Finance and Commerce Daily Newspaper, MN articles from September 2004

Finance and Commerce Daily Newspaper, MN archives from September 2004

Park Nicollet Health Services, Allina Hospitals explore opportunities in Maple Grove.
September 1, 2004... Byline: staff Park Nicollet Health Services and Allina Hospitals & Clinics are exploring ways to "meet the growing health care needs" of Maple Grove, the organizations announced Tuesday. The health care systems, in a joint press...

Campbell Mithun in the hunt for Western Union account.
September 1, 2004... Byline: staff Denver-based electronic money transfer giant Western Union is considering Minneapolis ad agency Campbell Mithun as one of four finalists for its $15 million-plus account. Western Union, which in April was acquired by...

Minnesota firms included on AARP's 'best employer' list.
September 1, 2004... Byline: staff Three Minnesota companies are among the top 35 U.S. employers for older workers, according to the AARP. The companies - Gemini Inc. of Cannon Falls, Minnesota Life of St. Paul and North Memorial Health Care of Robbinsdale...

Dolan Media acquires 14 newspapers, Web sites of Lawyers Weekly.
September 1, 2004... Byline: Dolan Media Corporate Staff Dolan Media Company said today it acquired the 14 newspapers and associated Web sites of Lawyers Weekly, Inc., a leading publisher for the legal profession. The deal closed Tuesday, Aug. 31....

Sizzling office condo market shows signs of cooling off.
September 2, 2004... Byline: Mark Anderson One of the few sectors in the office market that's created a certified buzz in the last couple years may be on the verge of its own slowdown, but don't look for the office condo movement to disappear. The small...

Smart growth bears fruit in Twin Cities.
September 2, 2004... Byline: Burl Gilyard A long time ago, it seems, Ted Mondale and others touted the "smart growth" concepts as guiding principles for regional development. As the population of the metro area expanded, Mondale and others argued, the...

Oldest building of warehouse district gets a makeover.
September 2, 2004... Byline: Burl Gilyard The oldest building in the Minneapolis Warehouse District is getting a facelift. The 139-year-old Pacific Block building - a three-story brick structure that was home to Acme Electronics in recent years - is being...

Associated General Contractors of MN plans night at Twins-White Sox game.
September 2, 2004... Byline: staff Associated General Contractors of Minnesota is planning an outing to a Minnesota Twins game later this month. The group will attend the Twins contest against the Chicago White Sox on Wednesday, Sept. 15, starting at 7:10...

Hamline Univ. sets dedication for new Klas Center.
September 2, 2004... Byline: staff Hamline University of St. Paul will dedicate the Robert and Alexandra Klas Center during a ceremony on Saturday, Sept. 11. The event will begin at 10:30 a.m. on the plaza of the new building, 1537 Taylor Ave. The $7.1...

Commercial loan originations climbed in second quarter.
September 2, 2004... Byline: staff The Mortgage Bankers Association says commercial mortgage loan originations showed steady growth nationally in the second quarter. The Washington, D.C., based group said commercial mortgage bankers originated $33.2...

OSHA offering construction safety seminars.
September 2, 2004... Byline: staff The Minnesota office of the Occupational Safety and Health Administration will sponsor a series of seminars this month on correcting and preventing common hazards at construction sites. Each session will begin at 7:15...

Senior interior architect joins Parker Durrant firm.
September 2, 2004... Byline: staff Ira Keer has joined the Minneapolis office of the Parker Durrant architectural firm as senior interior project architect. Keer has 25 years of architectural experience, including working for the Ellerbe Becket and Walsh...

Upland sells two Pizza Hut properties.
September 2, 2004... Byline: staff Upland Real Estate Group Inc. of Minneapolis sold two Pizza Hut properties in the southern United States. One restaurant was a 3,894-square-foot net-leased investment property in Sterling, Ky., that sold for $1.2 million....

