News - Founders Properties

9/14/2021 - JLL Capital Markets closes $114 million industrial sale in Indianapolis market

RE Journals

JLL Capital Markets has closed the $114 million sale of ConAgra Distribution Center, a 1.5 million-square-foot, Class-A bulk regional distribution center triple net leased to ConAgra Brands in the Indianapolis-area community of Frankfort, Indiana. JLL marketed the property on behalf of the seller, Founders Properties, L.L.C. W. P. Carey purchased the asset.The facility was completed in 2015 a...

6/29/2021 - Founders Properties, L.L.C. Announces Appointment of Ben Yarbrough as Asset Manager

Founders Properties, L.L.C. is eager to announce that Ben Yarbrough recently joined the team as an asset manager. In his new role, Yarbrough will be responsible for managing a diverse commercial real estate portfolio and providing asset management services for private real estate partnerships that include industrial and office properties.“We're thrilled to have Ben join our Founders' team," sai...

6/3/2021 - Founders Properties’ focus on industrial assets yields strong results

Founders Properties, L.L.C. announced the completion of the company's Income Fund III, which strategically acquired approximately $200 million of industrial and office assets around the country. Founded nearly eight years ago, Fund III was the first fund created and completed by the new management team, posting strong returns in the mid-teens for investors throughout its duration.“With Fund III...

5/12/2021 - NAIOP Scholarship Recipient Kelsey Gregory Joins Founders Properties, L.L.C.

Further showcasing her expertise, Gregory was recently awarded the Prologis Inclusion CRE ScholarshipFounders Properties, L.L.C is eager to announce that Kelsey Gregory has recently joined the team as a senior asset manager. In this new role, Gregory will be responsible for managing a national commercial real estate portfolio and providing asset management services for private real estate par...

3/8/2021 - Founders Properties, L.L.C. Acquires Two Industrial Facilities in Illinois

Founders Properties, L.L.C. announced the purchase of two properties as part of the company's Income Fund V, which focuses on stable, core and core+ industrial and office properties throughout the United States. Both acquired properties are located in Illinois and total $24.25 million and approximately 220,735 square feet. “These properties fit perfectly within our existing portfolio of investm...

3/8/2021 - Founders Properties, L.L.C. Continues Growth of Industrial Portfolio with Recent Acquisition in St. Louis, Missouri

Founders Properties, L.L.C. announced the purchase of an industrial facility located in St. Louis, MO. The acquisition marks Founders Properties' first venture into Missouri, further boosting the geographic diversification of its joint venture fund. “This recent acquisition amplifies our existing portfolio of investments located within key markets," said Chris Courneya, vice president of invest...

2020 Articles

11/10/2020 - First tenant signs long-term lease for portion of Middletown distribution center

Journal-News

A building constructed in Middletown without tenants yet planned did not stay vacant for long. CBRE Cincinnati Industrial said last week it leased a 250,000-square-foot portion of the 613,000-square-foot 75 Logistics Center, just north of intersection of Yankee and Todhunter roads. Michelle Goret, Cintas Corp. vice president of corporate affairs, told the Journal-News that its fast-growing firs...

3/20/2020 - 2020 40 Under 40: Kim Hofstede, Founders Properties

Minneapolis/St Paul Business Journal

As senior vice president of investments and portfolio management at Founders Properties, 39-year-old Kim Hofstede has become known as a major deal producer. In just four years at the company, she's completed over $1 billion of real estate disposition and financing transactions. Last year was particularly notable with $350 million in transactions, including the sale of Xcel Energy Inc.'s downtow...

1/8/2020 - Founders Properties Asset Manager, Nick Trevena, Earns CCIM Designation

Founders Properties, L.L.C announced today that asset manager Nick Trevena has earned his Certified Commercial Investment Member (CCIM) designation. This accomplishment recognizes Trevena's expanded knowledge, experience and commitment to providing strategic asset management services for private real estate partners in the industrial, office and retail-mixed-use sectors. It also positions him ...

