota Shopping Center Association (MSCA), shows continued health and strength in the retail real estate sector. Overall retail vacancy is listed at...

Bloomington-based Welsh Cos. buys back minority stake from overseas investor.
November 4, 2004... Byline: Mark Anderson Few people knew until last week that Welsh Cos. had completed a legal separation from its five-year capital partner, Investcorp International Inc. The principals at Bloomington-based Welsh, CEO Dennis J. Doyle and...

City of Minneapolis seeks to nudge development on Hiawatha Line.
November 4, 2004... Byline: Burl Gilyard The city of Minneapolis is tweaking its zoning code with the goal of encouraging new development around stations along the Hiawatha Line light-rail system. The plan is focused on the six neighborhood stops along...

MN chapter of Associated General Contractors meetings will examine election outcome.
November 4, 2004... Byline: Staff The effect of the election on the construction industry will be the subject of two meetings sponsored by the Minnesota chapter of Associated General Contractors. Ken Simonson, chief economist for AGC of America, will be...

Minneapolis master plan recognized by planning group.
November 4, 2004... Byline: Staff The Downtown East/North Loop Master Plan, which establishes a land-use and urban-design framework for two areas surrounding the downtown Minneapolis central business district, has been named outstanding plan for 2004 by the...

Minnesota housing projects receive $38.4 million in funding.
November 4, 2004... Byline: Staff The Minnesota Housing Finance Agency has approved $34.9 million to help pay for development of affordable rental housing, rehabilitation and preservation of housing, operating expenses and rent. Another $3.5 million is...

MN Home Ownership Center group celebrating 10th anniversary.
November 4, 2004... Byline: Staff The Minnesota Home Ownership Center, a nonprofit group that helps people become homeowners, will celebrate its 10th anniversary next week. The group will hold a gathering from noon to 1:30 p.m. on Wednesday at the...

Real estate veteran Timothy Ducharme joins Minneapolis-based Northstar Partners.
November 4, 2004... Byline: Staff Timothy Ducharme has joined the brokerage team at Northstar Partners, a Minneapolis-based commercial real estate firm. Ducharme, who has 17 years of experience leasing and selling commercial properties, is past president...

Minneapolis-based Short Elliott Hendrickson names 10 associates.
November 4, 2004... Byline: Staff Minneapolis-based architectural and engineering firm Short Elliott Hendrickson Inc. has named 10 new associates. They are: * Greg Anderson, St. Paul office, who specializes in water, sewer, drainage, street and...

Cost of heating buildings subject of St. Paul BOMA course.
November 4, 2004... Byline: Staff Rising energy prices could have a significant effect on the cost of heating commercial buildings this winter. The St. Paul Building Owners and Managers Association will sponsor a session later this month to help property...

Minneapolis housing group plans groundbreaking for the Jourdain.
November 4, 2004... Byline: Staff Central Community Housing Trust (CCHT) will break ground on Nov. 17 on a 41-unit residential structure at East Franklin and Portland avenues in Minneapolis. The Jourdain will also include 4,000 square feet of retail space....

Minneapolis Construction Briefs: November 4, 2004.
November 4, 2004... Byline: Brian Johnson Richfield officials are hoping that a proposed commercial project on the city's eastern edge will be an effective barrier against airport noise, as well as a spark plug for further development. Last week, the...

New law shortens write-off period for building improvements made for tenants.
November 4, 2004... Byline: Mark Anderson The final version of this year's federal tax package, the American Jobs Creation Act of 2004, contained a little something for a lot of people, including commercial real estate owners. Congress and the president...

New ownership team takes over Lumber Exchange Building in Minneapolis.
November 4, 2004... Byline: Burl Gilyard The historic Lumber Exchange Building in downtown Minneapolis has new local ownership. The building, which dates to 1885, offers 216,600 square feet of rentable space. A partnership including Ned Abdul, president...

Twin Cities' first-ever loft tour kicks off this weekend.
November 4, 2004... Byline: Bob Geiger In a loft version of the Parade of Homes, Minnesota Monthly Publications Inc. tomorrow will kick off the first Twin Cities Loft Living Tour. The event is scheduled for Fridays through Sundays during each of the next...

St. Louis Park approves first senior co-op housing project.
November 4, 2004... Byline: Brian Johnson Minnesota might not rate with Florida or Arizona when it comes to retirement communities, but the state is a national pioneer for an increasingly popular segment of that market - limited equity senior cooperative...

