NorthMarq hired to sell three Minneapolis Public School buildings
MINNEAPOLIS, Minn. (November 3, 2008) – NorthMarq has been hired by
Minneapolis Public Schools to list for sale three school buildings. The
NorthMarq brokerage team of Paul Donovan, Pete Rand and Kevin Peck is
accepting bids individually or collectively for the buildings, with
offers due Dec. 15, 2008.
The properties listed for sale are Northrop Elementary School in the
Field Regina Northrop neighborhood in South Minneapolis, Holland
Elementary School in the Sheridan neighborhood in Northeast Minneapolis
and Howe Elementary School in the Longfellow neighborhood in South
Minneapolis. (For facility locations, statistics and amenities, see
below.) This is a second listing for Holland Elementary School.
“These three properties are on large pieces of land that can support a
variety of uses,” said Kevin Peck, real estate advisor – brokerage
services. “The exciting possibilities for redevelopment reflect these
neighborhoods’ vitality and potential for growth.”
NorthMarq is also representing Minneapolis Public Schools in the sale of
three other school buildings – Franklin Middle School, Putnam Elementary
School and Morris Park Elementary School.
Before putting all six schools on the market, Minneapolis Public Schools
worked with Urban Design Lab to conduct a strategic analysis of these
and six other closed school properties and developed recommendations for
their future with input from community representatives, organizational
representatives, elected representatives and experts in the real estate,
community development and related professions.
“We commend Minneapolis Public Schools for giving community members a
voice in the process,” said Paul Donovan, vice president – brokerage
services.
“The district is excited about developing these properties into
community assets,” added Steve Liss, chief of planning and operations
for Minneapolis Public Schools. “We think the addition of senior housing
and artists’ space in these neighborhoods, for example, can benefit the
entire community, and we’re eager to see how these ideas will flourish.”
Holland School, 1534 NE 6th St.
- Two-story, 51,184-square-foot building
situated on 2.9 acres of land
- Amenities include two gymnasiums,
theater/auditorium, cafeteria and kitchen
- Facility could be repurposed as a green,
high-tech or educational business center
Howe School, 3733 43rd Ave. S.
- Two-story, 36,161-square-foot building
located on 3.2 acres of land
- Amenities include a gymnasium, cafeteria,
heat-and-serve kitchen and media center
- Property is ideal for redevelopment as an
artists’ work/living space, senior or
high-density housing or single-family homes
Northrop School, 1611 46th St. E.
- Two-story, 33,698-square-foot building on 3.6
acres of land
- Amenities include a gymnasium, media center and
heat-and-serve kitchen
- Property can be redeveloped as senior housing
About NorthMarq
NorthMarq offers a full range of commercial real estate
solutions across the country from its headquarters in Minneapolis, Minn.
The NorthMarq Capital group offers commercial real estate investment
banking, investment sales, real estate debt and equity financing, and
commercial loan servicing in 29 offices coast-to-coast, with more than
more than $13 billion in annual production volume and services a loan
portfolio of more than $36 billion. NorthMarq Real Estate Services
provides brokerage, property management and healthcare real estate
services to investors and space users, and through its Corporate
Solutions division, provides mid-sized corporate users real estate
services nationwide. For more information, please visit
www.northmarq.com.
Contact:
Martha Nevanen
952.893.7539
martha.nevanen@marquetteRE.com
Jill Lewis
Maccabee Group
612.337.0087