Saturday January 5, 2013
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.
Posts about Vikings
Stadium group to name construction firm Feb. 1
Posted by: Janet Moore Updated: December 31, 2012 - 3:50 PM
Feb. 1 will be a crucial day in the development of the new $975 million Vikings Stadium.
On that day, the Minnesota Sports Facility Authority, which will own and operate the stadium, will choose a construction manager -- the folks that will actually build the structure.
Naming the construction firm was delayed a bit to "accommodate requests from proposers for more time to develop proposals," said MFSA Chair Michele Kelm-Helgen, in a statement.
The design of the stadium by architect HKS Sports & Entertainment will be unveiled in the spring, with a groundbreaking slated for the fall. The new facility is expected to open in time for the Vikings season in 2016.
Janet Moore covers commercial real estate for the Star Tribune.
Star Tribune sells parking lot for $1.8 million
Posted by: Jim Buchta Updated: November 14, 2012 - 1:04 PMSeveral weeks ago Just Listed reported that the Star Tribune had sold some of the land it owns to a pair of Twin Cities developers who plan to build upscale apartments. That deal just closed, and we now know that TE Miller Development and Curt Gunsbury paid $1.8 million for the one-acre site - a portion of a parking lot that’s directly across from the Star Tribune’s printing plant and distribution building in the Minneapolis Warehouse District.
The Strib still owns several downtown parcels, including land near the building that houses the company’s business offices and newsroom and is adjacent to the yet-to-be-built Vikings stadium. TE Miller and Solhem Companies acquired the Strib’s parking lot to build 137 apartments that are now being referred to as 815 2nd St. Apartments.
Construction will start this week with occupancy by an opening in late summer 2013. Stay tuned for more details. In the meantime, here's a link to the 815 2nd St. site plan that was submitted to the city.
Star Tribune sells North Loop land
Posted by: Jim Buchta Updated: August 28, 2012 - 4:39 PM
The Star Tribune is selling a one-acre parcel in the heart of the Minneapolis Warehouse District to a partnership that plans to build a six-story building with 138 apartments. That partnership includes veteran apartment developer, Curt Gunsbury of Solhem Cos and TE Miller Development.
Terms weren't disclosed, but Steve Yaeger, the Star Tribune's director of marketing and communication, said that the deal is expected to close by the end of the year. The parcel in play is part of a 3.38-acre site that's directly across from the Star Tribune's Heritage printing facility, which is currently being used as employee parking. Long before the Star Tribune acquired the property in 1984, it had been used by the railroad as a staging area for train cars that were being repaired.
The Star Tribune owns several pieces of land, including several parcels that are adjacent to the yet-to-be-built Vikings Stadium.
Local firm hired to market Strib land
Posted by: Janet Moore Updated: May 29, 2012 - 6:48 PMJust days after the Minneapolis City Council cleared the way for a new Vikings stadium near the Metrodome, the Star Tribune confirmed it has hired a commercial real estate firm to market its property near the project.
Publisher Michael Klingensmith said the Star Tribune has hired Russ Nelson from the Minneapolis firm Nelson, Tietz & Hoye to market four city blocks owned by the newspaper. “It’s no secret we would be interested in selling,” Klingensmith said in a note to employees Tuesday, “But we’re not in any hurry.”
The Star Tribune owns five blocks near the Dome, but only one is part of the $975 million stadium plan – a parcel at the northeast corner of Park Ave. and Fourth St. Nelson, Tietz & Hoye will help assess the value of that block, as well.
In a statement, Klingensmith said the Star Tribune hired the firm “ to help us with our overall real estate strategy and to represent us in the event of a sale. Russ has worked with the Star Tribune on and off for many years and is extremely knowledgeable about the downtown real estate market.”
A previous deal called for the Vikings to buy four of the Star Tribune blocks for $45 million fell apart in 2007. The team, citing turmoil in the credit markets, backed out of the deal.
Janet Moore covers commercial real estate for the Star Tribune.
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