Mortenson purchases building next to its Golden Valley campus
M.A. Mortenson Co. has purchased an office building next to its Golden Valley headquarters as it looks to expand its campus.
According to a certificate of real estate value that became available last week, North Wirth Associates, an affiliate of Mortenson, bought the four-story building at 4050 Olson Hwy. for $8.3 million from Ted Glasrud Associates, a real estate development and property management firm.
With the purchase, Mortenson owns all three buildings at its campus and the parking lots that come with the sites. Last year, the construction and development company announced it would build a larger parking ramp and a new six-story office building for its growing workforce.
"We are outgrowing the current footprint at our Golden Valley campus and have been exploring expansion options at our headquarters," Mortenson spokesman Cam Snyder wrote in an e-mail.
"The purchase allows for further room to grow as we continue to evaluate the expansion and site improvements previously discussed with the city of Golden Valley," he added.
Mortenson now has about 600 employees who occupy 185,000 square feet in two buildings at the Golden Valley campus.
Nicole Norfleet
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