Medtronic mum on expansion plans, but speculation persists.
September 2, 2004... Byline: Burl Gilyard For the record, medical device giant Medtronic Inc. has no comment about its plans for expansion in the northern suburbs. "Nothing has been finalized in any location regarding Medtronic's proposed expansion. This...

Madison Marquette faces obstacles in Wayzata project.
September 2, 2004... Byline: Brian Johnson Madison Marquette's effort to redevelop a 150,000-square-foot shopping center in the heart of Wayzata has received a measure of support from the city, but don't expect construction to begin any time soon. The...

MN Real Estate Briefs September 2, 2004.
September 2, 2004... Byline: Burl Gilyard The city of Minneapolis has some stray real estate in need of grooming and a new, loving owner. The former home of the Minneapolis Animal Shelter, 506 11th Ave. N., is up for sale. The city's shelter moved to a new...

Brookdale officials remain optimistic amid gloomy outlook.
September 2, 2004... Byline: Bob Geiger There have been brighter days at Brookdale Center. The 1.1 million-square-foot retail center in Brooklyn Center announced in May that it would launch a $500,000 back-to-school ad campaign around the theme "Close to you."...

Rogers-based Veit Cos. uses non-disruptive process for sewer work in downtown St. Paul.
September 4, 2004... Byline: Brian Johnson It's a major city project that's been in progress for more than 12 years in St. Paul, but most people can't see what's going on. And that's just the way it's supposed to be. The city is in the middle of a...

Redevelopment plans take shape in Rosemount.
September 4, 2004... Byline: Mark Anderson The city of Rosemount should be ready to start showing its goals for a major downtown redevelopment effort to potential developers following its city council meeting next Tuesday. The council is expected to...

Democrats and GOP poised to ramp up their advertising.
September 4, 2004... Byline: Bob Geiger Now that the Democratic and Republican national conventions are over, Minnesotans can expect to see plenty of political advertising between now and Election Day. After Labor Day weekend, Democratic presidential...

New Wells Real Estate regional office part of shift toward managing own properties.
September 9, 2004... Byline: Mark Anderson Wells Real Estate Funds will keep the US Bancorp Center's veteran management team at work in the Minneapolis tower as the Atlanta-based real estate investor moves to strengthen its property management nationwide. ...

Former justice has real estate on the mind - and in his blood.
September 9, 2004... Byline: Burl Gilyard Jim Gilbert's resignation as a justice on the Minnesota Supreme Court was effective Aug. 9. The next day he reported for work at his new job: Jim Gilbert, real estate attorney for hire. Gilbert, wanting to hit the...

Island Station power plant to get condo rehab.
September 9, 2004... Byline: Burl Gilyard Who wants to live in an old power plant that sits on a floodplain? And who wants to pay $300,000 to $1.2 million for the pleasure? Apparently, a lot of people do. Plans call for the former Island Station power...

CCIM sets 10th annual commercial real estate forecast.
September 9, 2004... Byline: staff The Minnesota-South Dakota chapter of Certified Commercial Investment Members (CCIM) will sponsor its 10th annual commercial real estate forecast on Wednesday, Sept. 22. The event will be held from 8 a.m. to noon in Thornton...

CSM Corp. buys hotel in Chicago area.
September 9, 2004... Byline: staff Minneapolis-based CSM Corp., a diversified real estate development company, has added a Hawthorn Suites in the Chicago suburb of Lincolnshire to its national hotel portfolio - the company's third hotel purchase of the year....

New Opus Group unit will build military housing.
September 9, 2004... Byline: staff Minnetonka-based Opus Group has formed a new unit to develop and build military housing and has named an executive to head the division. Julie Kimble was appointed vice president of Opus Military Communities LLC. ...

Harlan Hallquist named to executive post at Witcher Construction.
September 9, 2004... Byline: staff Witcher Construction Co. of Eden Prairie has named a new vice president of marketing and business development. Harlan Hallquist has 22 years of management experience in the industry, including a similar marketing and...

