Finance and Commerce Daily Newspaper, MN articles from October 2006

Finance and Commerce Daily Newspaper, MN archives from October 2006

Anti-icing upgrade on Minnesota bridges aims to save lives, costs.
October 3, 2006... Byline: Adam Johnson Last winter, officials at the Minnesota Department of Transportation received calls from several drivers who were concerned that their vehicles had been sprayed by a mysterious fluid emanating from the pavement. In...

Different technology to be used to bring Minnesota's new commuter line together.
October 3, 2006... Byline: Adam Johnson North-metro commuters expecting a transit experience that mimics the Hiawatha Line light rail system will be in for a surprise when the Northstar Corridor begins service in 2009. Since the Federal Transit...

Southwest Minnesota State set to break ground on new stadium.
October 3, 2006... Byline: Brian Johnson Southwest Minnesota State University is preparing to break ground on a new "regional events center" that will host college football games and other activities. The $20 million facility -- to be located on the SMSU...

Two Twin Cities home remodelers win Integrity Award.
October 3, 2006... Byline: Adam Johnson It may seem improbable that two local home-remodeling businesses would take home top honors this year in the regional Better Business Bureau's annual Integrity Award contest. But insiders and the businesses themselves...

Construction appeals to more students in post-Katrina New Orleans.
October 3, 2006... Byline: Deon Roberts NEW ORLEANS -- While his schoolmates are studying intensely for college entrance exams, 18-year-old Winfield Lorenzo is focused on table saws and routers. Working a piece of wood in a dusty, noisy shop at Bonnabel High...

District Energy of St. Paul wins 'innovation' award.
October 3, 2006... Byline: F&C Staff Report District Energy of St. Paul has won the Midwest Energy Efficiency Alliance's third annual "Inspiring Innovation Award." The award, presented at the Sept. 27-28 MEEA's Midwest Energy Solutions Conference in Chicago,...

Thursday seminar in Minneapolis focuses on projects that 'go south'.
October 3, 2006... Byline: F&C Staff Report Litigation and default issues in commercial development projects are among the topics of an upcoming seminar in St. Louis Park. The seminar, "What to Do When the Deal Goes South," presented by Minneapolis law firm...

Waconia-based Medallion Cabinetry opens Illinois facility.
October 3, 2006... Byline: F&C Staff Report Waconia-based Medallion Cabinetry Inc. has opened a manufacturing facility in Lanark, Ill. The 180,000-square-foot facility has state-of-the-art technology for the fabrication and assembly of kitchen and bathroom...

Minnesota Associated Builders and Contractors honors Rep. Ray Cox.
October 3, 2006... Byline: F&C Staff Report The Minnesota Associated Builders and Contractors has named State Rep. Ray Cox as its "Public Official of the Year." Minnesota ABC recognized Cox, R-Northfield, for his "exceptional legislative record and ability...

Public owners involved in construction projects nationwide encounter major cost increases.
October 3, 2006... Byline: Brian Johnson The Chanhassen school district is learning a hard lesson in construction inflation. This fall, the district will ask voters to approve a $92.9 million bond referendum to build a new Chanhassen High School. That's...

Construction industry somewhat optimistic about 2007.
October 3, 2006... Byline: Brian Johnson Construction officials are more pessimistic about the future than they were at this time last year, but they're still "cautiously optimistic" about their prospects for 2007, according to a new survey. The 2007 CIT...

Northside Renaissance: Construction company headed to Cottage Park in Minneapolis.
October 5, 2006... Byline: Mark Anderson Stuart Ackerberg is leading his company into a new enterprise this fall, venturing into a part of Minneapolis where his personal connections run deep but his commercial ones don't. Ackerberg, principal in The...

Investment firm Wells buys offices in Plymouth.
October 5, 2006... Byline: Burl Gilyard On Tuesday, Wells Real Estate Funds announced its acquisition of a large office building in Plymouth, a sign of continuing interest from the investment market in suburban office properties. The 184,000-square-foot...

Hotel activity is on the rebound for the Midwest market.
October 5, 2006... Byline: Mark Anderson Investors have been sinking a record amount of money into U.S. hotel acquisitions this year, with year-end sales totals likely to reach $30 billion, according to hospitality researcher Jones Lang LaSalle. And the...

