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Minneapolis: 129 Plymouth    Standard Heating & Air Conditioning    Mankato: Retail Commercial Lease


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129 Plymouth Ave.-North Loop-New Construction

129 Plymouth Ave.-North Loop-New Construction

LOCATION:

-The corner of 2nd Street North and Plymouth Avenue across the street from the New Home of Standard Heating and Cooling.

VISION:

-A restaurant, retail and convenience center targeted to serve the urban lifestyle of residents, parkway enthusiasts and professionals in the North Loop residential and commercial corridor along the beautiful Mississippi.

CONTACT:

Project Manager Aaron Diederich at
aaron.diederich@lupedevelopment.com

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From polluted land to enclosure, construction enclosed within 66 days.
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From polluted land to enclosure, construction enclosed within 66 days.

Loading dock facilities and resource recovery area provide maximum vehicle loading and unloading efficiency.
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Loading dock facilities and resource recovery
area provide maximum vehicle loading and unloading efficiency.

One-level warehousing, fabrication, parts and loading we neatly integrated into an efficient floor plan.
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One-level warehousing, fabrication, parts and
loading were neatly integrated into an efficient floor plan.

Finished Plymouth Avenue façade of the New Standard Heating HQ
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Finished Plymouth Avenue façade of the New Standard Heating HQ

Official ribbon-cutting, October 1, 2009. (l-to-r) Chairman Ted Ferrara, VP Todd Ferrara, Mayor RT Rybak, Council Member Don Samuels.
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Official ribbon-cutting, October 1, 2009. (l-to-r) Chairman Ted Ferrara, VP Todd Ferrara,
Mayor RT Rybak, Council Member Don Samuels.

Standard Heating & Air Conditioning

A third-generation family business in the Twin Cities for over 80 years, Standard Heating & Air Conditioning was at its South Minneapolis location for the last 60 years. With over 80 employees – many with high paying technical jobs - the business had outgrown its original facilities and was literally bursting at the seams.

Owners Ted and Todd Ferrara recognized the need to expand their facilities to grow the business. A cramped and crowded two-level operation was not efficient. They wanted to adapt to the changing needs of the residential service industry, and retain the critically important niche they had developed in the residential service sector. For relocation and development solutions, Ted and Todd turned to Lupe Development Partners.

Starting in 2005, Lupe carefully mapped the critical elements of a Standard relocation by focusing on existing buildings and sites that met the exacting requirements of the Standard business plan. Key to the Owners was: (1) the need to be centrally located, (2) close to highways and arterials, (3) proximity to the Dunwoody Institute and its technical training programs, (4) visibility and curb appeal from major streets, (5) adequate zoning for resource recovery & recycling operations, (6) 2 acres for vehicular storage and fleet maintenance, and (7) proximity to a plentiful source of educatable workforce.

The Lupe solution reflected our unique expertise and skill set. We identified a vacant and polluted parcel in the City of Minneapolis North Washington Industrial Park (NWIP) that was the basis for a larger private land assembly. The parcel at the intersection of Plymouth Avenue and Second Street met all the client criteria.

Working with the Community Planning and Economic Development (CPED) Department, Lupe and Standard patiently arrived at a redevelopment agreement that satisfied the competing needs of the neighborhood, a jobs park advisory committee and the two Council Members whose Wards were affected.

Lupe successfully assembled the land, coordinated the state and city pollution remediation grants, land use applications, title work, financial underwriting, and closing due diligence. Lupe also prepared the construction program, selection of vendors and contractors, negotiated contracts and performed client project management and delivery oversight. The result was a project that met all of the client’s expectations, while staying on program and budget. Start of construction to occupancy was six months.

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Adams Street - 1920 Makato, MN 56001

PROPERTY OVERVIEW

Excellent visibility and easy access make this
location a perfect opportunity for a retail user
or even a restaurant use with a drive-thru.
High traffic location near River Hills Mall and
many established businesses. Landlord is
willing to participate in Tenant
Improvements and would consider splitting
the space.

PROPERTY DETAILS

Bldg Size (SF): 7,488
Available (SF): 5,000
Price: $18.00/sq. ft./yr
Lease Type: Triple Net
Operating Exp: $4.55/sq. ft. est.
Year Built: 1996
Parking: Drive-up
Zoning: Highway Business