Messerli & Kramer co-sponsored with Finance & Commerce and the University of St. Thomas the Third Annual Commercial Real Estate Forum on June 14, 2016. To listen to the recording, please click here. For more information about Messerli & Kramer's Commercial Real Estate Practice Area, please click here.
Draeke Weseman is invited to author a chapter on publicity rights for the 2016 IP Book, which is published by Minnesota CLE in conjunction with the Midwest IP Institute on Sept. 22 - Sept. 23. Click here to register for the 2016 Midwest IP Institute.
Millennium at West End
Address: 5245 Wayzata Blvd., St. Louis Park
Opened: October 2015
Occupancy rate: 45 percent
Monthly rents: $1,260 to $2,860
Owner: DLC Residential
Architect: ESG Architects
Property description: The 158-unit Millennium at West End is the first completed Twin Cities project by Florida-based DLC Residential. The $30 million, six-story luxury apartment project anchors a rapidly emerging high-density residential neighborhood in the Interstate 394 corridor, near the West End shopping and entertainment complex.
The Millennium at West End has the usual accoutrements found in its competitors in Uptown and downtown Minneapolis. The lobby features floor-to-ceiling windows, a large semi-circular couch, ball-shaped chandeliers, and a check-in desk with a green wall of plant life behind it.
Accordion doors open onto the turf and stone outdoor patio called “the front lawn,” said Josh Pickard, regional property manager for Pinnacle.
The first floor offers a club lounge and a fitness center, which lead to a large outdoor courtyard with a small pool, Zen garden, cabanas, lawn bowling, grills and seating. The “Sky Lounge,” on the sixth floor, has a full kitchen, a gas fireplace and a patio available to tenants for private parties. The basement garage has 220 parking spaces and bike storage.
Tenant mix: The apartments range in size from 540-square-foot studios to 1,414- square-foot three-bedroom units, all with balconies or walkout patios. The 22 floor plans – each cleverly named after a Minnesota state park – mainly offer tenants one- and two-bedroom options.
Units feature stainless steel appliances, tile backwashes, walk-in closets, granite countertops, 9- to 10-foot ceilings, and built-in Bluetooth receivers and speakers. Oenophiles will appreciate the wine chillers in every unit. Tenants looking for help can access a “virtual concierge” from anywhere with a phone call, Pickard said.
Interesting tidbits: The Millennium at West End sits next to the Flats at West End and Homewood Suites. Across from the entrance, crews are working on Central Park West, another DLC Residential development that will create a much needed park in that section of St. Louis Park.
The Millennium at West End showcases how downtown living has moved to the suburbs. “We are getting people who want this lifestyle without having to live in Uptown or the North Loop,” Pickard said.