Welcome!

News Feed Item

Laurus Corporation Acquires Woodlake Centre in Minneapolis, MN

-- Acquisition marks first for Laurus in Minneapolis market --

MINNEAPOLIS, Feb. 13, 2014 /PRNewswire/ -- Laurus Corporation, a U.S.-based private real estate investment and development firm, has announced its first acquisition in the Minneapolis area with the acquisition of Woodlake Centre. The 190,000 square foot complex is a high profile destination for medical and professional services in Richfield, one of the metro area's key inner-ring suburbs.  The building offers premium amenities including conference facilities, skylit atrium, heated and structured parking, bank branch and full-service restaurant and bar. 

Laurus Corporation Acquires Woodlake Centre in Minneapolis, MN

Conveniently located close to interchanges for I-494, I-35 and the Twin Cities Crosstown Highway, Woodlake is an ideal location for health service professionals and supporting industries.  More than 1,000 new residential units are within walking distance of Woodlake Centre, with many of those complexes catering to active adult living and senior care. The complex's ground floor retail is anchored by Houlihan's, a popular neighborhood gathering spot serving lunch and dinner seven days a week.  The Southdale Centre and Galleria Edina malls are less than two miles from the property and feature over 180 stores and dining destinations.  Additionally, the 4.2 million square foot Mall of America and Minneapolis-St. Paul International airport are just ten minutes from Woodlake Centre.

"Laurus will implement a multi-million dollar upgrade plan to add new amenities to the building, including a cafe, concierge services and enhanced parking," said Jean Paul Szita, Co-founder and Chief Financial Officer of Laurus Corporation. "Our first acquisition in the Minneapolis market is a prime example of Laurus' ability to identify opportunistic assets in regional markets that display robust demand drivers and tremendous upside potential for our investors; and also create value for our tenant's customers."

With a population of 3.5 million, Minneapolis is the 16th largest metropolitan area in the U.S. It serves as headquarters to 19 Fortune 500 companies, including United Health, Medtronic, 3M, Target and General Mills. At just 4.3 percent, this market boasts the lowest unemployment rate in the U.S. among metropolitan areas with more than one million in population.

"Off-campus medical office vacancies in the Southwest submarket ended 2013 at 6.8 percent, and on-campus space at just a 3.4 percent vacancy rate," added Austin Khan, Chief Investment Officer of Laurus Corporation. "Given the lack of available high-quality space in the market, Woodlake Centre presents an incredible opportunity to continue to enhance the variety of medical and related specialties offered to the community in its centralized location."

Minneapolis has consistently ranked among Forbes top markets for business over several years. The combination of a highly-educated population and diverse, stable economy correlates with projections for the city to be among the fastest growing metro areas in the U.S. over the next 20 years.

Woodlake Centre is located at 6625 Lyndale Avenue South, Richfield, MN 55423.

Laurus Corporation is a real estate investment and development company that specializes in hotels and resorts, office buildings, multifamily and mixed-use properties. Laurus employs an entrepreneurial investment strategy designed to consistently achieve attractive risk-adjusted returns by creating capital appreciation opportunities through repositioning, restructuring, re-development and intensive post acquisition asset management.  It is affiliated with Ethika Investments, LLC, a real estate investment firm.

Laurus Corporation
1880 Century Park East, Suite 1016
Los Angeles, CA 90067
Phone: (310) 277-8600
Fax: (310) 362-0353
http://www.lauruscorporation.com

Laurus logo.

Multimedia Assets associated with this release:
Photo: http://photos.prnewswire.com/prnh/20140213/LA65117
Logo: http://photos.prnewswire.com/prnh/20061212/LAURUSLOGO

SOURCE Laurus Corporation

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
Is advanced scheduling in Kubernetes achievable? Yes, however, how do you properly accommodate every real-life scenario that a Kubernetes user might encounter? How do you leverage advanced scheduling techniques to shape and describe each scenario in easy-to-use rules and configurations? In his session at @DevOpsSummit at 21st Cloud Expo, Oleg Chunikhin, CTO at Kublr, will answer these questions and demonstrate techniques for implementing advanced scheduling. For example, using spot instances ...
SYS-CON Events announced today that Daiya Industry will exhibit at the Japanese Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ruby Development Inc. builds new services in short period of time and provides a continuous support of those services based on Ruby on Rails. For more information, please visit https://github.com/RubyDevInc.
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, will discuss some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he’ll go over some of the best practices for structured team migrat...
As businesses evolve, they need technology that is simple to help them succeed today and flexible enough to help them build for tomorrow. Chrome is fit for the workplace of the future — providing a secure, consistent user experience across a range of devices that can be used anywhere. In her session at 21st Cloud Expo, Vidya Nagarajan, a Senior Product Manager at Google, will take a look at various options as to how ChromeOS can be leveraged to interact with people on the devices, and formats th...
First generation hyperconverged solutions have taken the data center by storm, rapidly proliferating in pockets everywhere to provide further consolidation of floor space and workloads. These first generation solutions are not without challenges, however. In his session at 21st Cloud Expo, Wes Talbert, a Principal Architect and results-driven enterprise sales leader at NetApp, will discuss how the HCI solution of tomorrow will integrate with the public cloud to deliver a quality hybrid cloud e...
SYS-CON Events announced today that Yuasa System will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Yuasa System is introducing a multi-purpose endurance testing system for flexible displays, OLED devices, flexible substrates, flat cables, and films in smartphones, wearables, automobiles, and healthcare.
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant tha...
Organizations do not need a Big Data strategy; they need a business strategy that incorporates Big Data. Most organizations lack a road map for using Big Data to optimize key business processes, deliver a differentiated customer experience, or uncover new business opportunities. They do not understand what’s possible with respect to integrating Big Data into the business model.
The session is centered around the tracing of systems on cloud using technologies like ebpf. The goal is to talk about what this technology is all about and what purpose it serves. In his session at 21st Cloud Expo, Shashank Jain, Development Architect at SAP, will touch upon concepts of observability in the cloud and also some of the challenges we have. Generally most cloud-based monitoring tools capture details at a very granular level. To troubleshoot problems this might not be good enough.
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, will discuss how from store operations...
As people view cloud as a preferred option to build IT systems, the size of the cloud-based system is getting bigger and more complex. As the system gets bigger, more people need to collaborate from design to management. As more people collaborate to create a bigger system, the need for a systematic approach to automate the process is required. Just as in software, cloud now needs DevOps. In this session, the audience can see how people can solve this issue with a visual model. Visual models ha...
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, will discuss how they bu...