The Grand Hotel in downtown Minneapolis is undergoing a renovation that will turn the property into Hyatt’s upscale Centric brand – the first in Minnesota. The existing rooms are being renovated and an additional 14 rooms are being added for a total of 154 room. The first floor ballroom and restroom are also being updated.
Manager JLL has conceptual plans for redevelopment of the south side of the Rosedale Center regional mall located in Roseville, MN. While not locked in stone, plans call for massive redevelopment that could add 562 apartments, 290 hotel rooms, 100,000 square feet of office space and a net increase of 220,000 square feet of commercial space.
The current proposal is to build the market rate apartments on the east side, active apartments on the west, with hotel and entertainment uses in the middle. The mall’s vacant Herberger’s store would be demolished as part of the redevelopment.
Hotel Indigo pushes the Madison market past 10,000 beds for the first time – and more are on the horizon. The 5-story boutique Hotel Indigo, owned by the joint venture group Klueter Master Tenant LLC and managed by Great Lakes under a license agreement with InterContinental Hotels Group, opened April 11th and pays homage to the history of the area as well as Madison as a whole.
Click here to read the full articled featured in the Wisconsin State Journal.
A hotel and conference center development near Brookfield Square Mall is moving forward after the city executed the needed land deals, setting up a start of construction later this year.
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Commercial real estate is in Ronn Thomas’ blood, but his career took a circuitous and at times high-altitude route before he landed with the Bloomington office of Cushman & Wakefield. He now is a broker and senior director of C&W’s hospitality division.
His parents owned a commercial real estate company in Rochester, Minnesota, where he spent the latter part of his young life, so he always expected to end up in the business.
“I thought I would go to school and then take over,” Thomas said. “But when I graduated I knew Rochester was too small to go back to right away. My parents told me to go get some straight commission sales experience in the Twin Cities.”
As fate would have it, Thomas took a 15-year detour before he at last landed in real estate, first through a career selling wine wholesale and then through 12 years in commercial aviation.
Thomas joined C&W, then United Properties’ real estate shop, in April 2002.
Finance & Commerce recently sat down with Thomas to find out more.
Developer Curt Brink plans to redevelop the old Mautz Paint building on the 900 block of East Washington Avenue in Madison, WI, into a boutique hotel before building a larger-scale office building on the property. The location of the Kleuter building works for a hotel because of the attractions from the developments and proximity to niche shopping.
Redevelopment of the Kleuter building would be the next in a long line of projects for Madison’s Capitol East District. The most prominent developments are the Constellation and Galaxie buildings on the northeast and northwest corners of East Washington Avenue and North Livingston Street. On the 1000 block, Stone House Development, Inc. is constructing the 11-story Lyric Apartments building.
The average daily room revenue rose 5.5 percent to $119.62 between 2015 and 2016 in the Twin Cities marketplace.
For more than half of its 40-year existence, CSM Corporation has used the same long-term hold strategy on which it was founded to solidify its position in the hotel industry. Steve Schlundt, a 20-year CSM employee who in September was named president of its lodging/residential business, said that philosophy won’t change anytime soon.
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