Case Studies

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Recently Sold

1404 Central Ave | Minneapolis, MN

12,595 SF | 0.62 Acres

1404 central ave, minneapolis, sold

Case Study:

The Pipe Fitters Union called on CRE Partners to assist them with selling 1404 Central Ave in Minneapolis, MN. The main goal was to maximize the value of the current site and additional, find a new home for the Union.

Challenges:

1404 Central Ave was a great site in a hot neighborhood.  The challenge was the sale and purchase of a new location had to happen simultaneously. With the wide range of potential uses, closing timeframes were potentially very long. 

Solution:

CRE Partners worked with the owners on a marketing plan to focus on a wide range of buyers to achieve the highest and best use for the site (and highest selling price). After reviewing 10 offers, we moved forward with a user that had a short closing timeframe. CRE Partners helped navigate the multiple offer process, building inspection, and risk involved with the corresponding relocation. Ultimately, the building sold for $1.6M. Ultimately, the owners sold and purchased a new home on the same day. Even better, they doubled their space with very limited additional cost. With a brief leaseback, they were able to smoothly transition into their new building.

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Recently Leased

212 3rd St | Minneapolis, MN

5,285 SF | Office

Recently Leased, 212 3rd St, Minneapolis, MN

Case Study:

Punch Through Design called on CRE Partners to assist them with finding new office space. The main goal was to accommodate growth, but limit lease term risk.

Challenges:

The Punch Through office space project had numerous challenges. First, they wanted to be located in one of the most competitive office markets in Minneapolis, the North Loop or NE. Second, the company was growing at a rapid pace, but taking on the extra burden of additional rent for space they may not be needed for a couple of years was worrisome. In addition, if the space was too small, would they be stuck in a long-term lease?

Solution:

CRE Partners worked with the owners on a plan to focus on office space that would allow for growth, but also be flexible with lease terms and relocations. After viewing many spaces, we moved forward with a sublease option in the North Loop. Ultimately, CRE Partners helped negotiate favorable terms for the sublease that met their budget and limited lease term. In addition, furniture was included!

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We want to give real advice & guidance. Not just be a sales person. 

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Recently Sold

9200 Hudson Blvd | Lake Elmo, MN

46,000 SF | 9.95 Acres

9200 hudson, lake elmo, sold

Case Study:

Cranky Ape called on CRE Partners to assist them with selling 9200 Hudson Blvd in Lake Elmo, MN. The main goal was to maximize the value of the current site and additional, find a new home for the company.

Challenges:

The 9200 Hudson blvd project had numerous challenges. While the site had great visibility on I-94; the buildings were functionally obsolete, the land was long and narrow, and the city of Lake Elmo is not always open to redevelopment. In addition, the sale and purchase of a new location had to happen simultaneously.

Solution:

CRE Partners worked with the owners on a marketing plan to focus on a very narrow set of buyers to achieve the highest and best use for the site (and highest selling price). After reviewing many offers, we moved forward with a mini-storage developer. CRE Partners helped navigate the environmental issues, city process, and risk involved with the corresponding relocation. Ultimately, the building sold for $2.9M ($2.95M asking price). In addition, the owners sold and purchased a new home on the same day. With a brief leaseback, they were able to smoothly transition into their new building.

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We want to give real advice & guidance. Not just be a sales person. 

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Recently Sold

Water Gremlin Development

9200 hudson, lake elmo, sold

Case Study:

Water Gremlin called on CRE Partner to assist them with a site search for a new facility. The company needed more space and was uncertain if purchasing, leasing, or building was the appropriate solution. The goal was to find additional space and limit logistics costs.

Challenges:

The Water Gremlin project had numerous challenges. While they owned a land site next to their current facility, the soil conditions made building difficult. However, transporting their product is expensive and finding an existing building with the necessary floor load was very difficult.

Solution:

CRE Partners worked with Water Gremlin on finding a suitable alternative for sale or lease in their general vicinity. After comparing the available options, the decision was made to build on their current site. CRE Partners helped establish a relationship with Anderson Companies, a general contractor, to provide development services. Anderson navigated the difficult soil conditions, worked closely with White Bear Township to create a 25-year tax increment financing (TIF) district, assisted with community approvals, like-facilities budget comparisons and financial package creation. Just prior to construction, an active bald eagle’s nest was discovered on the site. Anderson Cos worked closely with a US Fish and Wildlife biologist to secure the necessary permits while minimizing the impact to the eagle’s nest.

Always Working for Your Best Interests

We want to give real advice & guidance. Not just be a sales person. 

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