Caitlin Anderson

Minneapolis

Reporter at Minneapolis/St. Paul Business Journal

I would be nowhere without coffee / CRE senior reporter @mspbjnews / past: @startribune @pioneerpress @edinasuncurrent @mndailynews @cijournalism / @umn_hsjmc

Articles

City Center owner defaults on $130M loan in downtown Minneapolis

2 months ago | bizjournals.com | Caitlin Anderson

The owner of City Center at 600 Nicollet Mall and 33 S. Sixth St. in downtown Minneapolis defaulted on a $130 million loan, which has been placed in special servicing. The owner of City Center at 600 Nicollet Mall and 33 S. Sixth St. in downtown Minneapolis defaulted on a $130 million loan, which has been placed in special servicing. The borrower of the loan and owner of the property failed to pay off the loan or provide a refinancing commitment before the loan maturity date of Jan.
Providence-South Coast area ranks 2nd in U.S. for distressed CRE debt - Providence Business First

2 months ago | bizjournals.com | Caitlin Anderson |Doug Banks

Providence-South Coast has seen several high-profile properties experience troubles in the recent past related to their loans. The Providence metro area, which includes the Massachusetts South Coast, has the second-highest level of commercial real estate distress among all major U.S. metros, according to a new report.
Mohr Partners taps real estate pro to lead new Twin Cities office - Minneapolis / St. Paul Business Journal

2 months ago | bizjournals.com | Caitlin Anderson

Mohr Partners Inc. announced Monday it hired Darrin Dufresne to lead the company's new local office as managing partner and broker of record. Dufresne formerly worked at various local real estate firms, including Sherman Associates and CSM Corp. The move is part of Mohr's strategy to grow the firm's geographical presence in 2025. This year, the firm also has opened offices in Cleveland and Seattle. Mohr now operates 25 offices nationwide.
Why developer Ari Parritz eyes more projects along St. Paul's Grand Avenue - Minneapolis / St. Paul Business Journal

2 months ago | bizjournals.com | Caitlin Anderson

The developer recently unveiled plans to redevelop the former Billy’s on Grand site with 87 apartments and 12,000 square feet of ground-floor commercial space. Parritz is also eyeing some more sites in the area. Ari Parritz, a local developer who grew up often visiting St. Paul’s Grand Avenue and now lives in the area, wants to maximize the potential of the longtime destination retail corridor.
Twin Cities Icons: United Noodles seizes opportunity in growing popularity of Asian brands - Minneapolis / St. Paul Business Journal

2 months ago | bizjournals.com | Caitlin Anderson

While its main entry may be hard to detect tucked between industrial buildings in south Minneapolis, shoppers have been finding their way to United Noodles since 1972, often with new reasons to visit. Inside the longtime Asian market, patrons are greeted to a vast array of Asian goods, with products sourced from China, Japan, South Korea, Vietnam, Thailand and more.
Edina to consider funding parking ramp to jump-start stalled France Ave. project - Minneapolis / St. Paul Business Journal

2 months ago | bizjournals.com | Caitlin Anderson

The development team has previously cited volatile market conditions, including heightened interest rates and reduced liquidity, for the delay. The city of Edina may help finance a 540-space public parking ramp in an attempt to spur a delayed $250 million redevelopment project along France Avenue.
3rd St. Market Hall co-developer plans another food hall. Here's where. - Milwaukee Business Journal

2 months ago | bizjournals.com | Caitlin Anderson

Hempel Real Estate purchased the office tower in 2023 from Northwestern Mutual. It plans to develop a food hall, a concept the firm previously deployed in Milwaukee. Hempel Real Estate, the co-developer of The Avenue and the 3rd St. Market Hall in Milwaukee, is planning to develop another food hall.
2 La Quinta hotels for sale in Bloomington

2 months ago | bizjournals.com | Caitlin Anderson

The hotels are located just off Interstate 494, not far from Minneapolis-St. Paul International Airport and Mall of America. Two La Quinta Inn hotels in Bloomington are up for sale. Hospitality Real Estate Counselors recently began marketing the hotels, both located just off Interstate 494. They include the La Quinta Inn & Suites by Wyndam Minneapolis Bloomington W., at 5151 American Blvd. W. near Normandale Lake, and La Quinta Inn by Wyndam Minneapolis Airport Bloomington, at 7815 Nicollet Ave. S.
Elon Musk's DOGE cuts three more leases in Minnesota - Minneapolis / St. Paul Business Journal

2 months ago | bizjournals.com | Caitlin Anderson

Eleven leases in Minnesota previously showed up on the list as having been terminated across Bloomington, St. Paul, Minneapolis and more. Since then, three more offices have been added to the list, including two spaces in St. Paul and one in Winona. Elon Musk’s Department of Government Efficiency (DOGE) says it has terminated three more leases in Minnesota.
Lake Minnetonka home tied to historic Van Dusen family estate lists for $10M - Minneapolis / St. Paul Business Journal

2 months ago | bizjournals.com | Caitlin Anderson

With 210 feet of sandy shoreline along Lake Minnetonka, the residence features a pool house, elevator and garage spaces that can fit 10 cars. An 8,300-square-foot residence situated on what was once the Van Dusen family’s summer cottage along Lake Minnetonka has listed for $10 million. Called the “Forever Estate,” the six-bedroom, seven-bathroom home in Minnetrista “blends French provincial charm with countryside cottage allure,” according to its listing with Edina Realty.

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Caitlin Anderson @CAndersonMN

23 Apr 24

Scoop: Lender moves to take over Capella Tower in downtown Minneapolis https://t.co/NdQE2uVTZ7

Caitlin Anderson @CAndersonMN

14 Feb 24

NEW: Marcus Hotels & Resorts, Hempel Real Estate and Robinson Park plan to jointly acquire the Loews Minneapolis Hotel. https://t.co/TaNz5SwB45

Caitlin Anderson @CAndersonMN

2 Nov 23

NEW: Optum, a subsidiary of UnitedHealth Group, will dump its 470,000-square-foot office campus lease in Eden Prairie by the end of this year https://t.co/Y6YvpKxw0d

Caitlin Anderson

Articles

City Center owner defaults on $130M loan in downtown Minneapolis

Providence-South Coast area ranks 2nd in U.S. for distressed CRE debt - Providence Business First

Mohr Partners taps real estate pro to lead new Twin Cities office - Minneapolis / St. Paul Business Journal

Why developer Ari Parritz eyes more projects along St. Paul's Grand Avenue - Minneapolis / St. Paul Business Journal

Twin Cities Icons: United Noodles seizes opportunity in growing popularity of Asian brands - Minneapolis / St. Paul Business Journal

Edina to consider funding parking ramp to jump-start stalled France Ave. project - Minneapolis / St. Paul Business Journal

3rd St. Market Hall co-developer plans another food hall. Here's where. - Milwaukee Business Journal

2 La Quinta hotels for sale in Bloomington

Elon Musk's DOGE cuts three more leases in Minnesota - Minneapolis / St. Paul Business Journal

Lake Minnetonka home tied to historic Van Dusen family estate lists for $10M - Minneapolis / St. Paul Business Journal

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