CTMT represents Opus Group in Woodbury Lakes land deal.
September 9, 2004... Byline: staff Colliers Turley Martin Tucker announced that it represented Opus Group in the acquisition of 56 acres for the Woodbury Lakes lifestyle center project. Opus plans to co-develop the 393,000 square foot project with the Kansas...

Fifth Street Towers sold for $117.5 million.
September 9, 2004... Byline: staff The Fifth Street Towers in downtown Minneapolis have been sold for $117.5 million to CB Richard Ellis Investors. The purchase price for the 1,021,939-square-foot towers represents a price of nearly $115 per square foot. ...

Flyte Tyme Studio facility fetches $2.325M.
September 9, 2004... Byline: staff Flyte Tyme Studio recording facility in Edina has been sold for $2.325 million. Producers/entrepreneurs Jimmy Jam and Terry Lewis have relocated their recording business to Los Angeles. The building at 4100 West 76th...

College of St. Catherine hosts leasing seminar.
September 9, 2004... Byline: staff Molly McCloskey, an associate with The Staubach Company, will serve as the keynote speaker on Thursday, Sept. 16, for "Smart Move! Finding and Leasing the Right Space for Your Growing Business." The program will be held...

Commentary: Pondering the meaning of lifestyle centers and lofts.
September 9, 2004... Byline: Burl Gilyard What if journalists were real estate developers? The very idea likely frightens both developers and journalists alike. Who would want to live in such a world? But just ponder the idea for a moment. Not too long,...

Commissioning is growing part of post-construction services.
September 9, 2004... Byline: Brian Johnson When the Red Lake school district has a problem with the mechanical systems in one of its facilities, the first people to know are sitting hundreds of miles away in an Eden Prairie office building. "We can control...

NAHB pitching a platform of its own this election season.
September 9, 2004... Byline: Bob Geiger Lost amid the political posturing at the this summer's Republican and Democratic national conventions was the unveiling of an ad campaign from the National Association of Homebuilders that is designed to elevate housing...

Fruen Mill may morph from relic of milling past to condo present.
September 9, 2004... Byline: Bob Geiger Paul Fry wants to convert the aging Fruen Mill cereal processing and milling equipment facility into a grain elevator-with-a-view condominium development. Fry, who owns Frich Development, has purchased three acres of...

North American Properties hops aboard condo trend.
September 9, 2004... Byline: Burl Gilyard Condos? Or apartments? North American Properties was originally planning to develop another apartment project in Eden Prairie. But after surveying the current Twin Cities residential real estate market, the project was...

Minneapolis ad agency gains media placement for Korbel Champagne.
September 10, 2004... Byline: staff Minneapolis ad agency Carmichael Lynch has been awarded the media placement portion of Korbel Champagne's $5 million ad account. The switch in media placement, through which an ad agency receives a percentage of ad...

Minneapolis-based Possis Medical named one of America's fastest growing companies.
September 10, 2004... Byline: staff Possis Medical Inc. has been named in Fortune magazine's 16th annual list of America's fastest growing companies. The Minneapolis-based company is ranked No. 23 on Fortune's list and was one of two medical device...

MN Marketing Briefs September 11, 2004.
September 11, 2004... Byline: staff After raising less than $10,000 since launch three weeks ago, nonprofit group Operation Truth is hoping Northwoods Advertising Inc. can bring some buzz to its election-year effort to address the concerns of U.S. troops...

International Decision Systems names new CEO.
September 14, 2004... Byline: staff International Decision Systems Inc. announced that Sadu Thinakal has been appointed chief executive officer. Thinakal most recently served as the president of the mortgage servicing business unit of Fiserv Inc. "We...

Chaska officials consider 'anti-monotony' housing code.
September 16, 2004... Byline: Brian Johnson When it comes to housing styles, the city of Chaska wants to celebrate diversity. The growing city, hoping to foster a small-town atmosphere and strike a blow against "cookie cutter" developments, is pondering...