Minneapolis-based Leonard, Street and Deinard sign long-term early renewal.
October 5, 2006... Byline: Burl Gilyard The Minneapolis-based Leonard, Street and Deinard law firm has inked an early, long-term renewal at Fifth Street Towers. The approximately 140,000 square foot lease secures the building's largest tenant for about 10...

Sentence to Service crew to tackle Fort Snelling's Upper Bluff stabilization.
October 5, 2006... Byline: Bill Clements On Monday, a crew of minimum-security prisoners from Hennepin County is set to begin a training project to stabilize one of the dilapidated buildings along Fort Snelling's Upper Bluff. Stabilizing the old gym--known...

St. Louis Park-based Northco Real Estate Services adds staff, branches into development.
October 5, 2006... Byline: Burl Gilyard Grubb & Ellis/Northco Real Estate Services is a well known name in local real estate circles, but the company is stretching in new directions since it changed hands over the summer. In June, an investment group headed...

Boston firm buys Centennial Lakes Plaza in Edina.
October 5, 2006... Byline: Burl Gilyard No one is talking, but Boston-based TA Associates Realty has purchased Centennial Lakes Plaza, a fully leased retail center in Edina. The community center offers 196,880 square feet of space, per data from the...

Edina office building going office condo.
October 5, 2006... Byline: Bob Geiger A Twin Cities development group is planning to convert an Edina office building into an office condominium, hoping to attract buyers looking for a good business address with solid potential for appreciation. The address...

Hennepin County studies weigh redevelopment options.
October 5, 2006... Byline: Bill Clements Just for a second imagine enjoying the majestic views of the Minnesota River Valley from your condo perched atop the Upper Bluff of Fort Snelling. Now, forget it. "Residential use is not viable" on the Upper Bluff,...

Minneapolis-based ESG tabbed to help design Two Twenty Two.
October 5, 2006... Byline: Finance & Commerce Staff Seattle, Wash.-based Milliken Development Group has named Minneapolis-based Elness Swenson Graham Architects Inc. (ESG) and Vancouver-based IBI/HB Architects to design Two Twenty Two, a mixed-used...

Bassett Creek Valley plan near downtown Minneapolis comment period nears end.
October 5, 2006... Byline: Finance & Commerce Staff The 45-day period during which the public can comment on the 2006 Bassett Creek Valley Master Plan is set to end October 15. The new master plan document contains numerous changes from the master plan...

Minneapolis-based Griffin Cos. adds to team, finds lease space.
October 5, 2006... Byline: Finance & Commerce Staff Suzette Retttinger recently joined Griffin Cos. Retail Team as a sales and leasing associate providing services to tenants, buyers and owners needing specialized knowledge of retail markets throughout the...

Commercial real estate on tap for MN Commercial Assn. of Realtors breakfast.
October 5, 2006... Byline: Finance & Commerce Staff Several experts on commercial development will address the next meeting of the Minnesota Commercial Association of Realtors, on Wednesday, Oct. 11. The distinguished panel will share examples of...

Minneapolis investment group buys manufacturer.
October 5, 2006... Byline: Finance & Commerce Staff CAPP Seville Inc., a Minneapolis-based real estate investment group, and Chicago-based Merit Capital Partners have entered into a sale and leaseback agreement for $8.4 million for the Winona, Minn.-based...

Minneapolis-based Upland Real Estate Group closes store sale via 1031 exchange.
October 5, 2006... Byline: Finance & Commerce Staff Minneapolis-based Upland Real Estate Group recently sold a Kohl's Department Store in Wadsworth, Ohio, for $9.8 million to a private investor through a 1031 Exchange. The 88,488-square-foot Kohl's store --...

Minneapolis-based Tegra Group promotes Johnson to senior associate.
October 5, 2006... Byline: Finance & Commerce Staff The Tegra Group Inc. has announced the promotion of Dan Johnson to senior associate. Johnson joined the Tegra Group in 2004 and has since assisted over 40 organizations in planning, negotiating, and...

