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Press Release

LDI Land Sale in Brooklyn Park

LDI Land Sale in Brooklyn Park
A new speculative industrial building is planned for Brooklyn Park and the Paramount Real Estate Corp team of Fred Hedberg, John Young, and Joe Schultz sold the land to get the project started.  The Paramount team has provided real estate services to Liberty Diversified International (LDI) for over a decade. This includes leasing several of LDI’s industrial buildings and, most recently, selling the excess land in Brooklyn Park.  The site is a 5.5-acre parcel at 9501 Louisiana Avenue (southeast corner of Highways 169 and 610) and the developer plans to build a 75,000 square foot state-of-the-art industrial building called Highview 610 Business Center.
Endeavor Development, founded by Josh Budish, is the developer.  Groundbreaking for the property is planned for this Spring.  The Paramount team is also handling leasing for Highview 610 and is marketing the building for fall 2021 occupancy.  The property has have great visibility to Highway 610, will be 28’ clear height, have plenty of vehicle parking, and a spacious truck court.  The building will be divisible to 15,000 square feet.
For more information about investment sales contact us at:
PARAMOUNT REAL ESTATE CORP | TCN WORLDWIDE
952.854.8290
www.paramountre.com
1650 W 82nd Street, Suite 725 | Bloomington, MN 55431

Paramount Represents Seller in Plymouth Investment Sales Transaction

Paramount Represents Seller in Plymouth Investment Sales Transaction

Fred Hedberg, Principal of Paramount Real Estate Corp was engaged in November 2020 by SJH Real Estate, a long-time client, to sell a NNN leased property it owned in Plymouth Minnesota.  The owner of SJH Real Estate had recently concluded the sale of part of his business to SiteOne Landscape Supply LLC.  SiteOne Landscape Supply LLC is owned by a publicly traded company that provides wholesale goods for green industry professionals.  SiteOne has a market cap of $6 billion with over 500 facilities throughout the United States and Canada.  As part of the purchase, SiteOne entered into a 10-year NNN lease with two-5 year options to extend for the property that was used to operate the business unit it had purchased.  During negotiations, Fred advised SJH on the best way to structure the lease.  He also advised on ways to maximize the value of the real estate and make it saleable in the future.
The Investment
The property, located at 1205 Nathan Lane in Plymouth consists of 8.15 acres and a 17,580 square foot showroom/warehouse building.  The property’s zoning allows for outside storage.  Finding a property with zoning that allows for outside storage within the I-494/I-694 loop of this size is very rare and in high demand.  The zoning, financial strength of the tenant, and the long term lease made this property very attractive to investors.
Paramount Real Estate Corp/TCN Worldwide started marketing the property For Sale on November 12, 2020.  Fred contacted several local investment groups he thought might have an interest in this property.  He received eight offers within two weeks, the majority of which were at full asking price or above.
Selecting a Buyer
The top five buyers were asked to submit their best and final offers.  Three of the five buyers were at the same price or very close to the same price.  The seller decided it would be in his best interest to close on a sale by December 31, 2020.  Paramount advised the top three buyers to make one more final offer.  They were also asked to provide evidence they could close by December 31.  Upon careful review of the final offers and discussions with each of the buyers, one was selected.
Fred and the Seller selected a buyer they felt would have the best ability to close on the sale by year end.  Both parties signed the purchase agreement on December 8, 2020 with a short due diligence period.  All parties worked together to get an appraisal and environmental study completed in less than three weeks.  Christmas even fell within that three weeks.  The sale closed on December 30, 2020 and the property sold for $500,000 over asking price.
With a time from listing to close of less than seven weeks including holidays, this was an extremely fast transaction.  As the real estate world gets more complex, most transactions are taking longer.  This sale is an example of how complex real estate transactions can still be completed in a short time frame if all parties work together towards a common goal.  It also demonstrates the strength of the Twin Cities investment sales market and investors’ appetite for good real estate with strong credit tenants and long-term net leases.
Written by:  Fred Hedberg, Principal | Paramount Real Estate Corp | TCN Worldwide

