Gaughan Remodels for Chic iLash Beauty Bar
Congratulations to iLash Beauty Bar on opening their Forest Lake location! Owner Jacqueline Loerzel leased her new space in December with the help of our VP of Commercial Accounts, Lucas Gaughan, and she is now open for business in the Town Square Building.
The iLash Beauty Bar is a peaceful and relaxing boutique. Gaughan Construction was grateful for the opportunity to remodel the new space. Jacqueline has been in the industry for 11 years and enjoys getting to know her clients and their families. She has even provided a dedicated area for children to play in while they wait. Jacqueline has many clients who drive up from the Twin Cities, so this location was a perfect option.
You can visit Jacqueline at iLash Beauty Bar at their new location: 20 N Lake St, Suite 320, Forest Lake, MN 55025
If your business is expanding or needs a remodel, call us at 651-464-5700!
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.
Lucas Gaughan Published in HREB Magazine
Our VP of Commercial Accounts, Lucas Gaughan, was recently published in the Heartland Real Estate Business magazine. He commented on the retail market in Minneapolis and the growth that the Twin Cities has seen in the last few years. Check out the article for more!
Lucas Gaughan is a leading Commercial Real Estate Broker for Gaughan Companies. He is responsible for the sales and leasing of commercial office, retail, and industrial properties, as well as new business development. His clients appreciate his honest approach that consistently provides for a smooth buying, selling, and leasing process. To contact Lucas via email, phone or LinkedIn, click here.
Compass Early Learning Celebrates Grand Opening
We would like to extend our congratulations and a warm welcome to Compass Early Learning, our newest tenant! Their grand opening was held on Tuesday, October 3, and was a great success!
Located in Coon Rapids, this is the first location for the early childhood education center. They are currently enrolling children from infants to preK. Each room at the center has a focus on a different subject, including Music and Movement, S.T.E.M. (Science, Technology, Engineering, and Math), Art and Dramatic Play. The children will rotate to different rooms for experience with each subject and will have a homeroom to come back to. By doing this, they will have a sense of routine and will be able to develop social skills and friendships with the others in their homeroom.
The owners, Amy Steiner and Ginger Olson, both have backgrounds in early childhood learning and are passionate about providing a stable and well-rounded learning environment for children. Both owners grew up in Coon Rapids, so this location is dear to their hearts. Amy said, “It felt like coming home.”
To learn more about Compass Early Learning, visit their website at www.compassearlylearningmn.com.
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)
CoStar Retail Statistics: Minneapolis Retail Market Mid-Year 2017
Click on the image to read the full CoStar Retail Statistics report.
Snelling Ave. at I-94 Will See New Development in 2018
St. Paul, MN – July 21, 2017 – Gaughan Companies, Commercial Real Estate Developer and General Contractor, closed on the purchase of 304-308 Snelling Avenue in St. Paul on July 12, 2017. The final decision for the purpose of the new development is still being considered. Gaughan Companies is eager to develop in the city of St. Paul again.
Just off of I-94, the property is within walking distance of the Minnesota United FC Stadium and the Snelling Avenue Metro Transit Green Line. In addition to a new Whole Foods, this ideal neighborhood is also conveniently located near several major universities, including Concordia University, Hamline University, Macalester College, University of St. Thomas and St. Catherine University. Over 42,000 vehicles pass by this corner every day.
The current building was constructed in 1913, and the property has been owned by the same person for nearly 40 years. Gaughan Companies is looking forward to the opportunity to redevelop this site and build a new facility for the community.
For more information, visit www.gaughancompanies.com.
Robust Economy Ripe for Development
While many people are hesitant when faced with a change, real estate developers welcome change and are always up for a challenge; it comes with the territory. At a development site, people can generally only see that a building is worn down and beyond use, but they don’t want to let go of what once was.
An artistic, visionary developer can see beyond what may currently be there. They recognize the potential in a worn down building, if it can be repurposed instead of demolished. But sometimes, a building is just beyond repair. It is a developer’s job to discover a greater purpose for the site that far exceeds the community benefits of what was once there.
Developers face many challenges and are frequently stereotyped, but they are willing to take high risks to promote community growth and reward. The right developer will select a site design that is not only right on the inside but focuses attention to the exterior. Opposition to developers are often concerned about what the appearance of the building will be. Most developers don’t understand this, but this is the approach that Gaughan Companies takes.
A recent article in the Star Tribune looks into the increase in development in the Twin Cities. Contact one of our development or brokerage experts at Gaughan Companies, and let them put their proven skills and expertise to work for you on your next project.
-Patrick Gaughan