Real estate agents hire woman to cleanse spirits from homes.
October 6, 2006... RALEIGH, NC -- Some people would say B.J. Wall is a psychic, but she calls herself a communicator. Wall says she sees and talks with spirits. Real-estate agents call her to cleanse spirits from houses that won't sell; by homeowners who see,...

Deal may be in works to develop Snelling Avenue bus barn in St. Paul.
October 7, 2006... Byline: Bill Clements Finally, a deal may be in the works to develop the most prominent piece of vacant real estate in St. Paul -- the Snelling Avenue bus barn between University Avenue and I-94. But not everyone is happy about the...

Minnesota Marketing Briefs: October 7, 2006.
October 7, 2006... Byline: Bob Geiger This week's media reporting of the E. coli outbreak linked to California-grown spinach was a potential black eye for advertising icon Green Giant -- the perpetually grinning vegetable products persona for General Mills...

Commercial lender keeps $26M award, may get more.
October 7, 2006... Byline: Ann W. Parks BALTIMORE, MD -- The use of a former Sam's Club as a production studio for the HBO series The Wire might have been thrilling to Baltimore television fans -- but not to a commercial lender. The Court of Special Appeals...

To ease area traffic congestion, Plymouth opens its first park-and-ride facility.
October 10, 2006... Byline: Adam Johnson "This is a milestone in Plymouth," Mayor Judy Johnson announced at the opening ceremony for Station 73 last Friday, Plymouth's first park-and-ride facility. While the city was the first Twin Cities suburb to "opt out"...

Suburban transit facilities call on Minneapolis-based LSA Design.
October 10, 2006... Byline: Adam Johnson While the addition of Station 73 is a "milestone" for the city of Plymouth, it is but one project among many in Minneapolis-based LSA Design's growing portfolio of high-profile transit facilities. The 11-member firm is...

Minnesota's county jails become latest building trend.
October 10, 2006... Byline: Brian Johnson When Wright County opened its existing jail in 1991, county officials thought they would be set until at least 2012. But it wasn't long before the 103-bed lockup in downtown Buffalo was busting at the seams. By the...

New Wright County jail is designed for efficiency, growth.
October 10, 2006... Byline: Brian Johnson Wright County's new $43 million jail and law enforcement center is on the drawing board. The new facility -- which will include a law enforcement center and a 260-cell jail connected by a central lobby -- will be...

Expansion of 104-year-old Carnegie library in Stillwater, MN, worth wait.
October 10, 2006... Byline: Brian Johnson It took six years, from planning through completion, for the city of Stillwater and library officials to expand and renovate the 104-year-old Carnegie library at 224 N. Fourth St. on Stillwater's north bluff. But...

Public gets chance for input on Minnesota Twins ballpark.
October 10, 2006... Byline: Adam Johnson Few sports fans are given the chance to influence the design of a major ballpark. But Minnesota residents have the opportunity to do just that on Oct. 23, when a newly formed Design Advisory Group is scheduled to host...

New border facility along Minnesota's northern border would improve safety, security.
October 10, 2006... Byline: Adam Johnson Minneapolis-based Julie Snow Architects will design a new facility for the U.S. Border Station in Warroad, 90 miles west of International Falls. At about 52,000 square feet, the project would be a major expansion over...

Highway 61 ramp under construction by MN Dept. of Transportation.
October 10, 2006... Byline: Finance and Commerce Staff Construction is under way on a new ramp lane from northbound Highway 61 to eastbound Interstate 694 in Maplewood. The new lane, which could be open to traffic by the end of the week, will allow motorists...

Oct. 24 meeting in Arden Hills to focus on Minnesota rail projects.
October 10, 2006... Byline: Finance and Commerce Staff Three upcoming rail projects are the focus of an Oct. 24 meeting in Arden Hills. The 9:30 a.m.-to-noon meeting, intended for general and specialty contractors, will offer details about the bidding...

Communications manager joins Bloomington-based Braun Intertec.
October 10, 2006... Byline: Finance and Commerce Staff Bloomington-based Braun Intertec Corp. has named a new manager of marketing communications. Elizabeth Wortman will oversee corporate communications for the engineering and environmental consulting and...