2019 Articles

12/18/2019 - Opus sells new Edina apartments for $69M

MSP Business Journal

The Opus Group has sold The Loden, a 246-unit apartment building near highways 169 and 62 in Edina. The buyer is two funds managed by Boston-based Eaton Vance Real Estate Investment Group. An electronic certificate of real estate value said Eaton Vance paid $68.7 million for the property, which includes $1.1 million worth of furniture, fixtures and equipment. The sale price works out to $279,00...

12/16/2019 - Xcel headquarters, 510 Marquette buildings sold in downtown Minneapolis

MSP Business Journal

Two downtown Minneapolis office buildings — one just a few years old, the other with roots dating back almost a century — sold last week in separate deals.The Star Tribune, citing an electronic certificate of real estate value filed Friday, reports on the $108 million sale of part of the corporate headquarters of Xcel Energy Inc. to an affiliate of Sentinel Real Estate Corp., a New York City-ba...

11/14/2019 - Founders Properties Executive, Janet Ost, Recognized as a 2019 Top Women in Finance Honoree

Founders Properties, L.L.C announced today that Janet Ost was recognized as a 2019 Top Women in Finance honoree in Minnesota by Finance & Commerce. Ost, vice president of finance and administration at Founders, has been with the company for nearly 35 years and is responsible for business management and reporting of the various entities managed by Founders Properties. “Since her early days at F...

11/1/2019 - Founders Properties, L.L.C. Expands Fifth Real Estate Investment Fund with Fourth Acquisition in Rogers and Brooklyn Park, Minnesota

Founders Properties, L.L.C. announced the purchase of two industrial manufacturing facilities located in Rogers and Brooklyn Park, Minn., marking the fourth acquisition in the company's newly launched Income Fund V, which focuses on stable, core and core+ industrial and office properties throughout the United States. “This recent acquisition further diversifies our existing portfolio of invest...

10/14/2019 - CBRE helps close sale of 93,000-square-foot office property near Columbus

RE Journals

CBRE recently represented Founders Properties, L.L.C. in the sale of 600 N. Cleveland at Westar Place, a 93,519-square-foot office building in Westerville, Ohio, to Amcor Holdings of Montreal, Canada.Sonja Dusil, Ryan Watts, Judd Welliver, Tom Holtz and Bentley Smith of CBRE Minneapolis and Donald Roberts of CBRE Columbus represented Founders Properties, L.L.C. in the transaction.“Columbus has ...

10/8/2019 - Founders Properties, L.L.C. Continues Growth of Office Portfolio with Recent Acquisition in Columbus, Ohio

Founders Properties, L.L.C. announced the purchase of two Class A office buildings – One & Two Easton Oval – in Easton Town Center, a master-planned community with premier shopping, dining, and entertainment in Columbus, Ohio. “This recent acquisition in a key Midwest growth market directly aligns with our investment strategy centered on an overall goal of portfolio diversification, in-depth k...

8/29/2019 - Founders Properties, L.L.C. Launches Income Fund V

Founders Properties, L.L.C. Launches Fifth Real Estate Investment Fund to Further Expand its Offerings in Growth MarketsFounders Properties, L.L.C. announced the purchase of three properties as part of the company's newly launched Income Fund V, which focuses on stable, core and core+ industrial and office properties throughout the United States. Income Fund V will target $80-$125 million worth...

7/29/2019 - CBRE sells Amkor Technology HQ in ASU Research Park

AZ Big Media

CBRE announced the sale of a 97,504-square-foot office property in Tempe, Arizona’s Arizona State University Research Park that serves as Amkor Technology’s corporate headquarters. Phoenix-based Strategic Office Partners, which is owned by TPG Real Estate Partners, purchased the property from Founder’s Properties, L.L.C. of Minnetonka, Minn. Barry Gabel, Chris Marchildon and Will Mast of CBRE i...