Mediation increasingly used to settle construction disputes.
November 4, 2004... Byline: Brian Johnson In the world of professional football, a disputed call is oftentimes cleared up with the use of instant replay. If only it were that simple in the world of construction. When you take the sometimes-competing...

Metropolitan Council planning move to new St. Paul headquarters.
November 4, 2004... Byline: Burl Gilyard The Metropolitan Council plans to take over the state office building at 390 N. Robert St. in downtown St. Paul. The building, which dates to 1967 and offers 102,995 square feet of rentable space, will become the new...

Blogs add voices to election buzz.
November 5, 2004... Byline: Charley Shaw Word that Democratic presidential candidate John Kerry was leading in key battleground states circulated rapidly on the Internet on Election Day afternoon. The news had an immediate impact on Wall Street, sending the...

New League of MN Cities president wants cities, state to work as partners.
November 6, 2004... Byline: Charley Shaw Judy Johnson has seen the challenges facing Minnesota communities from the grassroots level - when she worked on neighborhood issues and county board campaigns in Minneapolis - and from the mayor's chair. Now she will...

MN-based Sterion Inc. sells medical product business to Aspen Surgical.
November 9, 2004... Byline: Staff Sterion Inc. sold its medical product business located in Ham Lake to Grand Rapids, Mich.-based Aspen Surgical Products for $6.5 million. The company expects a pretax gain of $.75 per share in its second fiscal quarter...

Minneapolis Marketing Briefs: Nov. 9, 2004.
November 9, 2004... Byline: Bob Geiger Five months after the departure former president and chief creative officer David Lubars, Minneapolis-based ad agency Fallon Worldwide has hired English adman Paul Silburn as its new executive creative director for North...

DHL opens delivery sorting facility in Minneapolis.
November 10, 2004... Byline: Staff DHL, a Plantation, Fla.-based delivery business, opened a new regional sort center in Minneapolis. The facility marks the seventh regional sort center addition to the DHL network this year. "DHL made a promise to...

Competition hot in 'quick casual' restaurant niche.
November 11, 2004... Byline: Burl Gilyard When the first phase of the new Uptown Row development opened at 1221 W. Lake St. in late spring, a Wild Noodles restaurant was a key tenant of the project. The Scottsdale, Ariz.-based restaurant concept offered a mix...

Staying bullish on downtown Minneapolis housing sector.
November 11, 2004... Byline: Mark Anderson Minneapolis-based Turnstone Group noticed little reluctance among lenders when it came to financing the partnership's $58 million plan to acquire the River West complex and convert the building's 416 apartments to...

Rogers boom builds on low land prices, I-94 access and friendly local officials.
November 11, 2004... Byline: Burl Gilyard The pace of most commercial real estate development has slowed to a crawl in recent years. While residential and retail development has remained strong, there's been little demand for office or industrial projects as...

Hennepin County Commissioner featured at Sensible Land Use Coalition meeting.
November 11, 2004... Byline: Staff Hennepin County Commissioner Mike Opat will be the featured speaker at the next meeting of the Sensible Land Use Coalition. Opat will discuss his involvement with a number of projects, including the Humboldt Greenway,...

Transportation will be topic of Minneapolis BOMA meeting.
November 11, 2004... Byline: Staff Charles Zelle, president of the Jefferson Lines bus company of Minneapolis, will be the keynote speaker at next week's meeting of the Greater Minneapolis Building Owners and Managers Association. Zelle, who co-chairs the...

Hempel Properties launches Elk River retail project.
November 11, 2004... Byline: Staff Hempel Properties of Plymouth has begun construction on the Elk Ridge Retail Center at Highway 169 and 197th Avenue in Elk River. The complex, featuring a northwoods architectural theme, will include big-box stores,...

MN subcontractor group plans risk transfer seminar.
November 11, 2004... Byline: Staff The Minnesota chapter of the American Subcontractors Association will sponsor a seminar on risk transfer for subcontractors. Brian Cubbage, a specialist in construction law and contracts, will lead the session. Topics...

Minneapolis-based Short Elliott Hendrickson elects three board members.
November 11, 2004... Byline: Staff Minneapolis-based Short Elliott Hendrickson Inc. (SEH) has elected three people to its board of directors. They are Glenn Schreiner, Michael Kraemer and Nicholas Muller. Schreiner, who joined SEH in 1992, is the firm's...

