Bizbeat: Burnsville complex part of large commercial portfolio sale

  • Article by: SUSAN FEYDER , Star Tribune
  • Updated: September 28, 2013 - 2:00 PM
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Nicollet Business Campus VII, a 118,125-square-foot building at 12101-12139 Nicollet Av. in Burnsville, sold for $7.3 million to a St. Louis real estate business.

Photo: Dylan Belden • dylan.belden@startribune.com,

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A large industrial complex in Burnsville recently changed hands as part of a sale of five commercial and industrial properties to a St. Louis real estate business.

Nicollet Business Campus VII, a 118,125-square-foot building at 12101-12139 Nicollet Av., sold for $7.3 million, according to the CoStar Group. The price represents a premium over the property’s recent taxable value of $5.7 million, according to Dakota County property records.

Altus Properties LLC paid $28.3 million for the entire five-property portfolio it purchased from Investors Real Estate Trust of Minot, N.D. Two buildings in Bloomington and one each in Brooklyn Park and St. Louis Park also were included in the sale.

The Dakota County Regional Chamber of Commerce will be hosting the 2013 Business Excellence Awards celebration from 7:30 to 9 a.m. Nov. 21 at Lost Spur Golf and Event Center, 2750 Sibley Hwy. in Eagan.

Nominations are due by Friday for the awards for business excellence, community leadership, small business of the year, nonprofit organization of the year, and business owned by a woman or minority individual.

For a nomination form and more information on how to register to attend, contact Jessy Annoni, chamber communications and events manager, at 651-288-9202.

The River Heights Chamber of Commerce’s largest annual fundraiser will take place from 5 to 8 p.m. Thursday, Oct. 3, at VFW 295 Post, 111 S. Concord Exchange in South St. Paul.

The event is open to community businesses and residents, and you don’t have to be a chamber member to attend. This year the event will have a Wild West theme with saloon games and western-style food. There also will be a silent auction, with pre-bidding until 8 p.m. Thursday at www.riverheights.com/auction.

An RSVP is requested. For more details, check out the website www.riverheights.com/events and search for “The Event” or call the chamber office at 651-451-2266. Western or casual attire is recommended.

Strong single-family home construction continues to fuel building activity in Lakeville.

The city has issued building permits with a total valuation of $100.3 million through August. This compares with $73 million for the same period in 2012.

The city issued commercial and industrial permits valued at $8.5 million through August, compared with $9 million during the same period in 2012.

Lakeville has issued permits for 247 single family homes through August with a total valuation of $77.8 million, up from 162 permits valued at $47.2 million for the same period a year ago.

Through the end of August, the city issued the most homebuilding permits among metro-area communities tracked by the Builders Association of the Twin Cities.

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