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Sons of Norway site for sale in Uptown

The Sons of Norway have determined it’s time to find a new home as the cultural organization puts its Uptown property on the market and begins the search for a new headquarters.

After more than 55 years at its location at W. Lake Street and Holmes Avenue near Lake Calhoun, the Sons of Norway have put their 60,000-square-foot building and parking lot for sale. The property is made up of five separate parcels and could offer potential developers more than 2 acres of prime real estate in the heart of the busy Uptown neighborhood.

“With all of the momentum in the Uptown area, now is the time to market our property and focus on creating an exciting new home for our employees, where we can serve our community, members and stakeholders for decades to come,” said Sons of Norway chief executive Eivind Heiberg, in a statement.

CBRE is marketing the property as well as helping the organization find a new space for its more than 40 employees.

Just a block away from the Calhoun Square shopping center and the busy Lake Street and Hennepin Avenue intersection, CBRE representatives said the site is suited for housing development, but it could offer a variety of uses.

Ackerberg Group sheds its property management business

Minneapolis-based Ackerberg Group decided to pass most of its property management business to Welsh and Colliers International to focus more on growing the firm’s portfolio.

As part of the change, nine Ackerberg staffers were hired by Welsh to continue to work on their properties and another handful moved on to other firms with the help of Ackerberg earlier this month. Ackerberg currently has about 30 employees.

“We realized that the property management business is something that’s nice but not necessary … We could be better partnering with Welsh then we could do on our own,” Chief Executive Stuart Ackerberg said.

He said he wanted to spend more of the company’s time on investments and developments.

Ackerberg has always had some form of property management as part of its services since Norman Ackerberg, Stuart’s father, started the firm in the 1960s as Norman Construction Co. By the mid-1990s, property management was a large part of the company, which ranked as the seventh-largest manager in the Twin Cities market.

Stuart Ackerberg said he thought the firm needed to be realigned to concentrate more on quality rather than quantity of projects. Ackerberg sold some of its accessory accounts, including the brokerage and property management divisions to Welsh. Over the years as Ackerberg has continued to acquire new properties, it has slowly began to manage its properties again.

Welsh manages about 20 million square feet of space and will get another 1 million from the Ackerberg portfolio. Welsh will help with the day-to-day management of the properties while Ackerberg will still be involved in terms of long-term planning, leasing and design.

Some of Ackerberg’s newer projects included the Miller Textile Building in northeast Minneapolis and The Finn apartment building that will open in St. Paul’s Highland Park in the summer.