Minneapolis-based Kodet Archtiectural Group wins national award.
October 10, 2006... Byline: Finance and Commerce Staff Minneapolis-based Kodet Archtiectural Group has garnered a national Design Honor Award from the American Institute of Architects' Interfaith Forum on Religion. The award, to be presented at the IFRAA's...

City of Shakopee, builders settle fee dispute.
October 10, 2006... Byline: Finance and Commerce Staff The city of Shakopee and two local homebuilder groups have settled a dispute over the city's building permit fees. The settlement, related to a lawsuit that accused the city of overcharging builders for...

Bunge grain elevator to be redeveloped into multi-income housing project.
October 12, 2006... Byline: Mark Anderson The pieces are finally falling into place for an ambitious multi-income housing project that will showcase the reuse of one of Minneapolis' iconic architectural forms -- its grain elevators. Project for Pride in...

Graves-brand hotel proposed in Uptown.
October 12, 2006... Byline: Bob Geiger Minneapolis-based Graves Hotels.Resorts is partnering with Minneapolis developer Stuart Ackerberg and real estate developer Clark Gassen on a proposed $50 million boutique hotel in Uptown. Plans for the 140-room hotel --...

Ryan plans next downtown Minneapolis office project.
October 12, 2006... Byline: Burl Gilyard Minneapolis-based developer Ryan Companies US Inc. has begun early planning for a new office tower in downtown Minneapolis. "We have begun initial planning for what we believe will be our next downtown office tower at...

Property swap in works for St. Paul bus barn site.
October 12, 2006... Byline: Bill Clements The Metropolitan Council can proceed with a possible property swap with developer RK Midway in a deal that could result in a new Metro Transit bus barn site. The regional planning group's transportation committee...

Capital city catches eye of investors.
October 12, 2006... Byline: Burl Gilyard The commercial real estate investment market has defied gravity in recent years, with properties changing hands for ever-higher prices even as occupancy and rental rates remained stagnant. While Minneapolis tends to...

Office vacancy nears 25 percent.
October 12, 2006... Byline: Burl Gilyard As office vacancy across the market continues to decline, the latest numbers out of downtown St. Paul tell a different story. According to the 2006 Market Report from Greater St. Paul BOMA (Building Owners & Managers...

Buth to retire as head of St. Paul BOMA group.
October 12, 2006... Byline: Burl Gilyard A small note near the end of BOMA's latest market report broke the news that Greater St. Paul BOMA President Bill Buth is retiring. Buth's last day with the organization will be at the end of March. Buth has headed the...

Yamamoto Moss buildings pulled from market.
October 12, 2006... Byline: Bob Geiger Three adjacent buildings that Minneapolis ad agency Yamamoto Moss owns in the Warehouse District are no longer for sale after the firm agreed to be acquired by Plymouth-based Mackenzie Marketing. Terms of the deal were...

CB Richard Ellis shopping 78-acre Wicht Industrial Park in Dayton.
October 12, 2006... Byline: Burl Gilyard There's more industrial development slated for the booming Interstate 94 corridor between Maple Grove and St. Cloud. CB Richard Ellis is now marketing parcels in the Wicht Industrial Park in Dayton. Jim DePietro,...

Edina Realty holding "Condos & Cocktails" to promote Nicollet project.
October 12, 2006... Byline: Bob Geiger With another marketing campaign set to launch for the stalled Nicollet high-rise condo project, Edina Realty is hoping to boost pre-sales for the proposed downtown development by mixing condominiums and cheer. Dubbed...

Steve Christoff joins Minneapolis office of Leo A Daly.
October 12, 2006... Byline: Finance & Commerce Staff The Leo A Daly architectural, planning, engineering and interior design firm has named Steve Christoff the director of business development at its Minneapolis office. Christoff, who will lead business...

Coldwell Banker Burnet buys Stillwater firm.
October 12, 2006... Byline: Finance & Commerce Staff The Coldwell Banker Burnet residential real estate firm of Edina has acquired the assets of Century 21 Pauley in Stillwater. The independently owned and operated Century 21 affiliate will now operate as...

Colliers Turley Martin Tucker names research manager.
October 12, 2006... Byline: Finance & Commerce Staff Jim Mayland is the new research manager at the Twin Cities office of Colliers Turley Martin Tucker. Mayland has more than 10 years of experience in the commercial real estate industry. Most recently, he was...