6/24/2019 - Minneapolis' Founders Properties names VP of investments and acquisitions

RE Journals

Chris Courneya has been promoted to vice president of investments and acquisitions at Minneapolis-based Founders Properties, L.L.C. Courneya will continue to be responsible for acquiring new industrial and office properties to expand Founders Properties' investment portfolio. He will also provide support on dispositions and joint ventures. Before joining Founders Properties, Courneya spent five...

5/14/2019 - Firm started by Best Buy founder grabs Raleigh office buildings

Minneapolis/St Paul Business Journal

Founders Properties, the real estate firm founded by Best Buy Co. Inc. founder Richard Schulze and the late Opus Corp. founder Gerald Rauenhorst, has bought an office complex in North Carolina. The Spring Forest Business Center – located at 3100 and 3200 Spring Forest Road in Raleigh, N.C. – fetched $22.25 million in the sale. Founders' recently formed...

3/20/2019 - JLL Closes $10.06 Million Sale in Unique Arizona Medical Submarket

Commercial Executive Magazine

Phoenix, Ariz. – On behalf of James Greaves with G2 Capital, JLL has completed the $10.06 million sale of 5416 E. Baseline Rd., a two-story, 63,834-square-foot Class A office building located within Inverness Commons Business Park, in the hub of Mesa, Arizona’s booming Higley Road medical corridor. Submarket stability, combined with recent and extensive renovations, have the building 92 percent...

2018 Articles

10/25/2018 - Founders Properties Snags Columbus Assets for $21M

Commercial Property Executive

Founders Properties has paid $21.1 million for a two-property portfolio in Columbus, Ohio. The assets, Northwoods II and 825 Tech Center Drive, belonged to The PNL Cos. and were acquired via a $14.1 million loan held by Reinsurance Group of America, according to real estate data provider Yardi Matrix. NAI Ohio Equities leases and manages both buildings.Northwoods II is located at 8101 N. High ...

8/30/2018 - CBRE Arranges Sale of Chandler Airport Center I

Commercial Executive Magazine

PHOENIX, ARIZ. – CBRE has brokered the sale of Chandler Airport Center I, a 90,911-square-foot office building located at 1850 E. Northrop Blvd. in Chandler, Ariz. The property was 100 percent leased at the time of sale.Barry Gabel, Chris Marchildon and Will Mast with CBRE Capital Markets, Institutional Properties in Phoenix, represented the seller, Founder’s Properties, LLC of Minnetonka, Mi...

7/11/2018 - Opus wraps construction of 246-unit apartment building in Minnesota

RE Journals

The Opus Group recently completed construction on The Loden, a four-story, 246-unit multifamily development in Edina, Minnesota.The site has undergone a transformation from a vacant office building into a high-end residential offering near retail, employers and nearby access to outdoor trails.Located between Highway 169 and Highway 100, the redevelopment is adjacent to the regional trail system...

7/9/2018 - These 3 projects are generating the most investment in Middletown

Dayton Business Journal

3) Middletown Logistics Center The OPUS Group and Founders Properties LLC broke ground on a massive, spec industrial building along the Interstate 75 corridor in late June. The 612,000-square-foot building, known as the Middletown Logistics Center, was listed between $16 million and $21 million. The logistics center will have 36-foot clear height ceilings, 40 dock doors, 79 trailer positions an...

7/3/2018 - Minneapolis' Founders Properties hires director of investments

RE Journals

Chris Courneya has been hired as director of investments for Minneapolis-based Founders Properties.In his role, Courneya will focus on acquiring new industrial and office properties to add to Founders Properties’ investment portfolio. He will also provide support on dispositions and joint ventures.Before joining Founders Properties, Courneya spent five years at Onward Investors, LLC in Eden Pra...

