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. Full prices are available on the CRVs posted here.
With between 250 and 300 new homes being added to the city each year, Blaine is a popular place for families and the day care centers that serve them.
New Creations Child Care and Learning Center is a faith-based day care company two couples started in a church in Blaine in 2011. It soon will open its ninth location, and its second in its hometown.
New Creations has reached an agreement with Minnetonka-based construction company Amcon to redevelop a retail site as its newest center. Amcon has paid $1.1 million for a vacant 9,461-square-foot retail building, built in 1987 on 3.3 acres at 10301 Lexington Ave. NE. An Amcon entity, NC Lex LLC, closed March 28 on the acquisition from Omnibus Investments LLP, an entity related to a private investor in Winnetka, Illinois.
Originally a multitenant building, the Lexington Avenue center most recently was converted to a single-tenant building and leased to UFC Gym, which closed.
The price works out to $116.27 per square foot.
Wade Johnson, vice president of Amcon, said the construction company plans to invest about $650,000 in the buildout and deliver a finished project by July 1.
"They have a very nice facility that they put out to the public," Johnson said of the design.
Friends and neighbors Angi and Ryan Carlson and Tiffany and Peter Simon actually started offering child care in their homes even before starting New Creations in leased space in Abundant Life Church in Blaine in 2011. Over time they have opened centers in Andover, Brooklyn Park, Big Lake, Ramsey, Lino Lakes, St. Paul and Maple Grove.
"We've had our eye on the building for a couple of years," Ryan Carlson said Monday. The area around the Interstate 35W exchange at Lexington Avenue is developing rapidly and is a traffic hub for the area, he said. The Blaine building will use a format the company plans to use in future centers. It will serve 60 to 120 children and employ 20 to 30 workers.