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
A look across the tech landscape at the disruptive technologies that are increasing in prominence and speculate as to which will be most impactful for communications – namely, AI and Cloud Computing. In his session at 20th Cloud Expo, Curtis Peterson, VP of Operations at RingCentral, highlighted the current challenges of these transformative technologies and shared strategies for preparing your organization for these changes. This “view from the top” outlined the latest trends and developments i...
Cloud applications are seeing a deluge of requests to support the exploding advanced analytics market. “Open analytics” is the emerging strategy to deliver that data through an open data access layer, in the cloud, to be directly consumed by external analytics tools and popular programming languages. An increasing number of data engineers and data scientists use a variety of platforms and advanced analytics languages such as SAS, R, Python and Java, as well as frameworks such as Hadoop and Spark...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, paneli...
@DevOpsSummit at Cloud Expo taking place Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center, Santa Clara, CA, is co-located with the 21st International 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 ...
"We are a monitoring company. We work with Salesforce, BBC, and quite a few other big logos. We basically provide monitoring for them, structure for their cloud services and we fit into the DevOps world" explained David Gildeh, Co-founder and CEO of Outlyer, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing bes...
Join us at Cloud Expo June 6-8 to find out how to securely connect your cloud app to any cloud or on-premises data source – without complex firewall changes. More users are demanding access to on-premises data from their cloud applications. It’s no longer a “nice-to-have” but an important differentiator that drives competitive advantages. It’s the new “must have” in the hybrid era. Users want capabilities that give them a unified view of the data to get closer to customers and grow business. The...
Artificial intelligence, machine learning, neural networks. We’re in the midst of a wave of excitement around AI such as hasn’t been seen for a few decades. But those previous periods of inflated expectations led to troughs of disappointment. Will this time be different? Most likely. Applications of AI such as predictive analytics are already decreasing costs and improving reliability of industrial machinery. Furthermore, the funding and research going into AI now comes from a wide range of com...
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
"When we talk about cloud without compromise what we're talking about is that when people think about 'I need the flexibility of the cloud' - it's the ability to create applications and run them in a cloud environment that's far more flexible,” explained Matthew Finnie, CTO of Interoute, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Internet of @ThingsExpo, 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 Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex software systems for startups and enterprises. Since 2009 it has grown from a small group of passionate engineers and business...
SYS-CON Events announced today that GrapeUp, the leading provider of rapid product development at the speed of business, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market acr...