Daneeka Marshall-Oquendo joins Minneapolis-based Short Elliott Hendrickson.
November 11, 2004... Byline: Staff Daneeka Marshall-Oquendo has been named marketing communications specialist at Minneapolis-based Short Elliott Hendrickson Inc. Marshall-Oquendo will work with graphics, Web and writing teams to develop and implement...

Minneapolis development doesn't have to supersede urban parks.
November 11, 2004... Byline: Burl Gilyard After the city of Minneapolis razed the bars and newsstands that once stood on Block E, the downtown site stood as a surface parking lot awaiting redevelopment. The old Shubert Theater also stood on the block, prior to...

Polluted paper mill site in Little Falls finds new life as public park.
November 11, 2004... Byline: Brian Johnson When the Hennepin Paper Mill in Little Falls closed six years ago, the city faced a double-whammy. Besides losing an employer that provided good-paying jobs, the city inherited an empty facility that would soon...

Edina, Hennepin County officials study future of Southdale area.
November 11, 2004... Byline: Brian Johnson Edina and Hennepin County officials are working with consultants to find ways to improve mobility in the Southdale area of the city, while looking ahead to the region's long-term future. The area - bordered by...

Commercial real estate execs brace for election fallout in MN.
November 11, 2004... Byline: Burl Gilyard While everyone was paying attention to the presidential race, local legislative races didn't get much attention. But on the day after the election, Minnesota Republicans awoke to find that they had lost 13 seats in the...

Two new orthopedic facilities compete for Twin Cities patients.
November 11, 2004... Byline: Bob Geiger An aging and active Minnesota population has spurred the founding of two major orthopedic clinics in the Twin Cities. Poised to compete for patients are TRIA Orthopaedic Center, a 100,000-square-foot Bloomington...

London uses tough tactic to fight traffic congestion.
November 11, 2004... Byline: Brian Johnson London, historically one of the most congested cities in Europe, has taken an unusual approach to fighting traffic problems in recent months: Officials are charging motorists for the privilege of driving in the...

MN Construction Association's November luncheon to focus on business succession.
November 13, 2004... Byline: Finance and Commerce Staff The Minnesota Construction Association's November luncheon meeting will focus on wealth and asset transfers within construction companies. The meeting, set for Nov. 17 from 11:30 a.m. to 1:15 p.m. at...

Minneapolis Marketing Briefs: November 13, 2004.
November 13, 2004... Byline: Bob Geiger Minneapolis ad agency Johnson Krumwiede Roads (JKR) will close Dec. 31, blaming falling revenues and the loss of a major client. "It's been a slow decline. So it's not like we're laying off a whole lot of people,"...

Minneapolis-based Fallon Worldwide losing Electronic Data Systems account.
November 16, 2004... Byline: Staff Minneapolis-based ad agency Fallon Worldwide is parting with Plano, Texas-based Electronic Data Systems Corp. five years after it began creating advertising for the global technology services company. Fallon declined to...

In Minneapolis's loft marketing wars, sex sometimes sells.
November 18, 2004... Byline: Bob Geiger Faced with an increasing number of loft condominium projects, developers are diversifying their advertising and spending more money to reach prospective buyers. Out are staid photos of high-rises. In are billboards...

Downtown Minneapolis hotel site's future sparks speculation.
November 18, 2004... Byline: Mark Anderson Three years ago, Bloomington-based Nath Cos. was on the verge of a major new venture into the hotel business. The longtime restaurant franchisee had set its sights on leveraging its expertise in hospitality...

Bloomington-based Lupe Development puts another riverfront project in pipeline.
November 18, 2004... Byline: Burl Gilyard Former Minneapolis City Council Member Steve Minn is looking again to the Minneapolis riverfront for his next development. Minn and Brian Flakne, principals with Bloomington-based Lupe Development Partners, are...

Bennie Award goes to Dancing Waters project in Woodbury.
November 18, 2004... Byline: Staff Dancing Waters, a 450-acre "mastered planned" community in Woodbury, has been named winner of a 2004 Bennie Award for best new neighborhood by the Builders Association of the Twin Cities. The award, aimed at recognizing...

Golden Valley-based Morcon Construction hires vice president of business development.
November 18, 2004... Byline: Staff Tom Hartwell has been named vice president of business development for Golden Valley-based Morcon Construction Inc. Hartwell, a graduate of the University of Minnesota, has more than 20 years of experience in sales,...

