Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Janet Moore.

From the email-bag

Posted by: Janet Moore Updated: November 21, 2012 - 3:26 PM

Architect Ken Potts, of the Roseville-based construction and design firm McGough Cos., has been named to the board of directors of the national United States Green Building Council.

The USGBC is a non-profit trade organization that promotes sustainability in the design, construction and operation of buildings. The group is probably best known for the development of the Leadership in Energy and Environmental Design (LEED) green building rating systems, an internationally recognized framework for identifying and implementing green building solutions.

McGough said in a news release that Potts will be one of 15 elected directors who serve with five appointed directors.

He received his BA from Carleton College and his masters of Architecture from the University of Minnesota. He is a licensed architect and a LEED Accredited Professional. He has also been involved with the Minnesota USGBC chapter and has also served on several national USGBC Committees, including the LEED Neighborhood Development and Implementation Advisory Committee

The Savage Sports Center development has been completed and is open to the public, said Minneapolis-based Oppidan Investment Co., a national property development firm.

The 108,110-square-foot seasonal athletic facility is located in Savage Community Park, and was developed with $5 million in city financing. The air-inflated structure has three fields and three batting cages, as well as golf netting. An attached 5,000-square-foot building features concession areas, a lounge, restrooms and offices. The city-owed and constructed the center to provide indoor training space for local youth athetic groups and for members of the community.

The Sports Center will be open from November through April. Rent paid by organizations will help defray operational costs and debt service. From May through October, the dome will be removed, but the turf will remain for use.
Oppidan is a well-known name in the Twin Cities, and has worked with Cub Foods, Gander Mountain and other firms.

Marcus & Millichap Real Estate Investment Services announced the sale of The Corner Shops, a 16,582-square foot retail property in Maplewood. So reports Adam Schlosser, regional manager of the firm’s Minneapolis office, who notes the sale price was $3.2 million. Tenants include Chipotle, FedEx and Sprint.

Mike Berglund, broker/owner of Kontor Realty Group, said he recently closed on the sale of a retail strip mall in Champlin for $1.6 million. Berglund said the Elm Creek Retail Center on North Commerce Drive in the northern suburb completed the transaction in 120 days.

The five-unit center is fully leased with four stores and sold quickly despite “challenges in the retail sector and the abundance of vacant space in Champlin,” he said. Tenants include Darque Tan and Fantastic Sam’s, and two local firms, Compus Computer Clinic and Kaleidoscoops, a coffee, donut and ice cream shop, which leased two spaces for its retail operation and donut production.

Southdale Professional Center I

Southdale Professional Center I

 

Southdale Professional Center II

Southdale Professional Center II

Those 1970s office buildings near the busy corner of 66th Avenue West and Xerxes Avenue South are getting a “multi-million dollar” facelift, now that they’re owned by Thrivent Financial for Lutherans.

The Titus Building at 6550 York Avenue South is being renamed Southdale Professional Center I. And the 3250 Professional Building now has the moniker Southdale Professional Center II, said JBL Companies, which is managing the buildings for Thrivent. Both will be known as Southdale Professional Centers.

The buildings are adjacent to Southdale Center in Edina and are a few blocks from Faiview Southdale Hospital. Both buildings will get fresh paint, new entrance awnings and signage, as well as landscaping, sidewalk and parking lot upgrades. Inside, changes are underway, including painting, floor coverings in common areas, new elevator cabs and lighting.

Dominium, a national apartment development and management company with an office in Plymouth, said it changed its ownership structure after co-founder David Brierton died.

The firm purchased the ownership interest of both Brierton’s estate and co-founder Jack Safar’s. Brierton’s estate and Safar will remain owners in 170 existing partnerships but they’ve sold their interest in future new developments and business ventures.

“A new generation of ownership has taken the helm at Dominium,” said co-managing partner Paul Sween, in a statement.. “We’re proud to have 40 years of history, built on the solid foundation laid by our founders, and this arrangement will help us stay on track for another 40 years and more.”

Janet Moore covers commercial real estate for the Star Tribune.

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