5/30/2018 - Developers to put up massive spec building near I-75 corridor

Cincinnati Business Courier

The Opus Group and Founders Properties LLC plan to start construction soon on a huge, speculative industrial building along the Interstate 75 corridor.The developers plan to start construction in June on a more than 612,700-square-foot industrial building in Middletown. Doug Swain, vice president and general manager of Opus Development Co. LLC, said the amount of industrial space being leased “...

5/24/2018 - CBRE Completes $6.4 Million Sale of West 101 Gateway in Phoenix

Commercial Executive Magazine

PHOENIX, ARIZ. – CBRE has completed the $6.4 million sale of West 101 Gateway, a 50,040-square-foot office property located at 9520 W. Palm Lane in Phoenix. The value add offering was 96 percent leased to office and medical tenants, with an additional 19,411 square feet of space that will be coming available in the building at year’s end.Barry Gabel, Chris Marchildon and Will Mast with CBRE Cap...

2/19/2018 - Bloomington Office Complex Sells for $48 Million

MSP Business Journal

A Portland, Ore., investor with a growing Twin Cities portfolio has acquired Southpoint Office Center in Bloomington for $47.8 million.Felton Properties Inc. bought the 366,800-square-foot complex on Dec. 20, according to a certificate of real estate value made public Friday. The seller is an entity tied to Minnetonka-based Founders Properties, which is an investment fund set up by Best Buy Co...

2017 Articles

12/26/2017 - Southpoint Office Center sells for $47.8 million

Star Tribune

Southpoint Office Center in Bloomington has been sold for $47.8 million, and the new owners said they would be investing in improvements to the property.MSP Southpoint Equities LLC, based in Portland, Ore., bought the 15-story, three-building complex from FFII MN SP, a properties fund whose executive offices are in Minnetonka, according to a filing with the Minnesota Department of Revenue.The ...

10/20/2017 - UnitedHealth Group buys former G&K Services building in Minnetonka

MSP Business Journal

UnitedHealth Group Inc. paid $22 million for the former headquarters of G&K Services, which is next door to UHG's Minnetonka campus. The seller is Founder Properties, according to an electronic real estate filing made public Monday. Founders is a real estate investment company that was launched by Best Buy Co. Inc. founder Richard Schulze and Gerald Rauenhorst, the late founder of The Opus Grou...

8/28/2017 - Westcore Sells 114K sf Industrial Facility 780 Shiloh, TX

Connect Texas, Commercial Real Estate News

Westcore Properties sold a 114,655-square-foot industrial property in Plano, TX to Founders Properties LLC. The price on the asset, at 780 Shilo Rd. in Dallas’ northeast submarket, was undisclosed; it is assessed at $10.8 million. The San Diego-based seller had owned the property, which delivered in 2001, for more than 10 years.The building in Research Technology Crossroads Business Park is 100...

2/14/2017 - Kim Hofstede named NAIOP Minnesota president

Finance & Commerce

Founders Properties Vice President Kim Hofstede recently started her term as president of NAIOP's Minnesota chapter. Hofstede leads the organization's board of directors on strategic initiatives including work on public policy and education, as well as in representing Minnesota's commercial real estate development industry. She will serve as president for the entire year. Hofstede has served i...

2016 Articles

6/7/2016 - This Week’s Chicago Deal Sheet

Real Estate Bisnow

CBRE's Michael Caprile, Zach Graham and Ryan Bain were the sole brokers in Serra Laser Holdings' sale of a 129k SF industrial property at 2400 Commerce Dr in Libertyville to Founders Properties. Serra Laser Holdings is leasing back the property from the new owner.

5/11/2016 - Founders Properties names Hofstede vice president

Finance & Commerce

Founders Properties, LLC announced this week that Kim Hofstede has been hired as its vice president. "Kim is a welcome and strategic addition to our team," said Wade Lau, president and CEO for the Minnetonka-based firm, in a prepared statement. "She brings deep expertise that will add significantly to our existing capabilities, supporting our commitment to providing strong returns for our inve...