Greater Minneapolis Building Owners and Managers Assn. suburban meeting to focus on Hiawatha Line.
November 18, 2004... Byline: Staff The Greater Minneapolis Building Owners and Managers Association bimonthly suburban meeting will look at the Hiawatha Line light-rail system. The meeting, set for Thursday, Dec. 2, will examine the costs and benefits of...

St. Paul BOMA group to discuss building security.
November 18, 2004... Byline: Staff Larry Brubaker, regional corporate security manager for Unisys Corp., will be the featured speaker at next week's meeting of the Greater St. Paul BOMA Security Group. Brubaker, who began his career with the FBI in 1971,...

St. Paul developer launches Heritage Greens project in Cambridge.
November 18, 2004... Byline: Staff St. Paul-based MetroPlains Development and the city of Cambridge broke ground Wednesday on Heritage Greens, a 54-acre, mixed-use neighborhood being developed through a public/private partnership in Cambridge. The...

'Modest gains' ahead for MN's construction economy.
November 18, 2004... Byline: Brian Johnson The overall construction economy, including residential, private non-residential and public projects, should see "modest gains" in 2005, according to the Associated General Contractors of America's chief economist....

Bloomington-based Welsh Cos. employment dispute spills into court.
November 18, 2004... Byline: Burl Gilyard Real estate professionals occasionally remark on the collegial nature of the profession in the Minneapolis-St. Paul area. A recently filed employment lawsuit suggests that all is not always harmonious in local...

Twin Cities' office market may be reaching 'turning point'.
November 18, 2004... Byline: Burl Gilyard The buzz about the Twin Cities office market was "cautious optimism" at the Tuesday meeting of the Minnesota chapter of the National Association of Industrial and Office Properties (NAIOP). According to a new...

Many factors drive up housing costs in Minneapolis.
November 18, 2004... Byline: Burl Gilyard When asked what's driving the high cost of housing, builders are quick to blame the usual suspects: state and local governments, trial lawyers, anti-growth municipalities and even homebuyers themselves. The...

Low-maintenance landscaping seems to be catching on in Twin Cities.
November 18, 2004... Byline: Brian Johnson Support for low-maintenance landscaping, it seems, is growing like weeds. Homeowners who view yard work as a chore rather than a labor of love are naturally drawn to low-maintenance landscapes, which emphasize...

MN Real Estate Briefs: November 18, 2004.
November 18, 2004... Byline: Burl Gilyard In July, the Minneapolis City Council rebuffed a request from Minneapolis-based Hillcrest Development to rezone 3311 Broadway St. N.E. to allow for a Sam's Club in the industrial space. Hillcrest Managing Partner...

Minneapolis-based NorthMarq makes play for a piece of $225M IDS Center deal.
November 18, 2004... Byline: Mark Anderson The pending sale of the IDS Center is one of the biggest real estate stories of the year in the Twin Cities. The John Buck Co., a Chicago real estate development and investment firm, has reportedly signed a letter...

Minneapolis-based Target building distribution center in California.
November 19, 2004... Byline: Staff Target Corp. announced it is building a 1.6 million-square-foot regional distribution center in Rialto, Calif. Construction began this fall and will be complete in summer 2006. Regional distribution centers receive...

MN Legislators look to work together as 2005 session approaches.
November 20, 2004... Byline: Charley Shaw The state Capitol has become a revolving door since the Nov. 2 election, with newly elected members of the House of Representatives preparing for their next stages in life. Steve Simon, a St. Louis Park DFLer who...

Edina ad agency creates holiday campaign for Taco John's.
November 23, 2004... Byline: Bob Geiger Mexican fast-food chain Taco John's is celebrating the 2004 holiday season with Whiplash the cowboy monkey. In a TV ad that was launched Monday, Whiplash is featured riding a dog and decorating Christmas trees in...

Minneapolis-based Piper Jaffray purchases NY-based Vie Securities.
November 23, 2004... Byline: Staff Minneapolis-based Piper Jaffray Cos. announced on Monday that it acquired New York-based Vie Securities. Terms of the deal were not disclosed. The acquisition includes Vie Securities' direct market access and...

CarTika Medical purchased by Plymouth-based CardioTech International.
November 23, 2004... Byline: Staff CardioTech International Inc., a medical device developer and manufacturer, acquired Plymouth-based CarTika Medical Inc., a privately held medical device contract manufacturer. Terms of the deal were not disclosed. ...

