EDEN PRAIRIE, MN-SuperValu takes a $240-million restructuring hit and loses $1.7 billion in revenue with the defection of wholesale client Kmart. However, it plans to add up to 15 superstores and 120 smaller stores.
MINNEAPOLIS-The golf superstore retailer opens a store in Salt Lake City, its 20th overall. The stores average 17,000 sf and offer PGA instruction with indoor driving areas and full-sized putting green.
ST. PAUL, MN-Despite a surge in financing, the rating agency is impressed with the city's redevelopment success, fiscal restraint and relatively low debt. Standard & Poor's gave the city a AAA rating for the first time.
MINNEAPOLIS-Ryan Cos., which is developing office buildings on three contiguous blocks Downtown, hires artist and landscape architect Brad Goldberg to develop a streetscape along Nicollet Mall.
MINNEAPOLIS-Going from a REIT to a software company has proven to be a difficult journey for Stonehaven Realty Trust. Despite stable cash flow from real estate and increase revenue, the company still finsihes in the red.
MINNEAPOLIS-Preservationists may have tough time defending the much-remodeled theater against the Walker Art Center's plans to demolish the structure to make room for parking, says a local architecture critic.
LORETTO, MN-The Metropolitan Council sees the city's to maintain its rural setting plan as fitting its overall "smart growth" strategy. Loretto anticipates adding 33 households and 75 jobs by 2020.
MINNEAPOLIS-Padilla Speer Beardsley will anchor the four-story, 80,000-sf building, which is part of city's plans to redevelop the riverfront. The site is part of a former railroad yard and has been vacant for years.
ST. PAUL, MN-Metro Council chairman Ted Mondale credits urban renewal and smart growth policies for population increases in Minneapolis and St. Paul. The growth of 29,000 in the '90s reverses longstanding trends.