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MEiVIBER
<br /> to
<br />MEMBER
<br />
<br />The Member to Member column exists for the purpose of reporting ground
<br />breakings, major transactions and promotions. Information of this nature
<br />should be delivered to the editor on or before the Friday following the mon-
<br />thly brealq'ast meeting for consideration in the next month's newsletter.
<br />
<br /> NEWS FROM WELSH COMPANIES, INC.
<br />
<br />Welsh Companies, Inc. announces that it has begun construction on Willow
<br />Creek Plaza Office Building. Willow Creek Plaza is located at the intersec-
<br />tion of Shelard Parkway and Ford Road in Plymouth. It will be a three
<br />story, 59,300 square feet, multi-tenant Class "A" office building and is ex-
<br />pected to be completed in May, 1987. Thc exterior of the building will be
<br />furnished with polished "carnelian" granite and antique silver bronze
<br />reflecting glass. Willow Creek is 34*/0 prcleased to Motivaction, Inc., an in-
<br />centive marketing company. Steve Kellogg, Vice President of Welsh Corn-
<br />panics is thc leasing agent for thc Willow Creek Plaza Office Development.
<br />
<br />Welsh Companies, Inc. also announced the start of construction of
<br />Plymouth Professional Park, a two building, 33,400 square foot single
<br />story brick and glass office development located in the northwest quadrant
<br />of Highway 18 and Rockford Road (County Road 9) in Plymouth, Min-
<br />nesota.
<br />
<br />Sion Baratz, Executive Vice President, is pleased to announce that Carol A.
<br />Madsen has joined Welsh Companies as Director of Acquisitions. In her
<br />new position Carol will be responsible for the analysis and evaluation of
<br />real estate acquired by Welsh and work in its financing and partnership syn-
<br />dication.
<br />
<br />EARLE BROWN COMMONS
<br />
<br />Al Beisner, President of Beisner, Ltd., is pleased to announce that Phase I
<br />of the Earle Brown Commons Apartments is under construction. Earle
<br />Brown Commons, located at the historic Earle Brown Farm in Brooklyn
<br />Center, is a 269-unit apartment complex designed specifically for seniors
<br />and will be built in two phases. Phase I consists of 140 full-service apart-
<br />ment units with covered parking, dining facilities and related amenities to
<br />enhance the senior citizen lifestyle,
<br />
<br />MERITOR FINANCES HOYT OFFICE/WAREHOUSE
<br />
<br />Meritor Mortgage Corporation is pleased to announce that it has provided a
<br />$3,600,000.00 open-ended construction loan to the Hoyt Development
<br />Company for their proposed Plymouth Corporate Center office/ware-
<br />house. The Plymouth Corporate Center is to be developed next to the
<br />Scoville Press Building on Ferubrook Lane near Highway 55 and Interstate
<br />494 in Plymouth, Minnesota. The 80,679 sq. ft. NRA multi-tenant of-
<br />rice/warehouse will have a brick veneer, glass, and "copper kote" exterior.
<br />The building will be located on a 6.41 acre site and provide on site parking
<br />for 227 ears.
<br />
<br />VANTAGE NEWS
<br />
<br />The list of prominent tenants continues to grow at Southwest Crossing,
<br />Vantage's prestigious business park in Eden Prairie. The flagship building,
<br />One Southwest Crossing, had a high volume of leasing activity over the last
<br />quarter, bringing 1986 to a close with a 70% occupancy. The most recent
<br />deal was completed by Bruce Egertson of Vantage Companies with the
<br />assistance of the brokerage firm Jones Lang& Wootton for a 47,000 square
<br />foot lease with CIGNA Insurance Company. CIGNA will occupy the frith
<br />floor at One Southwest Crossing.
<br />
<br />Vantage Companies announces the sale of its 41,959 square foot Alpha Of-
<br />fice Tech Center in Bloomington to Cuna Mutual Insurance Society. Bruce
<br />Bermel of Eberhardt did an excellent job in assisting with the sale, which
<br />closed on December 30.
<br />
<br />The Vantage Companies have named Thomas G. Roberts Vice President
<br />and Manager of the Minneapolis - St. Paul Retail Division. Prior to joining
<br />Vantage, Roberts spent the pas! five years with General Growth, a recogniz-
<br />ed leader in the industry.