5/3/2016 - OtterBox distribution building trades in $16.55 million deal

Colorado Real Estate Journal

OtterBox's 200,420-square-foot national distribution headquarters in Frederick sold in a $16.55 million investment deal that produced "enormous" activity. Pacific Acquisitions LLC paid $82.58 per sf for the building at 4185 Salazar Way. Founders Properties LLC was the seller. OtterBox just signed a long-term, triple-net lease for the building, which it had occupied on a sublease since 2012. CB...

3/21/2016 - People on the Move: Kim Hofstede

Minneapolis/St. Paul Business Journal

New Hire, Commercial Real Estate Kim Hofstede, Vice President at Founders Properties EDUCATION: University of Wisconsin Founders Properties hired Kim Hofstede as vice president.

3/9/2016 - Germantown manufacturer sells building for $4.2 million

BizTimes.com

Minneapolis-based firm purchases property The Germantown building that houses the headquarters of Satisloh North America Inc., located at N106 W13131 Bradley Way, was sold by the company recently to a Minneapolis real estate investment firm for $4.25 million. According to Satisloh's website, the company manufactures ophthalmic and precision optics. Company representatives did not return phone ...

1/8/2016 - Negotiations underway to lease newly-built warehouses in Butler County

Journal-News

Construction was finished in the fall on new speculative industrial buildings at Port Union Commerce Park near the intersection of Ohio 747 and Port Union Road, according to the developer and builder The Opus Group. The 100-acre business park consisting now of four total warehouse buildings is partly located in West Chester Twp. and partly in Fairfield. Two previously existing buildings on sit...

1/5/2016 - This Week’s Dallas-Fort Worth Deal Sheet

Dallas-Fort Worth Bisnow

LEASES Adeptus Health renewed its 80k SF lease at 2941 South Lake Vista Dr in Lewisville. JLL's Steve Thelen, Doug Carignan, Greg Baxendale and Melissa John negotiated the renewal with Founders Properties' Jim Montalbano. Weaver will move its Dallas office to approximately 58k SF on two floors in The Union Dallas, RED Development's mixed-use project at Field Street and Cedar Springs Road in Up...

2015 Articles

11/10/2015 - Founders Properties, LLC Completes Five Strategic Transactions in Office and Industrial Sectors

Business Wire

MINNEAPOLIS--(BUSINESS WIRE)--Founders Properties, L.L.C. recently completed five transactions totaling more than 1.3 million square feet of office and industrial space in Ohio, Georgia and Colorado. To date in 2015, Founders Properties has completed 18 transactions totaling more than $310 million and 3.5 million square feet of office and industrial space. “We...

10/14/2015 - Rickenbacker 8

GlobeSt.com

Hillwood Investment Properties, a Perot company, has just acquired Rickenbacker 8, a new 484,216 square foot class A industrial warehouse developed by the Opus Group at the Opus Business Center in suburban Groveport. Opus and Founders Properties were the sellers. The purchase was the latest move by the Dallas-based Hillwood that bolsters its presence in the expanding Midwest industrial market,...

8/5/2015 - Eastpoint buildings

Crain’s Cleveland Business

Piedmont Office Realty Trust (NYSE: PDM) of Atlanta, a publicly traded real estate investment trust, has exited the Northeast Ohio office market by selling the Eastpoint I and II office buildings in Mayfield Heights for $18.5 million.The new owner is an affiliate of Founders Properties LLC, a Minnetonka, Minn.-based real estate investment company. The firm is operated by Gerald Rauenhorst, the ...

7/23/2015 - South Point Business Center

Real Estate Bisnow: Charlotte

Investors nationwide have taken an interest in Charlotte, Founders Properties president Wade Lau tells us. The Minneapolis-based Wade ought to know; his company, on behalf of Founders Income Fund III, just acquired the 123k SF South Point Business Center.Charlotte's a strong location for investment due to several factors, including steady job growth and low industrial vacancy rates with high ab...

