The Rosewood Office Plaza at 1711 W. County Road B in Roseville consists of two Class B office buildings, both built in 1981, connected by a ground-level hall and entryway. (Photo: Catylist)

The Blueprint

Rosewood Office Plaza in Roseville is asking $5.8 million for its 63,432 square feet of office space.
The two-building Roseville property is about 86% leased and sits on five acres near Rosedale Mall and Highway 36.
McCormick Construction’s Greenfield property includes 17,000 square feet of office, warehouse and shop space.
The Greenfield site also offers 120,000 square feet of outdoor storage, making it suited to contractors and industrial users.

Functional commercial properties in Roseville and Greenfield feature in this week’s On the Market. They’re very different — the former is a mostly occupied suburban office building, while the latter is a multifunctional office, shop and storage space currently used by a construction company — but both harbor real potential for a new owner.

Rosewood Office Plaza

Rosewood Office Plaza sits on five acres of prime commercial real estate along the Highway 36 corridor just south of Rosedale Center, between Snelling and Fairview Avenues. With easy access to downtown Minneapolis and the north and east metro via Highway 36 and nearby Interstate 35W, it enjoys an “outstanding strategic location [with] convenient access to the Twin Cities region’s major business centers,” Wellington Management’s Eugene Vazemiller and Todd Kaufman say in the listing.

About 86% of Rosewood Office Plaza’s 60,000-odd square feet is leased to a mix of tenants, offering a new investor-owner stabilized, income-producing foothold in a still-challenged Twin Cities market for Class B office space. The property consists of two buildings, both built in 1981, connected by a ground-level hall and entryway.

“[It’s] a compelling opportunity to acquire an attractive, well-maintained office asset at pricing considerably below its replacement cost with the ability to enhance returns through continued market strengthening, additional leasing and value-add development within a growing and impressively stable regional economy,” Vazemiller and Kaufman say.

The property’s leasing brochure details a bevy of common-area features, including more than 300 stalls of free surface parking, shared lunch and conference rooms, and ample natural light. Recent building upgrades include new carpeting, ceilings and lighting in these common areas.

There’s also an opportunity for new monument signage outside with visibility to County Road B and Herschel Street, its four-lane cross street. The parking lot has entrances on both streets.

Address: 1711 W. County Road B, Roseville

Type: Office

Square Footage: 63,432 square feet

Asking Price: $5.8 million

Owner: Rosewood Office Plaza, LLC (Woodbury)

Listing Broker: Todd Kaufman (investment) & Eugene Vazemiller (leasing), Wellington Management

The 17,000-square-foot building at 7900 69th Avenue N. in Greenfield is home to McCormick Construction Company. (Photo: Catylist)

McCormick Construction Company

Built in 2005, this single-occupant property spans about 17,000 square feet of interior office, warehouse and shop area plus 120,000 square feet of outdoor storage space. It’s located in Greenfield, a far northwestern Hennepin County city close to the larger Wright County cities of Rockford and Buffalo.

In short, it “offers a highly functional layout for contractor, service, fleet, or industrial users” seeking access to the far west metro market, according to the listing from Hoyt Properties.

The building itself has 21-foot clear heights in the 10,000-square-foot warehouse/shop section, with vehicle and loading access via two oversized drive-in doors and a loading dock door. Notable features in the warehouse/shop include a trench drain, air makeup system and oil/water separator. The office side has about 7,000 square feet of usable space with a mix of separated offices and common areas.

Both inside and outside appear flexible. Aerial photos show the gated outdoor storage area being used to stage vehicles, heavy equipment and trailers; a 25-stall parking lot fronts the building on the other side. And there’s room onsite to expand that parking area should a future owner require more.

Address: 7900 69th Ave. N., Greenfield

Type: Light industrial/office

Square Footage: 17,000 square feet

Asking Price: Not disclosed

Seller: JDM Properties & Invest, LLC (Greenfield)

Listing Broker: Steve Nelson, Ches Masserano & Mack Damerow, Hoyt Properties

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On the Market: Roseville, Greenfield commercial properties