<br />
<br /> NORTHLAND FINANCLAL COMPANY UPDATES
<br />
<br />Northland Financial Company, Minneapolis. announces they have arrang-
<br />ed financing for the First State Bank Building, Eden Prairie, Minnesota.
<br />The building is a four-story office/bank building containing over 43,000
<br />gross square feet and is anchored by the First State Bank, Eden Prairie. The
<br />building is owned by Eden Glen Fourth Limited Partnership which is com-
<br />prised of Northwestern National Life and Norman E. Undestad. Financing
<br />was arranged with Provident Life and Accident Company of Chattanooga.
<br />
<br />Northland Financial Company announces that in December it closed in ex-
<br />cess of $28 million of permanent loans for Northland Development of
<br />Brooklyn Park. Included was a 200,000 sq. ft., 3-story office building oc-
<br />cupied by Honeywell funded by an eastern pension fund and 400,000 sq. ft.
<br />of office/warehouse space in five buildings funded by a mid-western life in-
<br />surance company.
<br />
<br />RYAN FINALIZES ACQUISITION
<br />
<br />Northland Financial Company, Minneapolis, announces they have just
<br />completed a land acquisition/joint venture financing between Ryan Con-
<br />struction Company of Minnesota and an eastern pension fund. The financ-
<br />ing was for the 21,477 square foot site located in the southeast corner of
<br />Marquette Avenue and Ninth Street. The site will be utilized for Phase Iii
<br />of Ryan's International Centre development. The anticipated improvement
<br />will be architecturally similar to the Phase I and II buildings featuring
<br />alucabond and reflective gl~s skin and be upwards of 600,000 square feet.
<br />
<br /> TRAMMELL CROW COMPLETES OFFICE BUILDINGS
<br />
<br /> 12400 Portland Avenue South, in Trammell Crow Company's 75-acre
<br /> Burnsville Corporate Center, was completed in December. The 39,000
<br /> square foot single-story office building overlooks a two-acre lake and offers
<br /> a skylit, vaulted-ceiling lobby and high quality office finishes. Three leases
<br /> have already been signed at 12400 Portland Avenue South..
<br />
<br />12800 Whitewater Drive, in ! 10-acre Minnetonka Corporate Center, was
<br />completed in January. Attached by a climate-controlled walkway to 12900
<br />Whitewater Drive, 12800 offers climate-controlled parking, a delicatessen,
<br />· and locker/shower rooms. The three-story, 67,000 square foot building has
<br />a green reflective glass exterior and excellent exposure from Highway 494.
<br />12800 Whitewater Drive's first tenant moved into their new offices in
<br />January.
<br />
<br />ROSEDALE SQUARE
<br />
<br />Craig Waldron, City of Roseville, is pleased to announce that Byerly's has
<br />broken ground for its 51,000 sq. ft. facility that will anchor Lincoln Com-
<br />Oanies' 140,000 sq. ft. Rosedale Square. Ryan Construction has been
<br />selected to design and build the Byerly's stoic.
<br />
<br />TOLD CONTINUES EXPANSION
<br />
<br />TOLD Development Company has relocated its corporate headquarters to
<br />new and larger space in Prime Tech Center in Eden Prairie. The firm's new
<br />address is Suite 201, 6442 City West Parkway, Eden Prairie, MN 55344.
<br />The telephone number, 941-0970, remains the same. According to Ralph
<br />· Robinson, president, the move was made to accommodate the firm's grow-
<br />ing headquarters staff. TOLD is currently developing Crossroads Cor-
<br />porate Center, a 600,000 square foot corporate office and service center, on
<br />44 acres along 1-94, in the Milwaukee suburb of Brookfield. The firm also
<br />recently opened a Milwaukee office, headed by Mike Arneson.
<br />
<br />NORTHCO CORPORATION ARRANGES LEASE
<br />
<br />Northco Corporation, a Minneapolis based developer and real estate
<br />brokerage firm, announces the completion and occupancy by Honeywell's
<br />Defense Systems Division of a new 200,000 square foot office building in
<br />Northland Industrial Park in Brooklyn Park Minnesota. Don Opheim of
<br />Northco served as Broker for Northland and Honeywell in this transaction.
<br />
<br />Minimum lease transactions of 20, O00 square feet and/or land sales of five
<br />acres ore reported in the Member to Member column. When submitting
<br />transaction information for publication please include project name, pro-
<br />ject size, transaction size, lessor, lessee and brokerage representation (f ap-
<br />propriate.
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