Frauenshuh Commercial Real Estate Group has acquired Minnetonka-based BTO Development LLC to expand its property management and development capabilities.
As part of the development, BTO President and owner Allen Hill will join Frauenshuh as the senior vice president of development services. BTO’s three other full-time employees have also transferred and will operate under the Frauenshuh umbrella.
“This transaction is a tremendous opportunity for us to expand our breadth of real estate services both on a local and national level,” Dean Williamson, president of Frauenshuh, said in a statement.
Founded as a property management company in 1983, Frauenshuh has grown to provide a host of services from tenant and buyer representation to construction administration.
Last year, the Minneapolis firm was given an award from NAIOP Minnesota for its project coordination services for CenterPoint Energy’s expansion of its regional operations facility in Golden Valley.
Commercial development at 50th and Bryant in Minneapolis is approved
A developer wants to turn a car repair shop in south Minneapolis into a one-story commercial building with multiple tenants including a restaurant.
The property at 50th Street and Bryant Avenue in the Lynnhurst neighborhood has had an auto-related business at the site since 1923. Currently, Joe’s Brake Shop has its garage there. Developer Terry Jacobs wants to remove the existing building and construct a one-story, nearly 10,000-square-foot building with three or four tenants.
City staff had earlier encouraged Jacobs to build a multiple-story building, but he said it was not financially feasible.
As part of the development, Jacobs applied for a variance to not have on-site parking, citing the size of the lot. Neighbors debated that request.
The Minneapolis planning commission approved the plans Monday, though members added some conditions, such as planting more trees at the site.
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