A Hy-Vee holiday present

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Ryan Companies has sold their Hy-Vee project in Brooklyn Park for $24.1 million on December 23rd.    They purchased the 16.3 acre site in 2015 for $3.38 million, and developed the 103,882 sf project for a 96,000 sf Hy-Vee supermarket and the adjacent gas station.  This store opened earlier in 2016, and is one of five existing stores that have opened in the Twin Cities.  It leases their newly opened store in Eagan at Central Park Commons, but owns their locations in New Hope, Oakdale and Lakeville.  Skip Melin of Cushman & Wakefield NorthMarq was recently quoted in Finance and Commerce, stating “Hy-Vee typically likes to own as opposed to lease.   It’s great for the Twin Cities that grocery-anchored centers are still trading at a premium, and trading quickly.” 

 The buyer was Hurd Real Estate out of West Des Moines, IA, a company that specializes in retail across the country, including ownership of 19 Hy-Vee leased properties in the Midwest. 

 

Those HyVees . . . they just keep coming!

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With Eagan now open, that brings the current count to five stores, including New Hope, Oakdale, Lakeville, and Brooklyn Park.  Six sites that are either in construction or in planning include Cottage Grove, Robbinsdale, Maple Grove – two sites including 101 & 10, and Maple Grove Parkway, Savage and now Farmington.   Whew!

 

A 2nd Dunkin’ Donut deal is signed for the Twin Cities

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Vantive Group, a Dunkin’ Donuts franchisee, is opening a new 2,000 sf shop at 2425 Rice Street in St. Paul.   A separate franchisee group, Kod Kod Enterprises, will open the first Dunkin’ Donuts in the Twin Cities in New Hope.    Colliers is representing both franchisee groups.

 

 

 

And the donut wars begin . . .

The Minneapolis/St. Paul Business Journal is reporting that the first Dunkin’ Donuts lease has been signed in the Twin Cities. Franchisee Kod Kod Enterprises will be opening in New Hope at the intersection of 42nd and Winnetka, near the new HyVee supermarket. Java Properties will demolish the Gas N Splash car wash currently on the site and construct a new building with a drive-thru for Dunkin. Kod Kod Enterprises was represented by Molly Townsend and Ted Gonsier of Colliers. Construction should start in June.