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Kenwood Village, located in the Duluth Heights/Kenwood neighborhood of Duluth, MN, is a Class A apartment building with 14,000 square feet of first floor retail. The property received its certificate of occupancy in February 2017 and leased up with a high degree of interest from university employees, graduate students and people who recently sold their nearby homes in the Kenwood neighborhood. The strong performance of Kenwood Village can be attributed to its close proximity to the University of Minnesota - Duluth and the College of St Scholastica, superior amenities, access to public transit, nearby shopping and spectacular views.

The retail portion offers long-term leases by Amazon Proof retailers. Three of the four current tenants have signed 10-year leases including Caribou Coffee/Einstein Bagels, Crooked Pint, and Duluth Teachers Credit Union, making up 73% of the retail space. Runa Yoga and Experimac complete the list of current tenants and there is value-add potential in leasing up the remaining 1,082 square feet of vacant space. Other key retailers in this area include SuperOne Foods, Papa Murphys, Arby’s, UPS, Cost Cutters, Erbert’s & Gerbert’s and Walgreens.
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Under Contract
Kenwood Village
83 Units
1515 Kenwood Ave
Duluth, MN  55811
Type: Conventional
Cushman & Wakefield is pleased to present for sale, Lofts on 4th Apartments. Lofts on 4th, located in the historic Lowertown Neighborhood of St. Paul, offers highly desirable loft-style apartments steps away from Union Depot, St. Paul Farmers Market, CHS Field, Mears Park, St. Paul CBD and a wide variety of landmark restaurants and nightlife.

Lowertown is St. Paul’s highest profile urban neighborhood and its multifamily properties consistently perform at 98% occupancy or better. Additionally, the current average rent for the downtown St. Paul submarket is up 5.2% year-over-year bringing that figure to a new high of $1,535/month. This “Lofts on 4th” offering presents investors the rare opportunity to acquire an irreplaceable Lowertown asset with tremendous upside potential through in-unit and common area renovations.

Lofts on 4th features 24 loft-style apartments with 14’-20’ ceilings, exposed brick and large windows in select units. The property also includes 4 basement art studios and 2 street level retail tenants (Lowertown Wine & Spirits and Master Framers). The property is offered free and clear of existing financing.
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Under Contract
Lofts on 4th
24 Units
262 4th Street E
St. Paul, MN  55101
Type: Conventional
Cushman & Wakefield is pleased to present for sale, Sommerset Place Apartments, a 36-unit value-add opportunity in a tranquil pocket of Brooklyn Center, just off Highway 100 and next to Centerbrook Golf Course.

The property is located in a quiet residential neighborhood on the South side of Lions Park and steps from Shingle Creek and the Shingle Creek Regional Trail. Sommerset Place is also conveniently located minutes from Target, Walmart Super Center, Cub Foods, CVS Pharmacy, LA Fitness and numerous national and local restaurants. The property is just 10 minutes north of downtown Minneapolis and five minutes from both Brooklyn Center High School and Middle School.

Sommerset Place is a true value-add opportunity with legitimate immediate upside. The unit-mix is predominantly 2-Bedroom units and the average in-place rent is roughly $885/Month. Comparable properties in the submarket are renting 2-Bedroom units for $1,100/Month (see rent comps on Page 37 of OM), which is achievable at Sommerset Place by implementing a light in-unit renovation plan. The current vacancy rate in the city of Brooklyn Center is just 2.0% and the area is in high demand given its close proximity to downtown Minneapolis and other local attractions.

Sommerset Place is offered free and clear of existing financing and tours will begin the week of September 5th, 2018. Please contact Robert Dulin directly to set up a tour, which will be scheduled by appointment only.
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Under Contract
Sommerset Place
36 Units
5301 Russell Ave N
Brooklyn Center, MN  55430
Type: Conventional
Cushman & Wakefield is pleased to present for sale, The Hive student housing community, a 40-unit/120-bedroom/168-bed, best-in-class asset located in the heart of LaCrosse, Wisconsin, in walking distance of three major colleges and universities.

Completed in 2014, The Hive was built with state-of-the-art construction and offers spacious, flexible layouts completed with stylish and modern interiors including high-end finishes with stainless steel appliances, double vanities with cultured marble tops, in-suite washer and dryer, and premium wood vinyl plank flooring. The best-in-class amenities at the property are unmatched and offer residents an entertainment deck and premier fitness center, providing residents with a social atmosphere as well as comprehensive security, surveillance, and fire safety.

Centrally located in the heart of LaCrosse’s campus neighborhood, at the corner of 10th & State, The Hive’s prime position gives residents easy access to everything. The University of Wisconsin – LaCrosse, Western Technical, and Viterbo University are all within an easy 5 – 10-minute walk or bike ride from the property. Combined, the schools enroll over 20,000 students. The property is also within close proximity to Historic Downtown LaCrosse, with its shops, restaurants, and nightlife. The Hive is truly a walkable property with a high walk score of 86.

The Hive is a unique opportunity to acquire a newer construction, best-in-class student housing deal in a desirable community with few other privately owned, purpose-built student housing properties.
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Marketing
The Hive
40 Units | 168 Beds
901 State Street
LaCrosse, WI  54601
Type: Student