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West End is getting closer
Duke Realty expects to begin construction this spring on a large office and retail project near I-394 and Hwy. 100 in St. Louis Park.
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A $400 million mixed-used development proposed for a key intersection in St. Louis Park is set to take another step forward, with City Council approval expected this week for some preliminary plans and infrastructure changes.
Indianapolis-based Duke Realty Corp. is developing the West End on a 47-acre parcel at Interstate 394 and Hwy. 100. The project calls for 1.1 million square feet of office space, a hotel and about 340,000 square feet of retail space, including a movie theater.
Demolition of several vacant buildings on the site should begin this fall, according to Pat Mascia, senior vice president of Duke's Twin Cities operations. He said the developer is continuing to work with the city on final approval so that construction can begin next spring.
Duke has retained Cincinnati-based Jeffrey R. Anderson Real Estate Inc. as a partner to market the retail portion of the development. Mascia said that discussions have already taken place with some potential tenants but that no deals have been signed.
Cushman buys Northstar
For years, Eden Prairie-based Northstar Partners was connected to Cushman & Wakefield as a member of the New York firm's nationwide alliance of independent real estate companies.
That relationship changed last week when Cushman & Wakefield purchased Northstar. In an interview, principals of both firms likened the deal to a long-engaged couple that finally makes its way to the altar.
Northstar is changing its name to Cushman & Wakefield, but otherwise its operation will be largely unaffected, said Clint Miller, who founded the business in 2002 with Terry Kingston.
Miller, Kingston and Northstar's other employees will remain with the firm, which will maintain its offices in the Twin Cities. Those operations will be combined with Cushman & Wakefield's existing property management business in the Twin Cities.
Miller also has been named executive managing director and Midwest regional manager for Cushman and will help oversee alliance relationships with affiliated firms in several Midwestern cities.
Over the past five years, Northstar had grown to become one of the area's most active commercial real estate dealmakers, with more than 1,600 sale and lease transactions.
The firm has been involved in some of the Twin Cities' most notable office building sales, including 225 South Sixth St. and La Salle Plaza in downtown Minneapolis and Wells Fargo Place in downtown St. Paul. Its local clients have included BPG Properties, Ceridian, First Industrial Realty Trust, MetLife, Opus Northwest, Principal Global Investors, Ryan Companies, Thrivent Financial and Wells Fargo.
Susan Feyder • 612-673-1723
Susan Feyder • sfeyder@startribune.com
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