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Agenda - Council - 12/10/2013
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Agenda - Council - 12/10/2013
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Meetings
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Agenda
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Council
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12/10/2013
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GOLF <br />northco' <br />HiIlcrest Graff Club - St Paul, MN Sold: S4,300,000 <br />Property High ights; Cha IIenging la Hole Course • Pool • Par 72 • Renovated in 2000 112 Acres-13,4C8 5F <br />Clubhouse • 6.850Yards From Back Tees . PrIrate Course • Located In the TWin Cities <br />Deal I-lighlightsr Northco I Golf Fa Hospitality c"NIGH"}was able to dispose of he property above asking <br />price with numerous offers presented. This was a very positive result as the group -that eventually <br />purchased the course agreed to keep It a private golf course named Hillcrestfor a nurnber of years. <br />RESOV & HOTEL Four Seasons Resort - PernbI ne,WI Sold' Undisclosed Price <br />Property Highlights: Historic Hotel • Opened in 1905.55All Suite Roams Offer Modern, Amenities 24,000 <br />SF Clubhouse i2 F4aorsj • Pro Shop . 9 Hales Coif Course • 193,21Tota l Acres • 121.54 Acres Vacant Land <br />Along Menomonie River - ideal -for golf course expansion • 3 Banquet Halls <br />Deal Highlights: Four Seasons Island Resort was going through slgnifcant financial stress during the time <br />cfthis transaction, With NGH involved the owner and lender were able to get the most out oftheproject <br />despite the costs associated with bringingt his property back to its original splendor, <br />RESIDENTIAL LAND Edgwater Estates - Rogers, MN Sold: 90% Lots Sold <br />Property Highlights: 30 Lots • 3 Horne Styles • Premium Lake Lots • Villa Horne tots Traditional Flume Lots <br />Deal High ights: It was decided that the best way to approach this property was to jointly market the land <br />as individual and bulk. Northcv read numerous bulk offers but with the saleof Individual lots at market <br />prices the owner elected to hold off on a discounted bulk sale. With continued individual tat sales the bank <br />that owns the property was able to make a substantial profit an serlirp the Tots individually. <br />INDUSTRIAL <br />Former Twin Cities Mirror& Glass- uuri svi Ile, MN Sold: S1,950,000 <br />Property Highlights: Industrial/Office 54,575 SF • 9,0005F Office • 24'Clear Height <br />Deal Highlights: This was a two tenant industrial building with Cass A office finishes throughout the front. <br />Fortner tenant vacated upon foreclosure. The buyer intended to occupy both sides with separate business <br />lines. The price was slightly discounted due to the required quick close before year end. <br />RETAIL <br />Fortier 5nyder's Drug Store - Anoka, MN Said_ S 550,000 <br />Property High lights: 11,980 SF • Vacant Since 2007 • Strong Traffic Counts • Excellent Visibility County <br />Changed Access in 2007 to Right -In Right -Out <br />Deal Highlights: This was a vacant Snyder's'Drug propertythat was listed by 3 other brokers over the course <br />of it's vacancy The buyer was a speculative red estate group. By working closely with the bank, Northco <br />marketed the property to a close in a relatively short period of time, <br />CAR DEALERSHIP FormerDealership- Oak Park Heights, MN Sold: Re -Use / Re-DeveI <br />with Assemblage <br />Property Highlights: 1E410 SF guild inE 5.77 Acres • Adjacent Parcels for Assemblage for Re-Devclopement <br />Deal Highlights: This former dealership property is pal of a reuse /re -development project which entailed <br />an assemblage of pa rcel s, traffic staging re -alignment, city/state cooperation, temporary re -use of existing <br />buildings with re -development planning. <br />TRAN SACTIONS <br />a <br />
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