On October 2nd , 2020 Arrow Companies helped a client, Jesse Myhre, close on 9274 Wellington Lane N in Maple Grove, MN for a selling price of $1,500,000. Tenants currently in the building include ProGrade Auto Experts, El Rojo Wholesome Distribution, J&A Services, and R&N Complete Auto Repair. Jesse’s company, JM Automotive will be occupying 8,160 SF of the 20,428 SF building. Arrow Companies has also added this property to their Property Management portfolio.. There is one 4,080 SF Office/Warehouse space Available FOR LEASE within the building. Click here to check out the brochure for the space.  Arrow takes pride in clean and well  maintained properties, therefore we are eager to get to work! Jesse and Arrow Companies are working together to clean up the outside landscaping and parking lot, complete tenant improvements, and make a variety of other updates to the property. We are looking forward to what the future holds for JMA Properties LLC and are excited to take you all on the journey with us!

Posted in: commercial real estate, property management,
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14105 Azurite Street NW, Ramsey

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.

Posted in: commercial real estate, Seller Representation, Test,
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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.

Posted in: commercial real estate, general contractor, property management, Tenant Improvements,
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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.

Posted in: commercial real estate, Seller Representation,
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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.

Posted in: commercial real estate, Landlord Representation,
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9380 Central Ave NE, Blaine

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.

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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:

  • Combined Insurance
  • Nuvell Clinics
  • MN Ketamine & Wellness Institute
  • MN Neonatal
  • JLB Pilates
  • Blue42
  • Active Foot & Ankle Health Inc.
  • Fairly Group

Arrow Real Estate has also renewed the following Tenants at the property!

  • Dental Specialists
  • Modern Point
  • Primelending

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.

Posted in: commercial real estate, Landlord Representation, property management, Tenant Representation,
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Suite 14170 (6,025 SF) LEASED Telamon

Suite 14140 (3,447 SF) LEASED  Arimation / Simplex

Suite 14196 (1,944 SF) LEASED   Lucid Consulting

Suite 14144 (5,332 SF) LEASED Twin Cities Railing

Suite 14146 (4,591 SF) LEASED C & K Lawn Service

Suite 14198 (1,944 SF) LEASED Metro Building Systems, Inc.

ONLY REMAINING SUITE – 14164 (5,000 SF) Includes 1 Dock & 1 Drive in. Click Here for More Info

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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.

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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 jpenfield@arrowcos.com Cell 612-325-2067.

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