MREJ Real Estate Awards 2024 Finalists
Tuesday, March 26th, 2024
The Minnesota RE Journal is hosting its annual Real Estate Awards, showcasing the top achievements and developments in the state of the past year.
2023 was a busy year in commercial real estate in Minnesota. Congratulations to all of the finalists in this year’s Real Estate Awards. The winners will be announced at the April 18, 2024 event so stay tuned for more to come! Learn more about all of this year’s finalists at the Minnesota RE Journal event website, linked here.
Here is some information on some of the select nominees:
169 Logistics Center
Category: Industrial, West
To expand the availability of industrial space, Capital Partners embarked on a two-building state-of-the-art development at the southeast corner of Highways 169 and 610 in Brooklyn Park called 169 Logistics Center. The development is designed to support multi-tenants with flexibility and features to support industrial tech production environments. Building 1 is 100,000 SF with 28’ clear height and nine dock doors. Building 2 is 47,250 SF with 28’ clear height and 9 dock doors.
Bhatti GI Ambulatory Surgery Center & Clinic
Category: Medical Property, West
A large footprint on a small site, the Bhatti GI Surgery Center maximizes its square footage with innovative building and site design features including a hydronic snow melt system, future vertical expansion accommodations, and structural enhancements. Bhatti GI Consultants’ second location, this interesting building consists of four levels. It features 100% indoor parking, with below grade parking for staff and ground-level parking for patients. The facility’s second floor operates as a full-service gastrointestinal specialty clinic, and the third floor is an ambulatory surgery center, complete with five operating rooms, labs and post-op/pre-op recovery rooms.
Cassia Harmony Gardens Senior Health & Living
Category: Senior Housing – Suburban East
Cassia is a provider of senior housing and healthcare and an affiliation of organizations Augustana and Elim Care. Cassia explored opportunities for developing senior housing adjacent to the First Evangelical Free Church in Maplewood for many years. This new state-of-the-art community blends independent living, assisted living, memory care, transitional care and skilled care housing with a vibrant town center and shared destinations like a café, dining, courtyard, fitness center and activity spaces. It replaces the 1960s New Harmony Care Center, creating a modern, full continuum of care for local residents with a connection to community gardens and a worship community.
CFMOTO USA Headquarters
Categories: Interior Design – Suburban Office
CFMOTO manufactures ATVs, side x sides, motorcycles and accessories, and operated out of two buildings in Plymouth. Business growth and lack expansion room pushed CFMOTO to relocate to a new spec 105,000 SF office/warehouse. CFMOTO USA Headquarters combines operations, R&D, service, warehousing and distribution. The interior transforms the experience for employees with high-end design features for multiple workstyles – flexible touchdown areas, conference rooms and sit-stand workstations, along with engaging amenities like a spacious breakroom and golf simulator. The building includes a 70,000 SF warehouse for part storage and distribution, a full vehicle service area, machine shop, and R&D clay room.
The Flats at Malcolm Yards
Category: Affordable Housing, Urban
The Flats at Malcolm Yards is a 6-story income qualified apartment that is part of Malcolm Yards, a mixed-use, mixed-income, intergenerational community near the University of Minnesota in the historic Prospect Park neighborhood. Wall Companies purchased 20 acres which houses the United Crushers grain elevator to develop Malcolm Yards, blending a multicultural food hall, income qualified apartments, market rate apartments, and other future developments. Developed by Wall Companies and Lupe Development Partners, The Flats offer 143 income qualified rental units, and amenities like underground parking, fitness center, bike storage, coworking space, picnic area, pet spa, club room and rooftop deck.
Forty-Forty Flats
Category: Senior Housing, Suburban West
Forty-Forty Flats is a 100% affordable 118-unit apartment for seniors aged 55+, filling a need for affordable housing in a high rent district experiencing housing shortages for an aging population. The building includes a mix of studio, 1-bed and 2-bed units for residents with incomes at or below 30% to 80% of area median income. The project redevelops a vacant site to create a walkable development connecting new residents and existing residential neighbors to nearby transit, medical and retail. Amenities include underground parking, fitness studio, rooftop lounge, multi-purpose community room for resident and public programming, onsite gardens, and public art.
