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JUST SOLD!!! 45 EMPIRE DRIVE | ST. PAUL

JUST SOLD!!! 45 EMPIRE DRIVE | ST PAUL, MN

Congratulations to Ebisso Uka, owner of Rift Valley Transportation for his purchase of the building at 45 Empire Drive, St. Paul, MN. Rift Valley provides transportation to children who have no other way to attend school. The 33,000 square foot building will be used for storage and maintenance of vehicles used in the transport of children to and from school.
The building was formerly the home of Sitma USA, an Italian based manufacturer of integrated mail processing equipment. It was built and added to in 1991 and 1997, respectively. The 27,000 square foot warehouse will house up to 80 vehicles and the 6,000 square foot office will be the hub of the 200-person Rift Valley company.
This was a complicated transaction. It required Phase II environmental and vapor testing, a Class N license from the City of St. Paul, in-depth building due diligence, construction bidding, and financing approval. John Young and Joe Schultz guided this purchase through its many hurdles with a very short due diligence period. Both John and Joe extend a hearty “Congratulations!” to Mr. Uka and his company.
John and Joe continue to work for Mr. Uka in the lease or sale of his current building at 1033 Thomas Avenue, St. Paul. This 14,000 square foot building is near Lexington and University Avenues and is a great location for another small business growing in St. Paul.
Written by John Young, CCIM | Vice President

TCN Worldwide Named in the Top 25 Commercial Real Estate Brands for 2020

We are proud to announce that once again TCN Worldwide has been named in the top 25 for Lipsey’s Top Brand Survey. Each year the Lipsey Company performs a survey to establish the most recognizable names inside of the Commercial Real Estate Industry and this year TCN Worldwide increased its brand recognition moving up two spots. Thank you to all who voted, and especially our TCN members!
Learn more about Lipsey’s Top Brand Survey here: https://lipseyco.com/top-commercial-real-estate-companies/

Call Paramount Real Estate Corporation
for all of your real estate needs.
(952) 854-8290

Minneapolis Building Sells to Development Firms

The former Java Jacks & Studio 2 Building in Minneapolis will become a new neighborhood hang out with the addition of a yet-to-be-named restaurant.  John Young, Vice President Brokerage Services sold the building to a partnership between United Properties and Westwood Hills (a development company).  Plans are in the works for a new restaurant, which should be open in late Summer or early Fall.  The property garnered several offers and a lot of interest by the adjoining neighborhood.  It has been a favorite in the area for a couple decades and now it will have another great community asset, coming soon.

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Call John Young
(952) 854-5067
jyoung@paramountre.com

Top TCN Worldwide Member Deals! (2018-Q2)

John Young, CCIM’s transaction with Warner’s Stellian made TCN Worldwide’s-Top Industrial Deals (Q2-2018).  Read more: 2018_Qtr2 Commercial Focus.  Warner’s Stellian purchased an 80,000 SF industrial building located at 2601 Broadway Street NE, Minneapolis. 
TCN Worldwide, a consortium of independent commercial real estate firms, provides complete integrated real estate solutions locally and internationally. With approximately $58.6 billion in annual transactions, TCN Worldwide ranks as one of the largest service providers in the industry. An extensive range of real estate services coupled with a personal commitment to exceed client expectations is what allows TCN Worldwide to be a leader within the commercial real estate industry. Formed in 1989, TCN Worldwide is comprised of over 5,000 commercial real estate professionals serving more than 200 primary and secondary markets worldwide.