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MEMBER
<br />TO
<br />,MEMBER
<br />
<br />NEWS ITEMS AT VANTAGE COMPANIES ....
<br />Tom Loftul, General Manager of the Vantage Companies, announced
<br />that "The Atrium', an 89,433 square foot office building located at
<br />2626 East 82nd Street In Bloomington, and which features e fully
<br />landscaped interior atrium garden, has been completed. This is the most
<br />outstac:Jing example of inside llve plantings done ]n the Twin Cities to
<br />date and adds · new dimension to first class office space.
<br />
<br />In add;tlon, two leases totaling 25,200 square feet have brought leasing
<br />to 100% at Alpha Buslne~ Center in Bloomington. This Vantage
<br />development encompasses 173,000 square feet and combines off[ce
<br />buildings, warehouse space and office/show~oom space in one comptex.
<br />Vantage also has named Bruce Egertson to the marketing staff. Egart-
<br />son was formerly a marketing executive with a division of American
<br />Hospital Supply Company. He is a native of the Twin Cities and a
<br />graduate of Augsburg CoIlege in Minneapolis. Egertson will be respon-
<br />sible for marketing and leasing the nearly 700.000 square feet of office
<br />and office/shovvToom space Vantage Companies has built in the metro-
<br />politan area.
<br />
<br />BALSIGER JOINS ALPHA ASSET MANAGEMENT
<br />Bill Balslger, fomerly with Northland Mortgage Company, has joined
<br />~ Nelson and his new venture, Alpha A~et Management Co.
<br />~s, new offices are located at 1648 Twin City Federal Tower.
<br />Ba sETger s responsibilities will include supervision of properties now in
<br />Alpha's po~folJo as well as development of new properties and analyz-
<br />ing potential real estate and business investments.
<br />
<br />CARLSON PROPERTIES PURCHASES
<br />RADISSON ARROWWOOD INN & RESORT
<br />Radisson Arrowwood Inn and Resort, located on the shores of Lake
<br />[~ar[ing in Alexandria. has b~en purchased by Carlson Properties, Inc. of
<br />Minneapoli~ The purchase was announced by John Nagat, president of
<br />the firm. *~/e are delighted to acquire this beautiful 450-acre resort
<br />property...in Minnesota's vacation area,'* Nagel said. The focal point
<br />of Arrow~vood is a 170-room ledge building which has recently been
<br />completely renovated, and which contains a deluxe restaurant and
<br />
<br />offers exter~ive recreational opportunities including golf, horseback
<br />riding, water sports, ice fishing, ski touring and snowmobiling.
<br />
<br />Nagel also sald Carlson Proper-
<br />
<br />expansion of the resort in
<br />coming years, including the
<br />possible construction of de-
<br />luxe condominiums as rental
<br />units near the lakeshore or the
<br />conversion of sections of the
<br />lodge building into indivi-
<br />dually owned rental condo-
<br />
<br />Carlson Pfopartles. Inc. pur-
<br />chased the Arrowwood corm
<br />plax from First Mortgage
<br />Investors, a Miami Beach firm.
<br />
<br />John Nagal, Carlson Properties
<br />
<br />HAILES NAMED TO
<br />APPOINTMENT
<br />AT WELSH
<br />Stephen R. Hellas has recently been
<br />appointed al[rector of Property Ma.
<br />
<br />HaUes has been Involved In real
<br />
<br />vestor. Previously HaIles worked for
<br />the Towle Real E~tata Company
<br />managing medical and office/ware-
<br />house buildings.
<br />
<br />AMERICAN NATIONAL BANK & TRUST
<br />ANNOUNCES FINANCING ARRANGEMENTS ....
<br />PROMOTION OF JANSON
<br />American National Bank and Trust Company, St. Paul, has announced
<br />the arrangement of financing on the following projects: River Ridge
<br />Center, a 57,000 square foot office/warehouse/retail building to be
<br />used for multi-tenant occupancy, with a $1,400,000 tax-exempt
<br />construction loan funded against a standby loan secured by The Stein-
<br />berg Financial Corp. (owners Robert Wickesser and Ralph Linvill);
<br />and the Ground Round Restaurant, a 5,400 square foot establish-
<br />ment in Burnsville and the 10th Ground Round in the Twin Cities, with
<br />a $600,000 conventional construction loan, and operated by Al Baker,
<br />formerly of Howard Wong's in Bloomington, Minnesota.
<br />
<br />In addition the American National Bank and Trust Company wishes to
<br />announce the promotion of Ellen C. Janson to Mortgage Loan Officer
<br />in the Mortgage Department. Janson, a native of Sauk Rapids, Minne-
<br />sota, joined the firm in September of 1979 as a Mortgage Loan Coun-
<br />selor. She Is a graduate of the College of St. Benedict in St. Joseph,
<br />Minnesota, and has a B.A. degree in Business Administration.
<br />
<br />TOWLE JOINS ARSG :
<br />William S. Railing, president of Towle Real Estate, announced recently
<br />that the Twin Cities commercial real estata firm has joined the Ameri-
<br />can Realty Ser~le~ Group (ARSG), a network of 22 distinguished,
<br />locally owned and managed commercial real estate firms across the
<br />United States. Operating in 35 major metJ'opolltan markets, the ARSG
<br />was organized to generate referrals, provide marketing ~ss;stance
<br />and produce investment opportunltles on a nation,vide ]eve.] on behalf
<br />of its member cllents.
<br />
<br />RYAN CONSTRUCTION ANNOUNCES
<br />DESIGN/BUILD PROJECTS
<br />Ryan Construction Co. has been awarded several design/build con-
<br />tracts, one of which is the construction of a 17242 square foot super-
<br />market scheduled to begin in June and located in Two Harbors. Minne-
<br />sota. The new facility will be a single-story unit of steel construction
<br />and will have a mezzanine for mechanical facilities.
<br />A $4 million design/build award by Reliance Electric Cow a subsic~ary
<br />of Exxon Corp., in Cleveland, Ohio will result in the construction of a
<br />165,000 square foot new plant and office complex in J~orth Mankato.
<br />Minnesota. The new facilities are being built for Reliance's wholly-
<br />owned subsidiary, Kate Eng~neerlng, now located in Mankato. Con-
<br />struction is scheduled this month with completion projected for late
<br />fall of 1981.
<br />Ryan will begin its segment of construction this spring on the $2
<br />million main structural portion of a fiakeboard plant complex for
<br />Weyerhauser Co. of Tacoma, Washington. The proj.ect Is located in
<br />Grayling, Michigan and will encompass more than five acres under one
<br />roof on a 50U-acre site when completed.
<br />Locally, Ryan has been awarded a $450,000 contract for the remedel-
<br />~ng and expansion of Clare's Red Owl in Shakopee. The expans~0n will
<br />add 19,630 square feet to the store and will include remedeled facilities
<br />for the bakery, deli, fresh meat, frozen foods, dairy and produce de-
<br />partments. Construction is scheduled 1o begin later thls month, with
<br />store functions remaining open during the course of the project.
<br />
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