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 Kristen Leigh Painter.

CRE Mailbag

Posted by: Janet Moore Updated: May 21, 2013 - 10:53 AM

It's been a busy week, and a few things piled up. Here are some items from your blogger's email bag:

Minneapolis-based RJM Construction recently began renovations for the Bush Foundation and for Minnesota Philanthropy Partners in St. Paul's US Bank Center. Work on the 32,000-square-foot office space, located at 101 E. Fifth St., will be complete by August.

RJM will rehab the 23rd floor for Minnesota Philanthropy Partners' 65 employees, and the 25th floor for the Bush Foundation's 50 employees. The 24th floor will be renovated as shared space for the two. 

Other project partners include property manager Cassidy Turley and architect HGA.

A 27-building portfolio of industrial properties in the Twin Cities has been listed by Colliers International.

The properties are located in a seven-city area, including Edina, Minnetonka, Eagan, Burnsville, Bloomington, New Hope and Fridley. They can be purchased as a complete portfolio, in groups, or individually. Each property is worth an average of $2.3 million.

Tim Prinson, senior vice president for Colliers in Minneapolis-St. Paul, said in a statement that the portfolio has "only been available as a whole, something only large investors would be able to acquire. Now that they're available individually, smaller, local investors can take advantage of these great properties in outstanding locations." 

Another project that has broken ground is the Deephaven Woods Senior Living complex. Located on the campus of the Church of St. Therese in Deephaven, the two-story development consists of 78 unites of independent, assisted living, memory care and care suite apartments, with on-site amenities that include a chapel, heated underground parking, outdoor patios, porches, gardens and walking paths.

The church has partnered with Ebenezer Society to form a joint venture to build Deephaven Woods. It is being constructed by Minneapolis-based Kraus-Anderson.

Janet Moore covers commercial real estate for the Star Tribune.

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