7/7/2015 - Plymouth Point

GlobeSt.com

*Coverage also appeared in the GlobeSt Chicago AM Alert e-newsletter on July 7, 2015The Opus Group has been one of the most active industrial developers In the Twin Cities region, and has just launched yet another spec building. The 96,000 square-foot office and warehouse facility in suburban Plymouth is smaller than many of Opus' other projects, but it is meant to satisfy a specific demand."Th...

6/5/2015 - The Opus Group Developing Spec Industrial Property in Indianapolis

REBusinessOnline

The Opus Group is developing a speculative industrial property at 3901 Hanna Circle at the Airport Business Center in Indianapolis. The industrial office and warehouse facility will feature 433,000 square feet of space. Situated on 26.2 acres, the property will feature 32-foot clear heights, 40 loading docks with four drive-in doors, ESFR sprinkler systems, T-5 fluorescent lighting and parking ...

6/1/2015 - Opus Group to build 182,000-square-foot spec industrial facility in Iowa

RE Journals

The Opus Group will build the Gateway Industrial Center, a 182,000-square-foot speculative industrial office and warehouse facility in Grimes, Iowa. "We're excited to begin work on our second speculative industrial project in Iowa this year," said Jason Conway, director of real estate development for Opus Development Company. "This project is a welcome addition to the state as demand for indu...

5/8/2015 - Spec Industrial Development Comes to Iowa

GlobeSt

*Coverage also appeared in the GlobeSt National AM Alert e-newsletter and the GlobeSt Chicago AM Alert e-newsletter on May 8, 2015. Additionally, coverage was featured as a national headline on the GlobeSt homepage on May 8, 2015. Industrial development took off several years ago in many markets across the US, and has now started to spread to secondary ones that have seen little construction s...

4/26/2015 - Minneapolis Real Estate Pros Play Hockey For Charity

Fox Weekly

Real estate industry professionals from Minnesota assemble a hockey game each year — to help raise money for charity. On Wednesday, the team of real estate pros had raised more than $10,000 for a local charity called "Camp Fire Minnesota". "The 16th annual Opus Cup featured two teams coached by Founders Properties CEO Wade Lau, whose team wore St. Paul Vulcans jerseys, and Excelsior Group's Ji...

4/10/2015 - Founders Properties closes $80M fund, continues national buying spree

Minneapolis/St. Paul Business Journal

*Coverage also appeared in the Minneapolis/St. Paul Business Journal Morning Edition e-newsletter on April 10, 2015. A private real estate investment fund started in 2010 by founders of The Opus Group and Best Buy Co. Inc. continues to thrive, having just closed its third, and largest, fund. Founders Properties investment group was created about five years ago by Richard Schulze, founder and f...

3/31/2015 - Cushman & Wakefield | Thalhimer Completes Sale of 123KSF Industrial HQ

Commercial Property Executive

Cushman & Wakefield | Talhimer has announced completing the sale of South Point Business Center, a 123,200-square-foot single-tenant industrial headquarters facility in Charlotte's Southwest submarket. Buyer Founders Properties paid $9.25 million for the industrial warehouse and light manufacturing complex located on South Ridge Drive. The state-of-the-art facility serves as a mission-critical...

3/4/2015 - The Opus Group to develop 145,000-square-foot spec warehouse property in Minneapolis market

RE Journals

The Opus Group will develop a 145,800-square-foot speculative industrial office and warehouse facility in Brooklyn Park, Minn. Located at the intersection of 85th Avenue and Wyoming Avenue North, the new building will be available for either single or multi-tenant occupancy. Construction will begin in May of this year, with completion planned for the fall of 2015. The building will be owned by...

3/4/2015 - Opus Launches Another Twin Cities Spec

GlobeSt.com

The Twin Cities metro area has one of the healthiest economies in the US, but even here the northwest suburbs have stood out as especially desirable for industrial users. The Opus Group has responded by launching the development of a 145,800-square-foot speculative industrial office and warehouse facility in suburban Brooklyn Park, its second recent spec development in the region. The metro ar...

