VOLUME 31, NUMBER 05
Š2015 Law Bulletin Publishing Co.
May 2015
Oppidan bringing grocery-anchored retail to Twin Cities’ lakeside community By Dan Rafter, Editor
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xcelsior had long been known mostly as a resort town, one that attracted tourists from the Twin Cities -- just about 12 miles away -- and beyond during the summer months but was quiet when the temperatures rose. And why not? This Minnesota city sits on the shores of Lake Minnetonka. And its population in 2010 was a smallish 2,188. That would seem to be the definition of a resort town. But Joe Ryan, president of national property development firm Oppidan Investment Company, says that this is changing. Today, Excelsior is becoming
a 12-month destination, he said. One that attracts visitors all year long to its shops, recreational activities and restaurants. That's why Oppidan has invested so much into its Excelsior Marketplace development. This development -- which was just about completed by press time -- is a retail and office project that sits on the former site of Mason Motors, Inc., at the busy intersection of Water and George streets in downtown Excelsior. "Excelsior has changed over the years. It's become a real destination in the Twin Cities area," Ryan said. "The city officials have done a nice job keeping the historic nature of the community while expanding its amenities. You are Oppidan to page 21
Cushman & Wakefield, DTZ creating another mega-firm By Dan Rafter, Editor
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rett White just became an even bigger name in the commercial real estate industry across the Midwest and the country. White is the new chairman and chief executive officer of the newly created mega-firm that will result from the merger between Cushman & Wakefield and DTZ. The parent company of DTZ, TPG Capital,
announced yesterday that it has reached an agreement to pay $2 billion to buy Cushman & Wakefield from Exor SpA, that company's majority owner. The new company will operate under the Cushman & Wakefield name. It will also boast more than 43,000 employees across the globe and annual revenues of $5.5 billion. It will manage a portfolio of more than 4 billion square feet. White, in a prepared statement, said that the merger creates a real estate firm that will have unprecedented reach.
"The companies have remarkable complementary skills and reach in different geographies," White said in his statement. "Whether in New York, London or Shanghai, this will be a formidable combination." White, of course, is no newcomer to the commercial real estate industry. He brings more than 30 years experience to his new position. Formerly, he served as chief executive officer of CBRE. The deal, as large as it is, happened relatively quickMerger to page 16