Cushman & Wakefield Hired to Sell Former Saint Paul Public Schools Building

Saint Paul Public Schools has hired Cushman & Wakefield to facilitate a sale of the former Riverside Elementary school building at 900 Albion Avenue in St. Paul.

The team of Paul Donovan, Jaclyn May and Jeremy Striffler will list the property for sale, with the most likely outcome a thoughtful redevelopment of the 5.4-acre site. The site is guided for mixed-use, as part of the West Seventh Street transit corridor, and is also part of the popular Highland neighborhood and a short drive from the St. Paul Central Business District.

“There are a lot of great things happening on West Seventh,” said Tom Parent, Director of Facilities for Saint Paul Public Schools. “But this property isn’t part of the school district’s strategic needs for the next decade, and the resources that go into it are better utilized in supporting our 71 other sites.

The West Seventh Street and Highland Park areas have been magnets for new multifamily, hospitality and retail development and redevelopment during the past decade. Nearby Shepard Road and West Seventh are popular corridors for mixed-use multifamily housing. Positioned on the southwest quadrant of Seventh Street and Interstate 35E, the location provides easy access to the downtown St. Paul core, as well as the Mall of America and Minneapolis/St. Paul International Airport.

For more information on the Saint Paul Public Schools site, visit spps.org/900albion.

MSP Advisory Services Team Leads Site Selection Process for Crescent Cove

After years of planning and fundraising, Crescent Cove, a nonprofit Lindenfelser founded in 2009, is in the process of buying a facility in Brooklyn Center that will one day house the state’s first community children’s hospice and respite home — and one of only a few such facilities in the country. The nonprofit expects to welcome its first families in October.

The MSP Advisory Services Team is leading the site search/selection process with other volunteers for Crescent Cove on a pro-bono basis.

View Star Tribune article.

View Real Estate Journal article.

MN Council on Foundations Leases Space at TractorWorks Building

The MSP Advisory Services Team represented the Minnesota Council on Foundations in their lease of office space at the TractorWorks Building in the Minneapolis North Loop neighborhood.

View the recent “Cool Offices” article featuring the Minnesota Council on Foundations’ office space.

Minneapolis Area Synod of the ELCA Sells Property

The MSP Advisory Services Team represented the Minneapolis Area Synod of the ELCA in the sale of a 3.85 acre property that included a 11,7000 SF church building located at 2544 Highway 100 South in St. Louis Park, Minnesota, for $1,500,000. The Buyer was the Thai Buddhist Center of Minnesota.

The Minneapolis Area Synod of the ELCA synod includes 147 congregations and two Synodically Authorized Worshiping Communities located in and around the City of Lakes — from urban neighborhoods to first-tier suburbs and outlying communities beyond Hennepin County to the south, west, and north. The synod supports their member churches and their rostered and lay leadership.

 

U.S. Bank Completes Office Sale in Green Bay, WI

In partnership with The Boerke Company, Inc., a Cushman & Wakefield Alliance member, the MSP Advisory Services Team represented U.S. Bank in the sale of a 24,984 SF, three-story building located at 417 Pine Street in Green Bay, Wisconsin. The Buyer was The Pine Cat Company, LLC.

U.S. Bancorp is an American financial services holding company based in Minneapolis, Minnesota, that is the parent company of the U.S. Bank National Association, known as U.S. Bank, the 5th largest commercial bank in the United States.

Volunteers of America Leases Office Space

The MSP Advisory Services Team represented Volunteers of America of Minnesota and Wisconsin in the leasing of 6,164 SF of office space at MidAmerica Financial Plaza, 9220 Bass Lake Road, New Hope.  They will relocate the services they currently offer at their Golden Valley clinic in mid-November and are excited to announce a new name for all of their mental health services – Vona Center for Mental Health™.

Volunteers of America of Minnesota and Wisconsin is now in their 120th year, serving the most vulnerable in Minnesota and Wisconsin. In 2015, they served more than 24,000 people and employed a staff of 800 in Minnesota and Wisconsin, in more than 110 locations. They coordinated the efforts of nearly 1,800 volunteers, who contributed over 120,000 hours of service.

Beacon Academy Acquires Site in Crystal, MN

Beacon Academy has acquired the 12-acre site at 3420 Nevada Ave. N. in Crystal, MN, to become an approximate 80,000-square-foot permanent home for the school. Cushman & Wakefield MSP Advisory Services Team worked with the school to identify the ideal site and guided the school through assembling the extended project team, accessing financing, handling the entitlement process with the City, coordinating various requirements of the Minnesota Department Education, and will manage the renovation and construction process over the next year.

Beacon Academy, a public charter school, will move its facilities from its current location in Maple Grove. Its new facility, scheduled to open in the fall of 2017, will offer the opportunity for enrollment growth and access to abundant green space on its new site.

Click on the links below to view local news coverage.

CCX Media Channel 12 News
Real Estate Journal
Sun Post

Blue Cross and Blue Shield of MN Leases Retail Space in Duluth, MN

The MSP Advisory Services Team represented Blue Cross and Blue Shield of Minnesota in their site selection for a third retail store in Duluth.

The team of executive director Paul Donovan, senior associate Jeremy Striffler and senior director Tom Martin helped Blue Cross evaluate and identify a location at the new Maurices headquarters building in downtown Duluth. Blue Cross will be located in a nearly 5,000-square-foot space on the western side of the building, at the corner of Superior Street and Fifth Avenue West and is scheduled to open this summer. Duluth will be the third Blue Cross retail center in the state and the first location outside the Twin Cities metro area. Blue Cross currently operates retail centers in Edina and Roseville, Minnesota.

The new Maurices headquarters is on track to open on April 25, 2016, providing a new home to its 450 corporate office employees located in Duluth. Blue Cross joins Minnesota Power Employees Credit Union (MPECU), which was recently announced as a tenant in the headquarters building.

“Blue Cross is a great fit for our new headquarters, given our overall commitment to employee and community wellness,” said George Goldfarb, Maurices President & CEO. “Blue Cross will be offering new opportunities to learn more about health coverage while providing a community gathering space to discuss health and wellness topics.”

Cushman & Wakefield provides support for the 1,133,000 sq. ft. of Blue Cross real estate in the Twin Cities, including project management, lease administration, transaction management and facilities management. The two companies have partnered for more than 10 years.

Top Brokers in Commercial Real Estate

Led by Paul Donovan, Cushman & Wakefield’s MSP Advisory Services Team was recently named to the Twin Cities Business list of Top Office Brokers.

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