Listen to this articleEditor’s note: “Just Sold” is a Finance & Commerce feature based on the newest certificates of real estate value filed with the Minnesota Department of Revenue for commercial sales throughout Minnesota and reports of sales across the country involving local parties. Research includes company and broker documents, online real estate listings, F&C archives, Catylist and other research.
A lot of Minnesotans like to squeeze in a little a little golf and dinner after work — at least when it’s warm enough. Soon, however, folks in Bloomington will be able to dine and golf indoors year-round. A lucky few will be able to do it without ever leaving the office.
Ernie Rose — a Twin Cities golf teacher and coach, former pro golfer and owner of his namesake Ernie Rose Golf training center in Eden Prairie — is expanding his business model. Rose has paid $4.3 million for a three-story, 42,303-square-foot office building at 7807 Creekridge Circle. The price works out to $101.65 per square foot.
Rose plans for Office Golf to include 18 golf simulators, a restaurant and two bars on the first two floors, with office space for lease on the third floor.
Steve Shepherd, senior managing director, and Matt Elder, director, with the Newmark Minneapolis office, represented Juno Investments LLC, the private owner of the building and a neighboring building that sold last year.
Ryan Walsh, executive principal with RadatzWalsh Inc Commercial Real Estate in Edina, represented Rose.
“We’ve been looking for a couple of years and this building is perfect,” Rose said. Rose hired general manager Chris Wilson, formerly of Interlachen Country Club in Edina to help get everything ready for a soft opening in early December.
Place: 7807 Creekridge Circle, Bloomington
Price: $4.3 million; $633,375 down payment; new mortgage; includes $28,000 in furniture and equipment; $101.65 per square foot.
Buyer: Ernie Rose Golf IV LLC, Edina
Seller: Juno Investments LLC Bloomington
Date: 10-3-23
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St. Louis Park Minvalco building draws $2.4M
St. Louis Park-based Minvalco Inc. has a new Texas owner and a new local landlord.
Dallas-based Building Controls & Solutions (BCS) announced earlier this year that it was acquiring Minvalco, a leading provider of building automation systems and components.
An entity related to Minvalco sold the company’s real estate to Gorham Partners II LLC in Edina for $2.435 million.
The 12,784-square-foot building was completed in 1965 on 0.44 acres at 3340-3355 Gorham Ave. The price works out to $190.47 per square foot.
Place: 3340-3355 Gorham Ave., St. Louis Park
Price: $2,435,000; $781,000 down payment; new mortgage; $190.47 per square foot
Buyer: Gorham Partners II LLC, Edina
Seller: MVC Holdings Inc., Minnetonka
Date:10-25-23
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