Keystone Community Services Purchases Building

Keystone Community Services Purchases Building
St. Paul will have a new food shelf specifically designed to meet the needs of local residents.  John Young, Vice President with Paramount Real Estate, along with a team including NTH and Fox Advancement, represented Keystone Community Services in purchasing a building on University Avenue for their new community food site.  This 20,000 square foot facility will be located just steps from the Green Line’s Fairview Avenue Station.  In addition to public transit, Keystone’s participants and volunteers will have access to both off and on-street parking, which is rare along the Green Line.
Keystone’s mission is to “strengthen the capacity of individuals and families to improve their quality of life”.  They are an 80+-year-old large multi-service nonprofit organization that provides human services in the areas of basic needs, afterschool programs, youth employment programs, and senior services.  Food insecurity is at an all-time high due to the slower economy and Covid-19 impacts.  Keystone is filling these needs with existing and new food programs for residents of Ramsey County.  Therefore, the new site will provide expanded resources for our community.  A capital campaign is underway to raise money for renovating and equipping the site.  Learn more at www.keystoneservices.org.

Powell Represents OffiCenters in Lease Renewal at North Loop

OffiCenters in Lease Renewal

Press Release | Powell Represents OffiCenters in Lease Renewal at North Loop
MINNEAPOLIS, MN.  Nancy Powell, Vice President at Paramount recently assisted our long-term client, OffiCenters in a lease renewal at their North Loop location in Minneapolis.  Lori, the founder and CEO of the locally held co-working and executive office sharing solutions corporation, is not daunted by the influx of co-working competitors, in fact she says “bring it on!”  For 35 years they have brought office sharing solutions to Minneapolis and St. Paul.
With 5 locations, OffiCenters offers nearly 100,000 square feet of office space solutions.  They focus on the needs of their customer, OffiCenters is not afraid to relocate to find the right space solution.  In fact in the past few years, Nancy has assisted them in relocating three of their centers.
NEW LOCATION: Union Plaza OffiCenter: 333 Washington Avenue N, Suite 300, Minneapolis MN

Press Release | Joseph Schultz Joins Industrial Brokerage Team

Is Your Physical Space Helping or Hurting Your Hiring Efforts?

JOSEPH SCHULTZ JOINS PARAMOUNT REAL ESTATE CORP | TCN WORLDWIDE AS LEASING AND SALES ASSOCIATE
MINNEAPOLIS, MN.  Paramount Real Estate Corp, Bloomington, MN is pleased to announce the addition of Joseph Schultz to the industrial sales and leasing team.  He will be working with Philip Simonet and John Young, CCIM.  Focusing his efforts on agency leasing, new business development and buyer/tenant representation in the southeast and northeast Twin Cities submarkets.
Joseph was born and raised a Minnesotan. He graduated from Saint Thomas Academy and attended college at Gustavus Adolphus College.  Therefore, he earned a Bachelor’s degree in Economics with a focus in Economic Analysis.  He comes to Paramount with real estate experience while previously working as an intern at Cushman & Wakefield before joining Paramount.
In his spare time, Joseph enjoys watching sports, particularly the Minnesota Vikings, and spending time with family and friends.

Press Release | Young Represents Warners’ Stellian in Building Purchase

Is Your Physical Space Helping or Hurting Your Hiring Efforts?

PRESS RELEASE: Young Represents Warners’ Stellian in Building Purchase

Minneapolis, Minnesota – Paramount Real Estate Corporation’s, John Young, Vice President of Sales and Leasing, represented Warners’ Stellian in their purchase of an 80,000 square foot industrial building in Minneapolis at 2601 Broadway Street Northeast.  The building will house a new retail store and will be a main distribution point for various appliances sold by the company.  Mr. Young helped the client identify the building, negotiate for its purchase, secure approval from Minneapolis’ Planning Commission, and guide the company through its due diligence.
The building was home to Boyer Ford Trucks, who moved to another location in Minneapolis. Boyer did not need the large warehouse and wanted to right-size its operation. The building is located just east of Stinson Boulevard on the north side of Broadway. It has great visibility from I-35W and easy access from Stinson Boulevard and Industrial Boulevard.
Warners’ Stellian is a 60-year old family operated business specializing in the sale of appliance.  Currently, they have nine retail locations across the Twin Cities.  They commit to providing a high level of customer service.  Being environmentally friendly is also a priority.  They recycle all appliance packaging and utilize more fuel efficient vehicles that automatically shut off after five minutes of idle.