Hugo firm gives new life to old lumber.
November 26, 2004... Byline: Brian Johnson Sarah Rice's business card lets customers know that Manomin means "food on the water" or "wild rice" in Ojibwe. But her company - Manomin Resawn Timbers - isn't in the food business: It is part of a growing industry...

Minneapolis-based Swervo Development to redevelop Whitney Hotel.
November 26, 2004... Byline: Mark Anderson The next chapter in the Whitney Hotel's long history is about to begin. Ned Abdul, president of Minneapolis-based Swervo Development, apparently will be the next owner and redeveloper of the Minneapolis...

Departures of long-time employees leave a void at Minneapolis' city development agency.
November 26, 2004... Byline: Burl Gilyard Twelve senior employees of the Minneapolis Community Planning and Economic Development (CPED) department have accepted early retirement incentive packages offered by the city. The departures mean the loss of many...

Paul Moe named to head new post at Minnesota Dept. of Employment and Econ. Dev.
November 26, 2004... Byline: Burl Gilyard Paul Moe, a veteran administrator of business finance programs at the Minnesota Department of Employment and Economic Development, has been named to head the agency's new Office of Business and Community Finance. Moe,...

MN Commercial Real Estate Women meeting to look at St. Paul projects.
November 26, 2004... Byline: Staff A panel at the December meeting of Minnesota Commercial Real Estate Women (McCREW) will examine the real estate market in St. Paul, including riverfront and downtown developments and projects in the Midway area. Panel...

Minneapolis Bldg. Owners and Managers Assn. plans tour of U of M buildings.
November 26, 2004... Byline: Staff The Greater Minneapolis Building Owners and Managers Association superintendents group will get a behind-the-scenes look at three University of Minnesota buildings next Wednesday from 11:45 a.m. to 1:30 p.m. The group...

Minnesota Housing Finance Agency announces winners of awards for affordable housing work.
November 26, 2004... Byline: Staff The Minnesota Housing Finance Agency has announced the winners of its ninth annual Partners in Affordable Housing Awards. The honor recognizes groups and individuals who have helped advance affordable housing in the...

Le Meridien in Minneapolis recognized for design features.
November 26, 2004... Byline: Staff Le Meridien Hotel in downtown Minneapolis received two design awards during the International Hotel/Motel & Restaurant Show in New York City last week. Le Meridien, which opened last year on Block E, received Gold Key...

Mayors to discuss their take on Minneapolis development.
November 26, 2004... Byline: Staff Minneapolis Mayor R.T. Rybak and former Mayor Albert Hofstede will be the featured speakers at the next meeting of the Minnesota chapter of the National Association of Industrial and Office Properties. The meeting is set...

Minneapolis-based Upland Real Estate Group sells three restaurant chain investment properties.
November 26, 2004... Byline: Staff Minneapolis-based Upland Real Estate Group Inc. has sold three Zaxby's properties in Florida and Georgia. The firm sold a 3,524-square-foot Zaxby's investment property in Gulf Breeze, Fla., for $1.8 million, a...

Minneapolis-based Target Corp. goes shopping for more office space.
November 26, 2004... Byline: Burl Gilyard Minneapolis-based Target Corp. continues to shop for additional downtown office space. Corey Whitbeck, director of leasing at IDS Center for the RREEF property management and investment firm, told real estate...

Minneapoliss ad agenecy Carmichael Lynch seeks potential new headquarters.
November 26, 2004... Byline: Bob Geiger After being headquartered in the same space for 17 years, Minneapolis ad agency Carmichael Lynch is considering a move. Mark Feriancek, the agency's chief financial officer, confirmed this week that Carmichael Lynch...

Minneapolis firm buys Golden Valley office park.
November 26, 2004... Byline: Burl Gilyard Minneapolis-based Ted Glasrud Associates Inc. has purchased the Westwood Lake Office Park in Golden Valley. The three-building complex at 8401, 8421 and 8441 Wayzata Blvd. totals 128,081 square feet. Terms of the...

Minnesota firm takes respectful approach to lakeshore development.
November 26, 2004... Byline: Brian Johnson Rising property values, favorable demographics and the lure of the resort lifestyle are among the factors driving lakeshore development in Minnesota. As development pressures mount, a small Minneapolis firm...