Plymouth offices bought, sold in a year

One year ago, Minneapolis-based Falcon Ridge Partners purchased a Plymouth office building leased by UnitedHealth Group, then signed the tenant to a new lease as that tenant fixed up the building.

This week, the 178,385-square-foot property at 6150 Trenton Lane N. sold to Omaha-based Waitt Co. for $24.25 million, according to a certificate of real estate value made public on Monday. Waitt, which already owned an office building leased to Medtronic down the road at 4600 Nathan Lane, decided to buy in the Twin Cities again when it learned that the building was on the market, said Waitt Senior Vice President Clark Horgan.

This time around, the Trenton Lane building won’t be going anywhere for a while.

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Dominium purchases new headquarters in Minnetonka

Minnesota’s largest apartment owner will soon have a new tenant: itself.

Long based in Plymouth, Dominium will soon be relocating its headquarters to the Crest Ridge Corporate Center at 11055 Wayzata Blvd. in Minnetonka. The company purchased the 120,000-square-foot property for $18.5 million on Dec. 27, according to a certificate of real estate value made public Monday. The price works out to $154.16 per square foot.

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’80s fixer-upper draws $15 million in Maple Grove

A Georgia investor that worked the past two years to improve the fortunes of an aging Maple Grove office building has nearly doubled its money in selling to a Twin Cities buyer.

Atlanta-based Redline Property Partners sold the Arbor Ridge office building at 6900 Wedgwood Road N. for $15 million, according to a certificate of real estate value made public on Dec. 5. The company bought the 85,404-square-foot building in 2017 for $8.42 million.

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Maple Grove offices make $16 million comeback

A Chicago investor that purchased a long-empty Maple Grove office building seemed to find value in the property thanks to a new lease signed by the parent company of St. Jude Medical.

Syndicated Equities paid $22.77 million for a 97,257-square-foot building at 6820 Wedgwood Road N., according to a certificate of real estate value made public Friday. Built by Minneapolis Ryan Cos. US Inc. in 2005 at the southwest quadrant of Fish Lake Road East and Interstate 494, the Class A office building was home to offices for The Hartford insurance company. The Hartford moved out of the building in late 2014 after Prudential Insurance Co. of America’s acquired The Hartford in 2012.

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Just Sold: Developer buys one of Woodbury’s last farms

Drivers on Dale Road in Woodbury still see the 120-acre Burandt family farm, much has it has been for more than a century.

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Lake Calhoun Flats sell for $33 million

Weidner Apartment Homes has added apartments with a fading Lake Calhoun view to grow its Minnesota portfolio to 18 properties. Kirkland, Washington-based Weidner paid $33 million for the 158-unit, two-building complex at 3036 W. Lake St., according to a certificate of real estate value made public on Monday.

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New York investor buys 2 vintage Minneapolis buildings for $21 million

Both owned by the same family for four decades.

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Hot Time for Hotels

The Twin Cities hotel market is thriving, powered by a strong economy and a region that ass added and absorbed plenty of new inventory. The vigor of this commercial real estate sector has made it a fruitful time for buyers and sellers who are seeking to capitalize on investment opportunities.

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C&W team represents Alidade in portfolio sale

The Capital Markets team of Avery Ticer, Scott Pollock, Tom O’Brien and Terry Kingston represented Alidade Capital in the sale of three buildings — office properties at 12400 Whitewater Drive in Minnetonka, as well as the Olympia Business Park buildings at 1325 and 1401 American Boulevard east in Bloomington. The properties sold for a combined $10.5 million.

C&W team sells condo building in NE Minneapolis

The team of Lance Steiger and Robert Dulin sold the Crescent Trace building, at 1101 Main Street SE in Minneapolis, for $12.4 million. The deal puts the ownership of 55 condo units in the hands of Blackhawk Investment Group. The former owner is Scott Weber, a local investor.