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FORMER KABUKI RESTAURANT SITE SOLD IN EDEN PRAIRIE

FORMER KABUKI RESTAURANT SITE SOLD IN EDEN PRAIRIE
Site Location: 6534 Flying Cloud Drive | Eden Prairie, MN
Paramount Real Estate Corp listed the former Kabuki Restaurant site for sale in the fall of 2018.  The 2.5 acre site provides easy access to Crosstown 62 and Hwy 169.  It is located between Shady Oak Road, on the West, and Valley View Road, on the South.
Finding the Right Fit…
Due to its location, interest was high and the site tours were frequent.  Interested users proposed many different uses.  These included a dog daycare, pickle-ball courts, various types of restaurants and retail, a daycare, a brewery, storage facilities and office space.  Many also wanted to use the site for outdoor storage, but current zoning does not allow this.  In addition, the City was changing the zoning from Highway Commercial to Industrial Tech Flex.  That alone prohibited many of the uses proposed.  The Seller actually agreed to two separate purchase agreements. The agreements were then subsequently voided because the city discouraged both users’ proposed plans.
Challenges to Overcome…
The sales process was an interesting one.  The building was in poor condition with the HVAC, roof, electrical, plumbing and restrooms needing updating.  The seller held an online auction to clear out much of the remaining kitchen equipment and assorted restaurant accessories.  Unfortunately what followed the auction was a bit devastating; vandalism and unsold stolen equipment.  As if that wasn’t enough, the former Kabuki site had household junk dumped and abandoned on four different occasions.
A Closed Transaction…
In December 2019, we finalized yet another purchase agreement for the former Kabuki Restaurant site.  The Coronavirus did have an effect as well, delaying the normal due diligence process and typical closing.  The result… business closings and financial issues.  Amending and extending the purchase agreement three times also didn’t speed anything up.  The sale did ultimately close in June 2020.
It was a long sales process!  Thankfully the Sellers as well as their legal counsel, were patient and willing to work toward a final agreement.  We commend them for their willingness to work through the many problems and issues that occurred throughout the process.  That being said, all parties are relieved that the property finally closed.
Written By: Bob Johnston | Vice President

Paramount Has Moved. We Are Here to Help You.

PARAMOUNT HAS MOVED.

     We hope that this message finds you and your family healthy and adjusting to the new normal of social distancing and working from home. After a week of uncertainty about whether or not the move to our new headquarters could be completed on schedule, particularly with a stay-at-home order in place, all of our vendors came together and we moved into our new space at Southpoint Office Center on March 31, 2020.


As of April 1, 2020, our new address is:

Southpoint Office Center
1650 W 82nd St, Ste 725 | Bloomington, MN  55431
(All of our other contact information remains the same.)

Stop in and check out our new digs!

WE ARE HERE TO HELP YOU.

     We are looking forward to the day when the entire Paramount Team can come back together to work in our new office space. In the meantime, we are working remotely and continuing to provide sound real estate advice along with seamless service to help our clients navigate in this rapidly changing business environment. 

     No one can predict for certain what the world will look like after COVID-19 is brought under control. Paramount has endured through many challenging times during the past 24 years and we are committed to be here for you in the future. Stay healthy, think positive and please let us know if we can be of any assistance to you.
Best Regards,
Paramount Real Estate Corp | TCN Worldwide

Fred Hedberg, CCIM, SIOR | Principal

(952) 854-8290