Development
Andover, MN
13,600 SF
2017
About this property
The ReMax Results office at 2677 Bunker Lake Boulevard NW in Andover is a 13,600 square foot ground up, lease back development owned by Inventure Properties. Completed in the fall of 2017 at a cost of $3,292,709 and a project valuation of $242.11 per square foot, the building was delivered design build with BCI Construction and LHB Architects. It houses 40 offices, four conference rooms, a large training room, and an expansive closing office serving RE/MAX Results in the northwest metro. The exterior combines glass and metal panels with high end interior finishes running from the lobby through every office, supported by state of the art comfort management systems and a high density rock wool outsulation assembly.
How Inventure Structures Ground Up Development for Corporate Tenants
A lease back development only works if the owner can underwrite the tenant as carefully as the building. Inventure had already developed with ReMax Results in St. Cloud on the high end remodel of a former bank, which gave the firm direct visibility into how the brokerage operates, how fast it was growing, and what it was willing to invest in its own space. That relationship is what made a ground up project in the northwest metro underwritable. Inventure committed capital to build the asset and holds it, with ReMax Results as the operating tenant. Andover put the brokerage in front of the growth corridor it was expanding into.
How the Building Was Designed and Delivered
The brief was efficiency and a premium standard at the same time, which usually pull against each other. The building answers it through the envelope. Rather than conventional cavity insulation, the design uses Roxul Comfort Board, a high density rock wool outsulation product applied outside the structure that breaks thermal bridging and delivers energy performance well beyond standard office construction. Comfort management systems handle the interior. The program itself was built around how a brokerage actually runs: 40 individual offices, four conference rooms, a dedicated training room for agent development, and a closing office sized for volume. Design build delivery kept the architect and contractor working to one budget through a project where finish quality was not a place the tenant wanted concessions.
- Owned Asset - Inventure Properties developed and holds the building on a lease back structure.
- Ground Up Development - 13,600 square feet completed in the fall of 2017.
- $3.29 Million Investment - Delivered at a project valuation of $242.11 per square foot.
- High Performance Envelope - Roxul Comfort Board high density rock wool outsulation for energy efficiency beyond standard office construction.
- Purpose Built Program - 40 offices, four conference rooms, a large training room, and an expansive closing office.
- Premium Finishes - Glass and metal panel exterior with high end finish work throughout the interior.
Why Growing Companies Develop With Inventure
ReMax Results of Andover is one of many examples of Inventure Real Estate building for a tenant it knows and holding the asset afterward: underwriting the operator as closely as the real estate, committing capital to ground up construction, and delivering a building specified around how the business actually works. For corporations, healthcare systems, universities, and municipalities looking for a partner who takes ownership risk alongside them, Inventure brings the platform, the relationships, and the decisiveness that turn complicated projects into completed ones.
Key Property Features
Commercial Real Estate Services backed by 35+ Years of Experience
(320) 980-2300
info@inventureproperties.com