3/3/2015 - Opus plots spec industrial project in Brooklyn Park

Minneapolis/St. Paul Business Journal

The Opus Group is jumping into the competitive market for industrial space in the northwestern Twin Cities suburbs. Minnetonka-based Opus announced Tuesday that it will build a 145,800-square-foot speculative industrial office and warehouse facility in Brooklyn Park at the corner of Wyoming Avenue North and 85th Avenue. "This is an exciting opportunity to respond to a specific demand in the Tw...

1/23/2015 - Speculative Development Returns to Industrial Sector, Supported by Strong Demand

National Real Estate Investor

For the national industrial market, 2014 brought with it the welcome return of speculative development. Going forward, experts say continued demand, and the lowest vacancy rate since the turn of the century, at 7.2 percent, will keep construction cranes busy.According to a 2015 forecast from commercial real estate services firm Avison Young, many U.S. cities are reporting a significant amount o...

1/15/2015 - Cincy Developers Beginning to Meet Demand

GlobeSt.com

Construction of new industrial properties has begun again in the Cincinnati region and Douglas J. Swain of Opus Development Co. tells GlobeSt.com that the area is ready for it. "The market has been extremely tight down there and we've seen very little development until now." As reported in GlobeSt.com, Opus has just started two speculative industrial buildings at Port Union Commerce Park in su...

1/14/2015 - Founders Properties Expands in Cincinnati

Commercial Property Executive

The Opus Group is developing two speculative industrial buildings totaling 800,000 square feet at Port Union Commerce Park in Cincinnati, on behalf of its owner, Founders Properties, L.L.C.Founders Properties had acquired two existing buildings and 46 acres at the site, and the two new buildings will be to the south of those presently standing. For the project, Opus Development Co., L.L.C. is ...

1/14/2015 - Opus Starts Construction of Two Specs

GlobeSt.com

The Opus Group has just started construction on two speculative industrial buildings at Port Union Commerce Park in Cincinnati's metro area. Founders Properties, LLC will own the buildings, which will sit on 46 acres and total more than 800,000-square-feet of space. The Minneapolis-based Founders recently bought the land, along with two other industrial buildings at the park in suburban Fairfie...

1/14/2015 - New industrial buildings coming to Port Union Business Park

Journal-News

Construction has started on two speculative industrial buildings at a business park near the intersection of Ohio 747 and Port Union Road, according to the construction contractor and property owner.The return of speculative construction, where the owner has yet to sign leases with a business occupant, is seen by experts as a sign of a resurgent economy because of the risk to fill the space.Af...

1/13/2015 - Port Union park getting 2 new industrial buildings

Cincinnati Enquirer

The tight market for industrial real estate has spurred Minneapolis-based real estate companies to develop two new large industrial buildings at the West Chester Township and Fairfield border. The Opus Group said Tuesday it has started construction on two industrial buildings for as-of-yet unsecured tenants at the Port Union Commerce Park. The buildings will total more than 800,000 square feet ...

2014 Articles

12/31/2014 - EXCLUSIVE: Opus Group building 2 huge spec warehouse

Cincinnati Business Courier

Opus Group is getting ready to build not one, but two huge industrial buildings in West Chester and Fairfield.Opus Group, a Minneapolis-headquartered family of commercial real estate development, construction and design companies, will develop and build a 260,000-square-foot industrial building and a nearly 548,000-square-foot industrial building at Port Union Commerce Park.Andy Finn, vice pres...

11/24/2014 - EXCLUSIVE: Out-of-town investor pays $22M for insurer's local office

Cincinnati Business Courier

A Los Angeles-based real estate investment company purchased a Deerfield Township office building for more than $22 million.An affiliate of Griffin Capital Corp. purchased the 213,000-square-foot building from an affiliate of Anthem Blue Cross and Blue Shield for $22.5 million, or about $105 per square foot. Anthem is the only tenant in the building, located at 4361 Irwin Simpson Road.It made s...

