NorthMarq Hired to Sell Four Minneapolis Public School Buildings
MINNEAPOLIS, Minn. (August 6, 2008) – NorthMarq has been hired by Minneapolis
Public Schools to list for sale four 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 Sept. 8, 2008.
The properties listed for sale are Franklin Middle School, Holland Elementary
School, Putnam Elementary School and Morris Park Elementary School. (For
facility locations, statistics and amenities, see below.)
The buildings offer unique opportunities for future users. “The supply of school
properties for sale is minimal, especially in the urban core,” said Paul
Donovan, vice president - brokerage services. “Properties with traditional
school amenities and green space are in high demand for educators, particularly
charter schools. The properties could also be re-used for a variety of other
purposes, including residential, commercial, medical or religious uses.”
“The sale of the buildings is consistent with the facilities reuse plan that has
been in place for the last 12 months, with input from the community and all
stakeholders,” said Steve Liss, Chief of Planning and Operations.
“As a previous Franklin Middle School parent, I wish the school was still open
but I understand why the district needed to close it. I think selling the
building is the best for all those involved - tax payer dollars are not being
wasted on empty buildings and our tax dollars can be spent helping to educate
students,” said Bertha Baker, Franklin School neighbor and Minneapolis School
District parent.
Holland School, 1534 NE 6th Street
• Two-story, 51,184-square-foot building
• Amenities include two gymnasiums, theater/auditorium, cafeteria, kitchen and
elevator
Franklin School, 1501 Aldrich Avenue N
• Two-story, 125,794-square-foot building
• Amenities include two gymnasiums, theater/auditorium, cafeteria, full
commercial kitchen, elevator, indoor pools, and boys and girls locker rooms and
showers
Putnam School, 1616 Buchanan Street NE
• Two-story, 45,280-square-foot building
• Amenities include two gymnasiums, theater/auditorium, cafeteria, kitchen and
elevator
Morris Park School, 3810 56th Street E
• Two-story, 39,705-square-foot building with basement
• Amenities include gymnasium, cafeteria, kitchen and elevator
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
Gwen Chynoweth
612 337 0087