Company fights New Brighton's efforts to redevelop 'Northwest Quadrant'.
September 16, 2004... Byline: Burl Gilyard The suburban city of New Brighton has long had designs on a 100-acre parcel dubbed the Northwest Quadrant at Interstates 694 and 35W. The city has been in talks with Medtronic Inc. for a potential corporate campus on...

NAIOP compiles list of metro area development fees.
September 16, 2004... Byline: Burl Gilyard This week the Minnesota chapter of the National Association of Industrial and Office Properties (NAIOP) issued its first-ever survey of the costs of doing business in local cities. Surveys were sent to 100 local...

Eagan looks to redevelop old town center site.
September 16, 2004... Byline: Mark Anderson The city of Eagan has taken another step toward rejuvenating its old town center at Cedar Avenue and Highway 13, identifying planning partners for a major redevelopment effort that should begin next spring. The...

Welsh Cos. reports strong interest in 90-year-old church.
September 16, 2004... Byline: Brian Johnson A part of the city that already boasts an art museum and a children's theater could get another infusion of the arts if the right buyer comes along for the 90-year-old Twin City Fellowship building in the Whittier...

Braun Intertec hires technical director at Bloomington office.
September 16, 2004... Byline: staff Minneapolis-based Braun Intertec Corp. has named Rebecca Bilek as technical director. She will work in the company's Bloomington office, where she will oversee the testing and interpretation of environmentally important...

Minuti-Ogle names vice president of operations.
September 16, 2004... Byline: staff Joseph E. Warren has been named vice president of operations at drywall contractor Minuti-Ogle Co. Inc. of Oakdale. Warren has 17 years of experience in the construction industry, primarily in the specialty-contracting...

MN Real Estate Briefs September 16, 2004.
September 16, 2004... Byline: Brian Johnson They say you can't fight city hall, but you can fight plans for a new city hall complex. Some Lake Elmo residents are doing just that, as they speak out against a city proposal to build a new government complex on...

Construction group plans Heritage Park site visit.
September 16, 2004... Byline: staff The Minnesota Construction Association will sponsor a site visit to the Heritage Park housing project on the near north side of Minneapolis on Wednesday, Sept. 29. The event will run from 7:30 a.m. to noon, starting at...

New group takes over ownership of apartment building.
September 16, 2004... Byline: staff A Minneapolis building that has been home to hundreds of retired teachers and seniors over the past 42 years has a new nonprofit owner. The board of directors of Teachers Homes Inc., a nonprofit group formed in the 1950s to...

NAIOP raises $12,000 for Bridging Inc.
September 16, 2004... Byline: staff The Minnesota chapter of the National Association of Industrial and Office Properties raised $12,000 for Bridging Inc. during the chapter's 14th annual golf tournament in Mendota Heights on Aug. 9. The money was raised...

TKDA opens branch office in Grand Rapids.
September 16, 2004... Byline: staff The TKDA architectural and engineering firm of St. Paul has opened a branch office in Grand Rapids, Minn., about 200 miles north of the Twin Cities. Richard Sobiech, president and CEO of TKDA, said the firm opened the...

Maplewood retail center sold to Los Angeles investors.
September 16, 2004... Byline: staff Bloomington-based Welsh Cos. has sold Birch Run Station Shopping Center in Maplewood to a Los Angeles-based private investment group. Senior Vice President Bob Pounds and Vice President Tim Prinsen, both of the Welsh Cos....

Calhoun Square is subject of MSCA meeting.
September 16, 2004... Byline: staff The Minnesota Shopping Center Association will hear about redevelopment plans for Calhoun Square when the group meets on Wednesday, Oct. 6. The event will be held at the Sheraton Bloomington Hotel, 7800 Normandale Blvd.,...

Investors showing interest in Minneapolis office market.
September 16, 2004... Byline: Mark Anderson The sale and price of the Fifth Street Towers - the second major office building to be sold in downtown Minneapolis this summer - provided a measure of the investment community's continuing appetite for Class A...

