Byline: Anne Bretts
Editor's note: "Just Sold" is a Finance & Commerce feature based on certificates of real estate value recently filed for commercial transactions and significant residential transactions in Twin Cities counties. Additional details in the transactions come from Plat Research, the Minnesota Secretary of State's Office, company documents, online real estate listings, F&C archives, CoStar and other research. Some purchase prices and per-unit calculations have been rounded.
Last year Dr. Sean Ewen helped his younger brother James openWooden Hill Brewing Company,the first craft brewery in Edina.
On Oct. 11 Sean Ewen paid $1.555 million for a classic 15,000-square-foot storefront, built in 1930 at 2375 University Ave. W. in St. Paul. The brick building, with its massive front windows, is on the north side of University Avenue, close to the University of Minnesota and the Green Line
This isn't a second brewery, however.
Ewen's passion is emergency medicine. He became an emergency medical technician while in medical school. In 2011, his second year of school, he started Allied Medical Training. He uses online, in-person and webinar options to improve training for first responders and EMTs and make it available to rural professionals. The training center is located at 2300 Myrtle Ave., just a few blocks from the new location.
"It's not much bigger, but the layout is better," Ewen said of the vacant 3,000-square-space he plans to use in the new location's second floor, along with a vacant garage space. He plans to keep the half-dozen small businesses now leasing space in the building.
Ewen bought the property through an entity named 2375 University LLC. Rafik Moore and Patrick Corbett of the Edina-based Caspian Group represented him in the acquisition. Royal Credit Union in Edina provided financing. He has hired Minneapolis-based Blue Construction, Inc. to do the renovations, with plans to move by the end of the year.
Joseph D. Owen, vice president of advisory and brokerage services for the Minnetonka office of Colliers International, represented the seller, Executive Title of Minneapolis, which was representing 2375 University Company LLC. The seller was related to Broad Daylight, a media design company and a tenant in the building.
The seller bought it in 1998 for $725,000.
"There were four partners," Owen said. "They'd owned it for more than 20 years and it was just time to move on."
Purchase price: $1.555 million, with...