Filmmaker featured at MNCREW meeting.
October 12, 2006... Byline: Finance & Commerce Staff Scott Moore, director and producer of the movie "Building at a Crossroads," will be the guest speaker at the next meeting of Minnesota Commercial Real Estate Women. The event will be held Wednesday, Oct....

Regions Hospital to reveal plans for $179M project.
October 12, 2006... Byline: Finance & Commerce Staff St. Paul-based Regions Hospital will unveil plans on Friday for its $179 million expansion project. Hospital officials will display renderings and illustrations during a 12:30 p.m. event in the hospital...

Welsh Cos. adds four employees.
October 12, 2006... Byline: Finance & Commerce Staff Bloomington-based Welsh Cos. has hired two longtime Twin Cities property managers and two recent University of Minnesota graduates. Patrick Kriske jonied the firm as general manager for the MSP Midway...

Minnesota Marketing Briefs: October 14, 2006.
October 14, 2006... Byline: Bob Geiger Minneapolis ad agency Colle + McVoy has fired John Jarvis, the firm's chief executive officer and chief creative officer, just five weeks after the agency moved into new offices in the Minneapolis Warehouse District. The...

Minnesota Construction Association plans visit to Fabcon plant in Savage.
October 17, 2006... Byline: Finance and Commerce Staff The Minnesota Construction Association will sponsor a tour of the Fabcon plant on Wednesday, Oct. 25, from 10:30 a.m. to 12:30 p.m. at 6111 W. Highway 13 in Savage. Fabcon, which manufactures and erects...

Nebraska-based Olsson Associates adds services at Edina office.
October 17, 2006... Byline: Finance and Commerce Staff Olsson Associates, a Nebraska-based engineering and planning firm, is expanding its presence in Minnesota. The company is adding municipal, urban design and planning services at its Edina office with the...

Mixed-use development planned for Plymouth.
October 17, 2006... Byline: Finance and Commerce Staff CSM Corp. plans to develop a 5-acre Plymouth site with a mixture of uses. The development near Highway 55 and Northwest Boulevard will include retail and commercial uses, including an extended-stay hotel....

New single-point diamond bridge design gains popularity.
October 17, 2006... Byline: Brian Johnson Single-point diamond bridges appear to be the wave of the future, especially in the south metro area. The Richfield City Council last week approved a single-point diamond design for the new Lyndale Avenue Bridge over...

St. Cloud to break ground on new library.
October 17, 2006... Byline: Adam Johnson St. Cloud is finally getting a new library after more than a decade of discussions, site revisions and funding debates. Hopes are high that the long-gestated project will not only double current space but become a...

Valleyfair in Shakopee promises a wild ride with $6.5 million coaster project.
October 17, 2006... Byline: Brian Johnson A $6.5 million construction project in Shakopee promises to deliver twists, turns and traveling speeds of more than 50 miles per hour. It's not a low-speed highway or a high-speed bike path. It's a 3,113-foot-long...

City of Shakopee, builders settle fee dispute.
October 17, 2006... Byline: Brian Johnson The city of Shakopee overcharged residential building permit applicants by more than $1.4 million last year, according to an independent study that examined the cost of services provided by the city. The study was...

The evolution of school design.
October 17, 2006... Byline: Adam Johnson It's no secret that schools have changed over the past few decades. Today, there are previously unfathomed security concerns, as well as frustrations over the use of technology in the classroom, from cell phones to...

Golden Valley-based Knutson Construction hires senior vice president.
October 17, 2006... Byline: Finance and Commerce Staff Golden Valley-based Knutson Construction Services has hired Douglas Jandro as a senior vice president. Jandro previously worked for 28 years at the Kraus-Anderson construction company of Minneapolis, most...

University of Minnesota seeks general contractor proposals for TCF Stadium.
October 17, 2006... Byline: Finance and Commerce Staff The University of Minnesota has put out a request for qualifications for general contracting services related to the proposed TCF Stadium. The RFQ, published in the Oct. 16 state register, seeks a...

