Entries by Becky Plemel

Cushman & Wakefield January 2019 Compass Report: Commercial Real Estate Remains Active Even During Late Stages of Record Cycle

The Twin Cities multitenant commercial real estate industry remained active in the second half of 2018, even as multiple property types faced changing occupier and consumer preferences, dramatically outpacing projections for absorption and showing staying power for 2019 and beyond. At the end of 2018, the market’s multitenant properties posted a vacancy rate of 10.9 […]

Hospitality team honored by Lodging Association

The Minnesota Lodging Association has named Ronn Thomas and Tim Storey, our Midwest Hotels Sales Team, as the 2018 Allied Vendor of the Year. Ronn and Tim were recognized at the MLA Awards Gala on January 11. Check out a page on MLA’s website about their award — including a video featured at the MLA […]

Hospitality Team sells Rochester La Quinta

Cushman & Wakefield’s Ronn Thomas and Tim Storey represented Chester Properties LLC in the $7.35M sale of the La Quinta Inn & Suites in Rochester, an 83-room hotel on Highway 63. The sale, which resulted in American Hospitality LLC owning the property, closed just before the end of the year. View article from PostBulletin.

AtWater Group sells Normandale Place

Scott Pollock, Terry Kingston, Tom O’Brien and Avery Ticer represented AtWater Group in the $13 million sale of Normandale Place, located next to Normandale Lake Office Park in Bloomington. The 82,000 sf building is nearly fully leased. View article from Finance & Commerce.

United Properties sells Duluth apartments

Lance Steiger and Robert Dulin represented United Properties in the $21M sale of the Kenwood Village apartments in Duluth. The property, which features 83 units and opened this year completely leased, features ground-floor retail. Lance told Finance & Commerce that the sale is a good sign for outstate Minnesota, since a New York-based firm was […]

C&W team represents owner in Minneapolis apartment sale

Robert Dulin and Lance Steiger represented Yellow Tree Development in the $18M sale of the newly opened 74-unit The Whit Apartments along Blaisdell Avenue in South Minneapolis. The property is just a couple blocks from the Eat Street neighborhood and features amenities such as an on-site fitness center, club room and scenic rooftop deck.

TA puts Centennial Lakes Plaza up for sale

The owner of the Centennial Lakes Plaza retail center in Edina has put the building up for sale, and is expecting that the 29-year-old property will sell for more than $70 million. The 198,717-square-foot center at 7401 and 7501 France Ave. S. is owned Centennial Lakes Plaza LLC, according to Hennepin County property records. The […]

Cantel Medical buys former Sleep Number headquarters in Plymouth

Cantel Medical Corp. paid $31 million for its new Plymouth headquarters, the former home of Sleep Number Corp. The New Jersey-based medical-device company already confirmed it would move its Twin Cities office into the 159,000-square-foot building at 9800 59th Ave. N. It signed a 10-year-lease in May, but it’s now closed on the property and will be its […]