NorthMarq Reissues RFP for Howe School in Minneapolis

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Nov 01, 2010, 09:00 ET

MINNEAPOLIS, Nov. 1, 2010 /PRNewswire/ --The Advisory Services Group, a team of three NorthMarq advisors led by Paul Donovan, announces that it has reissued a request for proposal for the Howe School building in Minneapolis. Offers are due by Nov. 30, 2010.

Located in South Minneapolis at 3733 43rd Ave S., the former school building totals 36,161 sq. ft. and is situated on 3.2 acres of land. Amenities of the two-story building include a gym with an auditorium, a cafeteria with a heat-and-serve kitchen, a full sprinkler system and an elevator.

"The sale of the Howe School building is an opportunity to purchase more than 3 acres of in-demand real estate in South Minneapolis," said Donovan. "Possible uses for the property include artist living and work space, senior living, single-family detached housing, high-density housing and other appropriate neighborhood uses."

The Advisory Services Group also includes real estate advisors Kevin Peck and Jaclyn May. The team has been working with Minneapolis Public Schools since 2008 to lease or sell school buildings no longer in use. Of the eight schools marketed by NorthMarq, three have been sold, two have been leased and one is under contract for sale.

Howe School was closed in 2005. A previous purchase agreement for the school was terminated in July of this year.

About NorthMarq

NorthMarq offers commercial real estate services, including brokerage, property management, corporate solutions, investment sales and debt/equity services, to investors and occupiers of commercial real estate from its headquarters in Minneapolis, Minn. The company manages more than 60 million sq. ft. of retail, industrial and office assets in 22 markets around the country and handles more than 7,500 transactions annually. It also provides real estate debt and equity financing, and commercial loan servicing in 32 offices coast-to-coast, with an average of $10 billion in annual production volume and services a loan portfolio of nearly $39 billion. For more information, please visit www.northmarq.com.

SOURCE NorthMarq