Lisa Borene Promoted to VP of Property Management


Lisa Borene Promoted to VP of Property Management
MINNEAPOLIS, MN.  Paramount Real Estate Corp | TCN Worldwide promotes Lisa Borene to Vice President of Property Management Services.  Lisa is responsible for providing asset and property management services for the Paramount property management portfolio.  Paramount management services include third party management of office, industrial, retail and flex properties. Also receivership services throughout the Twin Cities area.
“Lisa is highly respected and trusted by our property owners for her responsive and creative problem solving, understanding of critical operational issues, and sound real estate advice.  She is a valued member of the Paramount team”, Principal Fred Hedberg said.
Lisa has been with Paramount as a Property Manager for 10 years.  Her property management efforts focus on providing exceptional service to tenants, contract negotiations, and budgeting, as well as implementing and improving tenant customer services.
Lisa has had an extensive career in commercial real estate.  Prior to working at Paramount, Lisa’s employment history was Regis Corporation and Caribou Coffee managing lease locations across the country.  Lisa brings years of experience, creativity, property knowledge, and a “can do” attitude to her tenants and property owners making her one of the Twin Cities’ premier property managers.
Paramount Real Estate Corporation is a Minneapolis/St. Paul based commercial real estate company specializing in representation, consultation, and property management services for individuals, corporations and institutional clients. Paramount provides creative solutions to complex commercial real estate transactions through knowledge, experience and innovation.

Nancy Powell Named Broker of the Year 2017


Nancy Powell Named Broker of the Year 2017
MINNEAPOLIS, MN.  Paramount Real Estate Corp | TCN Worldwide named Nancy Powell, Vice President, Paramount’s “Broker of the Year for 2017”. 
“Nancy is a hardworking energetic professional.  She is highly trusted and respected by her clients for great communication and creative negotiating skills”, Principal Fred Hedberg said.
Nancy joined Paramount Real Estate | TCN Worldwide in 2006.  Her brokerage activity focuses on advising office and industrial building owners and corporations on how to maximize the return on their commercial real estate investment.  Nancy executes the plan that best achieves her client’s business objectives.  Through Paramount’s TCN Worldwide platform, she is able to provide brokerage services both locally and nationally.
Prior to working at Paramount, Nancy was a Real Estate Manager for Best Buy, focusing her efforts on identifying and negotiating new stores as they expand into new markets.

Press Release | Hedberg & Young Represent Eden Trace Corporation

FOR IMMEDIATE RELEASE
Minneapolis, Minnesota – Fred Hedberg, Principal and John Young, Vice President of Paramount Real Estate Corp/TCN Worldwide recently represented MMC Property, LLC, a long term client, in the sale of the property located at 1400 Mill Lane, Waconia, Minnesota. The 98,688 square foot one story office-warehouse/manufacturing building includes 16.62 acres of land for expansion in the growing community of Waconia. The building is fully leased to one tenant.
The property sold for $4,350,000 and closed on September 27, 2017. Paramount also identified the Buyer, Eden Trace Corporation, a private investment entity from Minneapolis, Minnesota.
For more information on Paramount news, please see www.ParamountRE.com/news/.
Paramount Real Estate Corporation/TCN Worldwide is a Bloomington, MN based commercial real estate company that provides a full range of services including leasing, sales, property/asset management, project management, real estate development and investment services locally and throughout the United States.

Press Release | Powell Represents OffiCenters

Nancy Powell, Vice President of Paramount Real Estate Corp/TCN Worldwide recently represented OffiCenters with two real estate transactions.  Congratulations goes out to them for their grand opening of a new 17,500 square foot center in Minnetonka located at 12800 Whitewater Drive.  Additionally,  renewed and expanded their France Avenue location in Northland Plaza.  OffiCenters provides clients with a state-of-the-art innovative executive office and co-working space options.  Congratulations to the OffiCenters’ team for their success and exceptional locations, with 5 centers in the metropolitan area, their locally owned and operated centers are an easy choice for exceptional executive and virtual office solutions.
Paramount Real Estate Corporation/TCN Worldwide is a Bloomington, MN based commercial real estate company that provides a full range of services including leasing, sales, property/asset management, project management, real estate development and investment services locally and throughout the United States.
Press Release – OffiCenters 6-20-16 edit