Gaughan Attends Annual Who’s Who Showcase
Thank you to everyone who stopped by our booth yesterday. We thoroughly enjoyed The Who’s Who in Building & Showcase (hosted by The Blue Book Network) and plan on attending again next year!
Our construction project managers were able to meet local and national subcontractors, vendors, customers, and other exhibitors. We are always looking to work with the best in the business in order to provide our clients with the highest quality construction. The Who’s Who Showcase is an excellent event for networking and learning about the latest news and technologies in the construction industry.
If you didn’t get to meet our team at the event or if you did and would like to discuss working with a quality general contractor, call us at 651-464-5700.
Gaughan Senior Brokerage Associate Facilitates 495-Acre Listing
In a recent article, the Prior Lake American covered the sale of a 495-acre listing, owned by a local family in Prior Lake, Minnesota. While the details of how the land will be divided are not complete, the number of interested buyers continues to increase.
“So far, it’s been a combination of out-of-state and international-type investors, local investors, and everything in between,” Tom Opsahl said. “It’ll be really interesting to see over the next 12 months how it turns out.”
For more information about this and other listings, contact Gaughan Senior Brokerage Associate Tom Opsahl at 651-255-5569.
The Pinnacle of the Project
March has brought with it beautiful sights at one of our construction projects. On March 1, crews at Lighthouse Lofts began working on assembling the “lantern room.” Once complete, the tower will exude light to be seen from great distances. This will be the clubroom for Residents.
For more information on Lighthouse Lofts, visit www.LighthouseLoftsMN.com.
Team Building Brings Big Thrills
Every year, Gaughan Companies hosts an annual team building event for all of its employees. This year, we took a day during the week to go to Big Thrill Factory in Oakdale with the whole company.
After an address from the company president, Patrick Gaughan, the attendees ate lunch and gathered into smaller groups in order to connect one-on-one with their coworkers. Our staff is growing, and with many of them at locations throughout the Twin Cities, it is important for us to take the time for these team building activities.
We participated in activities like go karts, laser tag, a ropes course, indoor zip line, and other events, like the Gaughan Jeopardy game. The atmosphere was filled with good spirits and friendly competition!
We appreciate our employees and all that they do for our company and our community. We are blessed to have a wonderful group to work with!
Gaughan Chosen for Historic Prior Lake Listing
Gaughan Companies was recently selected to list 495 acres of land in Prior Lake, Minnesota. This historic property has been owned by the same family since before the Civil War. Zoned for residential, commercial, mixed use, and located only 20 minutes from Minneapolis, this land is in the optimal location for development. We are honored to be entrusted with this monumental listing and look forward to bringing phenomenal new development to Prior Lake!
For more information visit http://bit.ly/2AcKgUF
Gaughan Associate Elected to Chamber Board
Dave Galleberg, Commercial Brokerage Associate at Gaughan Companies, was elected as a board member of the MetroNorth Chamber of Commerce on December 7, 2017 at the Merry & Bright Winter Gala. Dave and the Gaughan Companies are grateful to serve on the board and help the local business community on the north side of the Twin Cities metro area.
Gaughan Exhibits at 2017 MNCAR Expo
Several members from our development and brokerage team attended this year’s MNCAR EXPO hosted by the MN Commercial Association of Real Estate at the Minneapolis Depot.
Our team shared with attendees the projects that Gaughan Construction and Development are working on. They also learned about the ventures of the 70 other exhibitors and broker members. Our team is always looking for ways in which they can better serve clients.
Gaughan Sells Coon Rapids R&D Building for $3.89M (Finance and Commerce)
Gaughan Companies had a great relationship with Bayer Medical and Boston Scientific. We are grateful that commercial real estate development is on the rise, and we’re excited to bring new product to the market.
Gaughan Sells Coon Rapids R&D Building for $3.8M
9055 Evergreen Blvd., Coon Rapids
Description: 50,528-square-foot Class B flex research and development building, built in 1987 on 4.5 acres at 9055 Evergreen Blvd., Coon Rapids
Buyer: Conforti Holdings LLC, Coon Rapids
Seller: 9055 Building LLP, an entity of Gaughan Cos., Forest Lake
Purchase price: $3.885 million, with a $1.81 million down payment and new financing
Price per square foot: $76.89
The transaction: Forest Lake-based Gaughan Cos. has sold a Coon Rapids investment property it has held for two decades for $3.89 million to a new owner-user.
Conforti Holdings LLC closed July 20 on the purchase of the 50,528-square-foot Class B flex research and development building at 9055 Evergreen Blvd. The seller was 9055 Building LLP, the same Gaughan entity that bought the building for $1.5 million in 1995. The current price works out to $76.89 per square foot. Dan Hebert of Gaughan represented the company in the sale. Hebert wasn’t available this week, but company officials confirmed the sale. They noted the building was occupied over the years by Possis Medical, Bayer Medical and Boston Scientific. They declined to identify the buyer, but confirmed it is an owner-user.
Gaughan officials say they are liquidating some of the company’s older assets to generate cash for new development projects.
In July, Gaughan closed on the $1.2 million purchase of two properties at 304-308 Snelling Ave. N. in St. Paul, where it plans to build Liffey on Snelling, a 60-unit luxury apartment building.
Eric Batiza, vice president in the Minneapolis office of Colliers International, represented the buyer of the Coon Rapids building. He identified the new owner only as a Twin Cities company in need of a larger space. He declined to comment further.
Last sale: Seller paid $1.5 million in 1995
Property ID: 36-31-24-24-0014
(From Finance and Commerce)
Precast Construction at Lighthouse Lofts
“You can’t build a great building on a weak foundation. You must have a solid foundation if you’re going to have a strong superstructure.” – Gordon B. Hinckley
The next step in the construction at Lighthouse Lofts Luxury Apartments has begun! Materials arrived on site at the end of August to begin placement of precast columns, beams and planks. Once precast is complete, metal framing will begin at street level and wood panel construction will be installed on levels two through five.
Thank you to Molin Concrete Products for their hard work on the precast products.
Check out the construction progress everyday at http://www.lighthouseloftsmn.com.
Gaughan Contributes in the East Suburban Development Summit
Contributing panelist Dan Hebert, Senior VP at Gaughan Companies, participated in the East Suburban Development Summit, hosted by the Minnesota Real Estate Journal at the University of St. Thomas. Dan and the other panelists, Dwight Picha, Brian Zeller, Aaron Parrish, and Moderator Chris Eng, discussed development opportunities and activity in the eastern suburbs for the Washington County Development Update session.
Gaughan Companies has developed and built over fifty projects in the eastern suburbs over the last 48 years, including apartments, townhomes, condominiums, retail and office. Dan shared a variety of developments in the planning stage at Gaughan Companies and around the eastern suburbs.
In 2018, Gaughan Companies will be developing a property that was recently purchased in St. Paul. At the intersection of I-94 and Snelling Avenue, this property is part of a rezoning and redevelopment of the area. We are excited to be able to redevelop this site and add additional value to the community.
It was encouraging to see so many people come out to the conference who are interested in real estate development in the Twin Cities. Gaughan Companies will continue to provide expert services to clients and communities, and we hope these other businesses will join us in this endeavor.
