News

Roxana Baiceanu, 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 ...

staff writer, 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...

Staff Writer, 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...

John Bush, 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...

Staff Writer, 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...

Tom Demeropolis, 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 “...

staff writer, 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...

Nick Halter, 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...

Patrick Kennedy, 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 ...

Nick Halter, 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...

Amy Sorter, 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...

Matt M. Johnson, 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...

Chick Sudo, 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.

Hank Long, 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...

Jill Jamieson-Nichols, 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...

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.

Corrinne Hess, 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 ...

Chelsey Levingston, 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...

Tonie Auer, 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...

Meagan Pick, 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...

Brian J. Rogal, 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,...

Stan Bullard, 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 ...

Dees Stribling, 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...

Brian J. Rogal, 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...

Amy Works, 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 ...

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...

Brian J. Rogal, 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...

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...

Sam Black, 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...

Eliza Theiss, 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...

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...

Brian J. Rogal, 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...

Sam Black, 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...

Robert Carr, 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...

Brian J. Rogal, 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...

Keith Loria, 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 ...

Brian J. Rogal, 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...

Chelsey Levingston, 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...

Bowdeya Tweh, 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 ...

Tom Demeropolis, 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...

Tom Demeropolis, 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...

Adam Voge, 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 ...

Sam Black, 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...

Tom Demeropolis, 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...

Sam Black, 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...

Jerry Anderson, 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...

Sean Ryan, 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 ...

Sean Ryan, 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...

Sean Ryan, 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...

Kansas City Star

CBRE announces the sale of 10551 South Ridgeview Road totaling 102,035 square feet and located in Olathe, Kansas to Griffin Capital Corporation for $19,100,000. The Farmers Insurance National Property Claims Facility is a Class A, two-story office building located in the Corporate Ridge Office Park in the Kansas City suburb of Olathe, and is 100% leased to Farmers Insurance Exchange (S&P Ratin...