Minneapolis, Minnesota

MINNEAPOLIS—(July 10, 2008)—The Minneapolis/St. Paul office of Colliers Turley Martin Tucker (Colliers), a world-wide leader of commercial real estate services, today announced the completion of two downtown Minneapolis transactions as well as two new management and leasing assignments in suburban markets. 

The Office Sales and Leasing team of Larry Chevalier, SIOR and Brian Woolsey represented Jack and Jane Buxell in the sale of a potential mixed-use building located at 900 North Third Street in Minneapolis. The 53,743-square foot building was sold to FTK Properties, Inc. for $2.2 million. Located on the edge of the trendy North Loop neighborhood, this property offers great downtown views and on-site parking. This building also houses a geothermal heating and cooling system, which is a rare commercial application. The building proved to be a highly sought after property, with more than 25 tours and three offers.

Chevalier and Woolsey, along with the Retail Sales and Leasing team of Andrea Christenson, SCLS and Kelcey McKean, also completed leasing transactions at 24 University Avenue in Minneapolis. Just one year ago, the building, owned by Dan Hunt, was 90 percent vacant. Chevalier and Woolsey secured Kerker, an integrated marketing firm, to occupy the former Fire Barn space within the building, and recently completed a deal with Meritex Enterprises, Inc., which took the remaining office space. Christenson and McKean secured Blue Sky Wine Bar to occupy the retail space within the building.

Apple Valley-based Wings Financial recently awarded management and leasing of its three-building, 166,338-square foot portfolio to Colliers. The portfolio includes Wings’ Apple Valley headquarters building as well as its multi-tenant Bloomington and Eagan locations. Mark Stevens, Martin Wolfe, and Anna Engstrom are representing Wings as leasing representatives while Patricia Summers and Barb Perron are serving as property managers.

Individuals from Colliers also began work as the management and leasing representatives for New York-based Sentinel Realty Advisers’ Pension Fund Advisory Group. Donna Becker, CPM is managing the 195,898-square foot industrial and office portfolio. The team of Duane Poppe, CCIM, Dan Terry, Jeff Pearson, and Ryan Elmer is leasing the industrial property in New Hope, and the team of Dennis McClinton, SIOR and Will Leaf is leasing the industrial property in Bloomington. The office property in the portfolio is located near the Mall of America and is currently under a long-term lease agreement with ADP.

The two management assignments add to the growing list of institutional clients that Colliers is serving, and adds to the firm’s 7,500,000-square foot management portfolio.

About Colliers Turley Martin Tucker

One of the nation’s largest privately held, full-service commercial real estate firms, Colliers Turley Martin Tucker (CTMT) handles more than $5 billion in annual real estate transactions and manages over 237 million square feet of industrial, office, and retail space. CTMT has approximately 1,300 associates, of which 505 are licensed real estate professionals, throughout its regional offices in Cincinnati, Columbus, and Dayton, OH; Indianapolis, IN; Kansas City, MO; Minneapolis/St. Paul, MN; Nashville, TN; and St. Louis, MO. For more information about Colliers Turley Martin Tucker, visit our website at www.ctmt.com.

Contact Information

Jennifer Umberger
jumberger@ctmt.com

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