11/18/2014 - Opus sells its interest in Nic on Fifth ownership

Finance & Commerce

The Minnetonka-based Opus Group has sold its interest in the entity that controls the 253-unit Nic on Fifth apartment tower in downtown Minneapolis, Opus confirmed Tuesday.Opus has sold its stake in Nicollet Residences LLC, the Minnetonka-based company with the same address as both Opus and Founders Properties, Opus Development Co. President Dave Menke confirmed in a written statement.Terms of ...

9/26/2014 - Rauenhorst/Schulze fund starts on third fund

Minneapolis/St. Paul Business Journal

Founders Properties has started raising money for its third fund.Minnetonka-based Founders, which has close ties to developer The Opus Group, started raising $80 million for its next fund this month, according to a filing with the Securities and Exchange Commission.The fund will target stable industrial and office properties that carry leases with tenants lasting five to 10 years, said Wade Lau...

9/22/2014 - Investor buys West Chester, Fairfield properties for $42 million

Cincinnati Business Courier

DCT Industrial Trust Inc. sold two large industrial buildings and about 46 acres of land to an out-of-town privately held company for more than $42 million.Founders Properties LLC, a Minneapolis-based company that provides acquisition, financing, asset management and investment services for high-net-worth investors, purchased 4300 Port Union Road and 4260 Port Union Road through its Founders In...

5/23/2014 - UnitedHealth Buys Minnetonka HQ Building for $53M

Minneapolis St. Paul Business Journal

UnitedHealth Group Inc. acquired its Minnetonka headquarters building for $53 million. United HealthCare Services Inc. bought the building, at 9900 Bren Road, from 9900 Bren Road LLC, an entity managed by Minnetonka-based Founders Properties, according to a certificate of real estate value filed with Hennepin County. The deal also included a parking structure and 20 acres. Founders Propertie...

4/29/2014 - Cocktail Confessions – Volume 9 Featuring Wade Lau

NAIOP Pulse

Welcome to the next installment of Cocktail Confessions where we track down industry movers and shakers, sometimes bribe them with cocktails and get their take on the topics of the day. In this installment, we are pleased to feature Wade Lau from Founders Properties. Wade Lau President & CEO Founders Properties As our industry has picked up from a dismal few years, is there one lesson that yo...

3/21/2014 - Rockwell Sale Makes For Triple-Net Hat Trick

Milwaukee Business Journal

The March 13 sale of Rockwell Automation’s Mequon building marks the third Milwaukee-area purchase of a leased building this month by a Minnesota-based Founders Properties LLC investment fund. Founders earlier this month bought an Oak Creek building leased to Independence Corrugated LLC, and a Glendale building is leased to Forrer Business Interiors. The three deals total about a $45 million ...

3/19/2014 - Firm Owned by Founders of Best Buy and Opus Group Buys Up Milwaukee Real Estate

Minneapolis St. Paul Business Journal

A real estate investment fund created by Minnetonka-based Founders Properties LLC bought three Milwaukee-area buildings, according to state records. Founders Properties is owned by Best BuyCo. Inc. founder Richard Schulze and Opus Group founder Gerald Rauenhorst, who no longer has financial ties to Minnetonka-based Opus. Founders Properties paid $32.37 million for a 560,000-square-foot build...

3/18/2014 - Mequon Building Leased To Rockwell Automation Sold For $32.4 Million

Milwaukee Business Journal

A Mequon building leased to Rockwell Automation sold for $32.37 million to a real estate investment fund created by Minnesota-based Founders Properties LLC, according to state records. The 560,000-square-foot Mequon building is at 6400 Enterprise Drive. It is the third the Founders Properties investment fund bought in the Milwaukee area this month. Earlier in March, it paid a combined $12.7 mi...