Minnetonka Building Purchased by Alex Ugorets in April, 2016
Wednesday, October 12, 2016 – Alex Ugorets, owner of Freshwater Business Center located in the heart of the Lake Minnetonka community, in partnership with Colliers International | Minneapolis-St. Paul, has announced major renovations to the 51,149-square foot building. The Freshwater Business Center sits on nearly 20 acres of land at 2500 Shadywood Road and features a natural setting with views of sprawling woods and wetlands. The building, originally built for the University of Minnesota and formally occupied by Cargill, is being subdivided into multiple tenant spaces ideal for private suites and smaller businesses.
Mr. Ugorets, a local commercial real estate developer explains, “This is a very unique office center serving the Lake Minnetonka area, we wanted to emphasize the nature and tranquility of the location.” Three new entrances at the front of the building with the addition of expansive glass lines, raised ceilings and outdoor patio spaces all add to capturing the scenic appeal of the area. New lobby and common areas include installation of a new elevator to access the lower level, a grand staircase and conference space. “These interior and exterior renovations have positioned the building as one of the premier office locations in the western suburbs,” adds Mr. Ugorets.
“We’re very excited with the progress of the building renovation and the interest it is generating in the local community,” adds Nick Leviton, Vice President with Colliers International | Minneapolis-St. Paul.
Leviton and leasing partner, Max Holmes, Associate with Colliers International | Minneapolis-St. Paul have already signed several new tenants to 2,500-square foot build-to-suit office spaces. Leviton states, “Mr. Ugorets has worked tirelessly to ensure this building will be an ideal location with modernized amenities for tenants looking to lease space at the popular intersection of Shadywood Road and Shoreline Drive (County Roads 19 and 15) in the Lake Minnetonka area.”
Space availabilities range from 500-square feet with shared operational resources to 40,000-square feet for a larger business. A 4,000-square foot industrial space with drive in door and docking space is also available. Completed renovations are expected early 2017 with tenants taking occupancy starting in February. Nick Leviton and Max Holmes from Colliers International | Minneapolis-St. Paul are the leasing agents for the building.