MINNEAPOLIS-Chasing fast-paced residential growth, retail development and absorption continued to be strong in the first half of 2004, according to a new United Properties report. A new 330,000-sf Ikea store near Mall of America will dominate second-half retail openings.
ST. PAUL-Susan Kimberly, a former city official who has worked with US Sen. Norm Coleman, wins unanimous approval from the St. Paul city council to replace Martha Fuller as director of planning and economic development.
MINNEAPOLIS-Many thought the struggling retail chain would be sold piecemeal. But it remains an open question how the struggling retailer will fare under "financial buyers" who paid $1.65 billion.
BISMARCK, ND-The Stratford, IA-based privately held construction materials company, which operates across Minnesota's southern border in northwestern and central Iowa, will become an operating division of Fred Carlson Co., a division of Knife River.
MINNEAPOLIS-The Bloomington-based commercial real estate firm that has focused mostly on the suburbs buys the two Downtown towers, totaling 614,193 sf, from a partnership of Zeller Realty of Chicago and ING Realty Partners.
STILLWATER, MN-Dick Anderson and Judy Anderson added two suites to the historic Lowell Inn, which had "substantial deferred maintenance" when they bought the property two years ago for $1.5 million.
ST. PAUL-Developer Rich Pakonen has a $34-million renovation planned for the 14-story building on St. Peter Street between Fourth and Fifth streets, and will convert upper levels to 120 condominiums.
ST. PAUL-The two-story format and metropolitan location at 1975 W. University Ave. represents a trend among big box retailers to build in urban areas, which are now seen as growth markets.
MINNEAPOLIS-Target will sell its 20 million sf of Mervyn's stores and four distribution centers to an investment consortium that includes Sun Capital Partners, the Florida-based investment firm that bought Musicland a year ago from Best Buy Co.
MINNEAPOLIS-Despite expansion-minded manufacturing and technology companies, rising steel prices and lack of industrial-zoned land make it difficult and expensive for new development, Bloomington, MN-based United Properties.