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...
AZRE, 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...
Staff writer, 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...
Cliff Barnes, 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...
staff writer, 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...
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...