Sexton Building sold; changes may loom.
September 16, 2004... Byline: Burl Gilyard The venerable Sexton Building in downtown Minneapolis has been sold for the first time in its history. Plans are not definite, but the new owner of the Class C office building is thinking about rehabbing the building...

Is luxury condo market saturated?
September 16, 2004... Byline: Burl Gilyard David Bernard Builders & Developers, a division of Roseville-based The Rottlund Co., finished the bulk of the work on The Metropolitan Lofts in downtown Minneapolis in July. Units in the 22-condo building at 545 Second...

Residential construction still going strong in Twin Cities.
September 17, 2004... Byline: staff August was a banner month for residential construction in the Twin Cities as permits for planned units were at their highest level since at least 1997, according to statistics released Wednesday by the Builders Association of...

Grow Boating Marketing Task Force narrows finalist list.
September 17, 2004... Byline: staff A group of recreational boating manufacturers and retailers called Grow Boating Marketing Task Force has narrowed to four the list of finalists for its $10 million marine promotion and advertising account. Minneapolis ad...

Schwan's drops Campbell Mithun, seeks new agency.
September 17, 2004... Byline: Bob Geiger Marshall-based Schwan's Sales & Enterprises is quietly conducting a review that includes at least seven ad agencies for its $15 million-plus consumer frozen foods ad account after parting ways with Minneapolis shop...

Angus Industries purchased by management team and trust.
September 18, 2004... Byline: staff Goldsmith Agio Helms and its client Angus Industries Inc. announced the purchase of the company by the Angus management team and the company's employee stock ownership plan and trust. Angus formerly was controlled by...

MN Marketing Briefs: September 18, 2004.
September 18, 2004... Byline: Bob Geiger Bolger Concept to Print, a southeast Minneapolis firm that specializes in commercial printing, has hired ad agency veteran Jay Gould and begun offering advertising creative services. Gould, a former president of the...

Finance and Commerce names Top Women in Finance winners<P>.
September 18, 2004... Byline: staff Fifteen financial professionals have been named winners of the 2004 Finance and Commerce Top Women in Finance award. The women will be recognized during a luncheon on Friday, Oct. 29, at Windows on Minnesota on the top...

Buyout discussions between SPRI and shareholder end.
September 21, 2004... Byline: staff Discussions regarding a possible transaction between Donald J. Williamson, majority shareholder of Sports Resorts International Inc. and SPRI ended because of potential adverse tax consequences to the company and its...

Periscope snags Minnesota Twins ad account.
September 21, 2004... Byline: Bob Geiger Minneapolis ad agency Periscope has been awarded the estimated $1 million ad account for the Minnesota Twins, beating out seven other agencies that were competing for the contract. Dave St. Peter, president of the...

Fallon Worldwide announces more executive changes.
September 22, 2004... Byline: staff Fallon Worldwide has named Michael Wall as president of the shop's international operations. Wall, 37, will continue as managing partner of the Minneapolis-based ad agency's London office, which he co-founded. He will...

Sensible Land Use Coalition looks at Blaine project.
September 23, 2004... Byline: staff The Sensible Land Use Coalition's September meeting will examine a strategy for managing wetlands and improving development opportunities in Blaine. Steve Hobbs, administrator of the Rice Creek Watershed District, and...

Veit Cos. fills two executive positions.
September 23, 2004... Byline: staff Two executives have joined Rogers-based Veit Cos. Charles Geisler was named marketing manager at the construction services firm, while David Trumble was hired as estimator and project manager for a Veit unit that specializes...

Cities Management promotes names new CEO.
September 23, 2004... Byline: staff Michael Egelston has been named CEO of Cities Management Inc. and its sister companies, SenEarthCo Inc. and Under Construction Services Inc. The companies provide a suite of services for multi-housing communities. ...

Hearings set for October on library renovations.
September 23, 2004... Byline: staff Public hearings are planned next month for two Minneapolis libraries - East Lake and North Regional - that are scheduled to be renovated and redesigned. The East Lake hearing will be on Tuesday, Oct. 12, from 6:30 to 8...

