Association Team Joins in for Toys for Tots
The Gaughan Association Management team attended the recent Community Associations Institute – MN Chapter holiday party. It was a great event to network with vendors, and we got to support a good cause by supplying donations for Toys for Tots. Happy Holidays!
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 Companies Blessed to Serve the Poor
Our team members volunteered at Sharing and Caring Hands this November and December by preparing and serving lunch meals to the poor. We look forward to these events every year.
We are thrilled to be able to support this organization because the work that Founder Mary Jo Copeland and her team does makes an impact on the less fortunate. She provides a safe and engaging environment in which people can help others who lack basic resources. Over 94% of money raised for the organization goes directly to the poor.
Learn more about Sharing and Caring hands at sharingandcaringhands.org.
Gaughan Construction and Art and Science Academy Celebrate with Ribbon Cutting
Beginning with breaking ground on June 22, 2017, to the final inspection on October 26, 2017, we have loved every step of constructing this project with the Art and Science Academy board, staff and families. The students and teachers have officially moved into their new building, and we were honored to be able to celebrate with them at the ribbon cutting ceremony this week!
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)
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.
CoStar Retail Statistics: Minneapolis Retail Market Mid-Year 2017
Click on the image to read the full CoStar Retail Statistics report.