French Lake Distribution Center
Category: Industrial, West
To expand the availability of industrial space northwest of the Twin Cities, Capital Partners developed a new 248,000 sq. ft. industrial building on over 18 acres near I-94 in Dayton, Minnesota. The development was designed with flexibility to support multiple tenants. During construction, the building was tailored to a single tenant nVent Hoffman. French Lake Distribution Center features 32’ clear height with 24 docks and 2 drive-in doors.
InverPoint Business Park, Building #5
Category: Industrial, East
With the growing need for industrial space in the Twin Cities, United Properties is executing its long-term plans for 45 acres in the south metro. The new InverPoint Business Park in Inver Grove Heights houses five buildings that totals over 460,000 sq. ft. of office/industrial space. Building #5 is a 48,000 sq. ft. speculative industrial facility.
MSP Commercial Headquarters
Category: Redevelopment, Office
MSP Commercial is a healthcare real estate developer based in the Twin Cities metro. The company’s growth prompted them to relocate to better serve their clients while enhancing their workplace environment for employees. Following a real estate search, MSP Commercial purchased an existing 1950s retail building along the Penn Avenue corridor in Richfield. Previously zoned as wholesale warehouse, the project required a change of use and some significant and ambitious site upgrades to get approval from Richfield’s planning commission. MSP Commercial’s investment in repurposing an existing 1950s building, supports the growth and vibrancy in this overlooked area of Richfield, elevating future developments. With their vision to give this property a new life, MSP’s surrounding neighbors and community can see the interactions and activities in the office space, elevating the energy of the surrounding area.
MSP Commercial Office
Category: Interior Design, Suburban Office
Steady growth in MSP Commercial’s healthcare real estate portfolio and staff prompted a much-needed relocation. In order to better serve clients and enhance their workplace environment, they purchased an existing 1950s retail/warehouse building on Penn Avenue in Richfield as an adaptive reuse project. The design embraces the history and style of the original building, incorporating exposed elements like concrete block and open ceilings with a mid-century modern aesthetic. MSP Commercial’s office integrates employee-driven amenities like a large turf area for recreational and social activities, a full kitchen, wellness/fitness room, and collaboration spaces and is also a dog-friendly environment.
PrairieCare Inpatient Hospital Expansion
Category: Medical Property, North
PrairieCare opened its youth psychiatric inpatient hospital in 2015, and quickly expanded to provide 71 beds and services for youth and young adults challenged with depression, anxiety, trauma and mood disorders. As demand grew and following legislation in 2022 to waive the moratorium on hospital beds, PrairieCare expanded the building to provide an additional 30 beds and therapy services. PrairieCare’s vision is to transform psychiatric care, and the expansion creates a calming environment that supports the wellbeing of youth and young adult patients, staff and family visitors. The design connects patient bedrooms to milieu therapy, classroom and activity spaces.
Twelve22 Apartments
Category: Redevelopment, Multi-Family
The St. Paul Casket Company located at 1222 University Ave in St. Paul, was the most significant casket manufacturer in Minnesota for three decades. It was designed by architect Allen H. Stem, completed in 1923, and added to the National Register of Historic Places in 2021. It has open floor areas, terrazzo floors, a spiral staircase with ornate railings, mushroom cap columns, and the prominent 104-foot tall central tower that houses a water tank and clockface. Purchased in 2019 by JB Vang, the development team preserved its historic integrity while remediating contamination to create a new 55-unit affordable housing development.
Wings Credit Union Apple Valley Branch
Category: Retail/Restaurant
Wings Credit Union was founded in 1938 by seven Northwest Airlines employees. Today, as a not-for-profit financial institution, Wings serves over 364,000 members worldwide. Wings is Minnesota’s largest credit union and ranks among the nation’s top 40 credit unions. To better serve members at their flagship branch, the organization embarked on a remodel to upgrade the function, aesthetic, and features, including removing teller lines and integrating advanced banking technologies to enhance convenience for members. Through careful planning and construction methods, the team considered the branch’s existing infrastructure and operations to improve member experience while minimizing disruptions to ongoing banking services.