Safe Harbor names business development director.
September 23, 2004... Byline: staff Safe Harbor Properties Exchange, a Minneapolis firm that specializes in tenancy-in-common (TIC) investment properties, has hired Gary Ascher as director of business development. Ascher, who specializes in TIC marketing...

Another phase launched at Upper Landing project.
September 23, 2004... Byline: Mark Anderson Construction started this week on the next-to-last phase of St. Paul's Upper Landing redevelopment, a 21-acre housing, recreational and commercial reclamation effort along the city's historic riverfront. The new...

Grand Meadow's domed school touted for safety and efficiency.
September 23, 2004... Byline: Brian Johnson Domed facilities may not be fashionable for professional baseball teams anymore, but they suit the Grand Meadow school district just fine. The southeastern Minnesota school district, in the aftermath of the...

Former Minneapolis radiator factory gets a new lease on life.
September 23, 2004... Byline: Bob Geiger Minneapolis-based Frich Development plans to transform a 99-year-old former radiator factory at 903 S. Washington Ave. into a showroom for pricy stone sinks and other plumbing fixtures. A restaurant is also planned for...

Redevelopment project draws fire in Brooklyn Park.
September 23, 2004... Byline: Brian Johnson Donna Faust has lived in the Villa Del Coronado apartment building on Brooklyn Park's Zane Avenue for the past six years. Some city officials use words like "blighted" and "aging" to describe the decades-old property,...

Plans take shape for Dinkytown's Varsity Theater.
September 23, 2004... Byline: Burl Gilyard Restaurateur and impresario Jason McLean has found his niche in Dinkytown, recently launching his third project in the University of Minnesota business district. In his latest deal, he signed a lease at the iconic...

City planning to tap new tax-credit program for Sears project.
September 23, 2004... Byline: Burl Gilyard The city of Minneapolis is planning to request $135 million in New Markets Tax Credits (NMTC) to spur urban development projects, including the Midtown Exchange on the site of the former Sears complex in south...

GelStat opens new research and development laboratory in St. Paul.
September 25, 2004... Byline: staff GelStat Corp. on Friday announced that the company opened a new research and development laboratory. The 2,000-square-foot facility, located in St. Paul, is fully operational and will be run by Douglas Root, chief scientist....

St. Jude Medical to acquire Endocardial Solutions.
September 25, 2004... Byline: staff St. Jude Medical Inc. announced the company will purchase Endocardial Solutions Inc. for $11.75 per share, approximately $273 million. St. Paul-based Endocardial Solutions develops, manufactures and markets surgical...

Minneapolis-based Fallon Worldwide may be considering China, India offices.
September 25, 2004... Byline: Bob Geiger When Minneapolis-based Fallon Worldwide named the head of its London office as president of Fallon's international operations on Tuesday, it set the stage for possible Fallon offices in the world's two most-populated...

Fuel cell demonstration set for Eden Prairie Library.
September 28, 2004... Byline: staff Hennepin County officials will show off the state's first public natural gas fuel cell Wednesday at the new Eden Prairie Library. The event, scheduled for 11 to 11:30 a.m. at 565 Prairie Center Dr. in Eden Prairie, is...

Delta Environmental Consultants buys InteGreyted International.
September 28, 2004... Byline: staff St. Paul-based Delta Environmental Consultants Inc. acquired Albany, N.Y.-based InteGreyted International. Terms of the deal were not disclosed. The acquisition adds offices in New York, New Jersey and Florida,...

Analyst warns of overheated housing market.
September 30, 2004... Byline: Burl Gilyard Talk of an overheated housing market seems to be increasingly common. At some point, that could begin to put the brakes on the feverish pace of local residential development, including multi-family projects. Has...

Housing on the horizon for former school site.
September 30, 2004... Byline: Burl Gilyard Minneapolis-based Master Development Group is one step closer to rehabbing the former Brookside School, also known as the Brookside Community Center, in St. Louis Park into 46 units of residential housing. The...