Laserfiche WebLink
United Properties Market Activity <br />Page 4 of 4 <br />• Shoppes on Maine in Rochester, a 750,000-sq.-ft. retail center, opened with SuperTarget and <br />Lowe's Home Improvement. <br />INVESTMENT MARKET <br />Back to Top <br />Oifice <br />• Ryan Companies sold Marketpointe One, at 4300 Market Pointe Drive in Bloomington, to <br />McMorgan & Company. The 236,000-sq.-ft. property was built in 2000 and is 100% occupied. <br />Major tenants include UnitedHealth Group and Wells Fargo. <br />• Swervo Development purchased the 675,814-sq.-ft. 180 East Fifth Street building in St. Paul <br />from Frauenshuh Companies. Formerly First Trust Center, the property is the headquarters for <br />Gander Mountain. <br />Multi-Family <br />• Osprey Property Companies sold the 324-unit Burningham Apartments property at 1505 East <br />Burnsville Parkway in Burnsville to Johnson Management. The transaction, valued at <br />approximately $23.65 million, closed in August. <br />• Parkway Apartments on Chestnut Drive in Eden Prairie was sold to Invesco in late June. <br />Healey Ramme Company sold the 375-unit property for approximately $36.85 million. <br />Retail <br />• North American Properties and Principal Global Investors sold Calhoun Square to BlackRock <br />Realty. This 144,000-sq.-ft. property traded for just under $50 million in August. <br />Industrial <br />• First Industrial sold an office/flex portfolio of nine buildings totaling 766,240 sq. ft. to Hines <br />RErf. The properties, located in Eden Prairie, Golden Valley, Hopkins, Bloomington and St. <br />Paul, were 86% leased to 41 tenants. The average sale price was $114 per square foot. <br />• Inland Group purchased the 219,664-sq.-ft. Atlas Cold Storage building at 240 Chester Street <br />in St. Paul from Atlas Cold Storage. This was asale-lease-back transaction with a sale price of <br />$15.2 million and part of an 11-property portfolio. <br />• OPUS Northwest sold Elm Creek Commerce Center on 109th Avenue in Champlin to KBS. This <br />231,416-sq.-ft property was built in 1995. <br />Copyright 2002-2007. United Properties. All Rights Reserved. <br />3500 American Boulevard West, Minneapolis, MN 55431 <br />Privacy Policy ~ Contact UP ~ Download Hard Coov ~ Request Hard Coov <br />http://outlook.uproperties.com/features/2007/20070ctober MarketActivity.htm 10/31/2007 <br />