Maple Grove-based Rachel Contracting adds project manager.
October 17, 2006... Byline: Finance and Commerce Staff Rachel Contracting has hired Dave Lyste as project manager. Lyste has six years of experience in construction contracting and consulting. A graduate of North Dakota State University, Lyste received his...

Minneapolis-based Griffin Cos. handles leasing for Solomon Real Estate Group.
October 19, 2006... Byline: Finance and Commerce Staff Minneapolis-based Griffin Cos. has agreed to represent Solomon Real Estate Group of Eden Prairie on five retail leasing projects. They are as follows: * The 500,000-square-foot Ramsey Town Center in...

Bloomington-based Paramount Real Estate Corp. hires former Best Buy exec.
October 19, 2006... Byline: Finance and Commerce Staff Nancy Powell has joined the sales and leasing division of Bloomington-based Paramount Real Estate Corp. She previously was real estate manager for Best Buy Co. of Richfield and founded A&E Construction, a...

Liberty Property Trust completes lease deals in Twin Cities area.
October 19, 2006... Byline: Finance and Commerce Staff Malvern, Pa., based Liberty Property Trust has signed four new tenants for 37,087 square feet of space in the Twin Cities market. MultiSource Manufacturing LLC signed a long-term lease for 22,585 square...

National Association of Industrial and Office Properties meeting focuses on China.
October 19, 2006... Byline: Finance and Commerce Staff Development in China will be the subject of next Tuesday's breakfast meeting of the Minnesota chapter of the National Association of Industrial and Office Properties (NAIOP). The event will be held at the...

Meeting planned for Plymouth library.
October 19, 2006... Byline: Finance and Commerce Staff Residents in the Plymouth area can offer their ideas for a new library at an upcoming meeting. The event, dubbed a "Community Conversation," will be held from 7 to 8:30 p.m. on Wednesday, Nov. 1, at the...

Accenture Tower in Minneapolis uses ultrasonic bird repellent devices to drive away pigeons.
October 19, 2006... Byline: Bill Clements A few years ago, the pigeon problem at Accenture Tower in downtown Minneapolis was sometimes so bad that anybody standing on the building's Third Avenue side was, ahem, "vulnerable" to what birds leave behind. "It...

Slow, steady growth seen in real estate.
October 19, 2006... Byline: Burl Gilyard Real estate market studies typically should be taken with a few grains of salt. Reports by different firms can vary widely due to different methodologies and other factors. But a new crop of market reports contains...

Minneapolis-based CSM Lodging looks to Plymouth for next hotel.
October 19, 2006... Byline: Mark Anderson CSM Lodging President Rob Dann had an easy time researching the Interstate 494 and Highway 55 location that will be the site of the next hotel for the growing Minneapolis-based chain. "I drive by it every day on my...

Peter Atsidakos to reopen landmark downtown Minneapolis dining destination.
October 19, 2006... Byline: Burl Gilyard Peter is returning to reopen Peter's Grill. Peter Atsidakos, who ran the restaurant for two decades, plans to reopen the landmark downtown Minneapolis dining destination by the end of November. The restaurant, on the...

Contractor Jim Stanton not worried about his major new condo development in downtown Minneapolis.
October 19, 2006... Byline: Burl Gilyard A major new condo development under construction in this market? You bet. Maybe you've driven by the site of the former Liquor Depot on the edge of downtown Minneapolis and wondered: "What the heck? How can they do...

T-bill rates deliver a surprise for commercial investors.
October 19, 2006... Byline: Mark Anderson Low borrowing costs have been one of the great gifts to real estate investors for most of the last four years. A combination of economic edginess and big cash surpluses overseas were the source of those low prices --...

Former military buildings in sourth Minneapolis get new life as apartments.
October 19, 2006... Byline: Bob Geiger County, state and federal officials partnered to develop 140 rental apartments for lower-income residents, near the Veterans Affairs Medical Center at 54th Street and Minnehaha Avenue in south Minneapolis. The $12.3...

Neighborhood group reviewing project for $50 million boutique hotel in Uptown Minneapolis.
October 19, 2006... Byline: Bob Geiger The Lowry Hill East Neighborhood Association (LHENA) reacted favorably last week to plans for a proposed boutique hotel in the Uptown neighborhood, despite a six-month moratorium on new development in the area. Plans for...