Arrow Real Estate sold 14105 Azurite Street NW in Ramsey for $875,000. This 11,208 square foot office/warehouse building was on the market for only 5-months before closing on June 19th! Arrow represented the seller LGP Leasing, LLC and Carrie Moline Gibbs from Century 21 Moline Realty, Inc. represented the buyers Wayne & Lisa Nicholson in the sale.
In February of 2020, Arrow Real Estate received a new lease listing and expanded our Management portfolio. Central Shoppes, is located at 9360 Baltimore Street NE in Blaine. The buildings current tenants are Acapulco Restaurant, Subway, KD Nails Salon.
Arrow recently signed a lease with Up to Date Bookkeeping. Arrow Contracting is currently working on the tenant improvements for this 2,546 SF office space. Their first day of occupancy will be June 1st. Make sure to check out Up to Date Bookeeping’s website here!
Click here to check out the remaining 1,237 SF space at Central Shoppes.
Arrow represented 21st Century Bank in selling 8.7 acres located in the Great River Centre. The property was sold April 29, 2020 for $1,102,095 to Rick and Eric Schultz. The new owners plan to develop a 190-unit apartment complex on this site. For more information about the project click here.
This was Arrow’s fourth transaction in the Great River Centre. P&F Machining, Edina Realty and Lil’ Explorers Childcare Center, and now The Village apartments. Arrow still has 17.73 acres listed in this development. For more information visit our website here.
Arrow represented Raven Investments, LLC in leasing a 38,132 SF building to International Gymnastics of Minnesota, LLC. The lease commenced on March 1, 2020. The building is located at 12177 Riverwood Drive in Burnsville which is close to Hwy. 13 and accessible to I-35 & Hwy 77. The building is comprised of two levels of office space amounting to 12,000 SF. The remaining 26,132 SF is warehouse space with 18’ clear height. The 2.47-acre lot allows for ample parking.
Congratulations IGM Gymnastics! Make sure you check out their website for more information on their gym.
Arrow Real Estate’s top transaction of the first quarter 2020 closed on January 24th. It was the sale of a 22,857 SF office building located at 9380 Central Ave NE, Blaine. Arrow represented the owner (Blaine 21, LLC) in the selling the property to Bella Vita Holdings, LLC for $4,560,000.
In October 2015, Arrow represented Blaine 21, LLC in purchasing the property $3,570,000. During the four-year ownership period Arrow managed and leased the property keeping the occupancy rate at nearly 100%.
If you are a member of Finance and Commerce you can find more information here.
Arrow Real Estate takes pride in our listings and management contracts. Since October 2017, Arrow has leased 29.79% of Bell Tower West, which is located at 9325 Upland Lane N, Maple Grove. The 53,673 SF building now has an occupancy rate of 89.66%.
Here is the full list of the Tenants that have leased space over the last two and a half years:
MN Ketamine & Wellness Institute
Active Foot & Ankle Health Inc.
Arrow Real Estate has also renewed the following Tenants at the property!
Bell Tower West has one remaining vacancy on the second floor. The suite is 5,576 SF, but could be demised to 2,000 SF. For more information click here.
Noble Office Park community welcomes two new tenants! Cardinal Financial moved into office space 4650 – 4660 Oak Grove Parkway in Brooklyn Park, MN. They will occupy 2,940 SF!
New Creations Child Care and Learning Center will occupy the building between condo complex & CVS. They expect to move into their new space in the Spring (2020). Arrow Real Estate Corp. sold the 1.0 acres piece of land in late 2019.
SOLD! 18205 45th Ave. N., Suite C
(Investment) – Dec. 2019 (Shell Unit)
SOLD! 18205 45th Ave. N., Suite B (Owner
User) – Jan. 2020 (Shell Unit)
SOLD! 18215 45th Ave. N., Suite C
(Investment) – Feb. 2020
SOLD! 18215 45th Ave. N., Suite B (Owner
User) – Pending
Upon taking over the listing agreement in Spring of 2019,
there were 2 ‘shell’ units For Sale along with 1 ‘Built out’ unit For
Sale. Arrow will have sold all three
units along with an investment condo within the Office Condo complex.
The Arrow Real Estate team continues to be active in the
office condo market. In the 2019/2020
calendar year, Arrow was involved in 16 transactions (9 leased / 7 sold).
Currently, the office condo market in the NW Metro area is
very active with sales prices reaching the highest levels seen since the late-2000’s.
If you are interested in getting a comparative market
analysis (CMA) or Broker Opinion of Value (BOV), feel free to contact Jeff
Penfield at firstname.lastname@example.org