Chicago investment firm acquires Burnsville medical building

  • Article by: SUSAN FEYDER , Star Tribune
  • Updated: July 27, 2013 - 4:09 PM

The Minnesota Valley Surgery Center in Burnsville, one of 17 metro-area clinics operated by Twin Cities Orthopedics, recently changed hands.

Harrison Street Real Estate Capital of Chicago paid $37.8 million for the building at 1000 W. 140th St. The property was built in 2006 and recently was expanded.

The purchase price represents a considerable premium over the building’s most recent assessed value of about $8.6 million, according to Dakota County property records.

The seller was an affiliate of Twin Cities Orthopedics, which will continue to lease the building, according to documents filed with the county.

New homes for Lakeville

The site of a large housing development in Lakeville that stalled during the recession has a new owner.

K. Hovnanian Homes recently purchased the 49-acre property, which at one time was owned by Country Joe Homes but went back to the lender during the housing market downturn.

A purchase price was not disclosed for the property, at 179th Street near Flagstaff Avenue. It had been marketed at about $1.3 million by the local office of CB Richard Ellis.

The new development is called Autumn Meadows and will consist of 88 single-family homes, with prices starting in the low $300,000s. The development is in the Farmington School District, according to the builder’s website.

Meanwhile, Lennar Corp. has begun to market homes at another Lakeville development, Summerlyn, near Dodd Boulevard and W. 194th Street.

The builder has purchased 139 lots in the subdivision, with plans for a first phase with 36 homes priced from the mid-$400,000s to the low $500,000s. The development is in the Lakeville School District.

Rosemount bistro opens

Hong Kong Bistro, a family-owned fast casual restaurant, recently opened at 15065 Canada Av. W. in Rosemount. The building formerly housed a Pizza Hut outlet.

The new restaurant’s staff has more than 10 years of cooking experience. Many of the menu items are based on dishes from the owners’ home in southern China, not far from Hong Kong.

Eagan building sold

JTS Holdings I LLC of Vadnais Heights recently acquired the 10,000-square-foot retail building at 3090 Courthouse Lane in Eagan from a private investor for $1.42 million, according to the CoStar Group. Tenants at the 12-year-old strip center include Jewelry Exchange and Dickey’s Barbeque Pit.

The purchase price was slightly higher than the most recent taxable value of $1.24 million, according to Dakota County property records.

Send your Dakota County business news to susan.feyder@startribune.com.

Susan Feyder • 952-746-3282

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