By Sam Black
Fast-growing software company BTM Global is relocating and doubling the square footage of its office space in downtown Minneapolis. BTM will move into 16,000 square feet at the recently renovated 330 South Second Avenue building. It leases half that much today in the Flour Exchange Building a few blocks away at 310 Fourth Ave. S., according to a press release.
BTM Global is an integrator of enterprise software systems in the retail and healthcare industries. Founder and Chief Technology Officer
Andy Huynh, a former software architect for Retek Inc., received a Diversity in Business award from the Business Journal in 2013.
By Barbara Delollis
Originally published online on June 24, 2014 by The Wall Street Journal
Origin Capital Partners, a Chicago-based investment firm, took a departure from its typical main-street acquisition strategy to seek profits on the runway. The company, with Austin-based partner Lynxs Group, recently acquired three of the five industrial buildings on the grounds of Austin’s Bergstrom International Airport.
The companies declined to disclose the price paid for the buildings, which they acquired from GE Capital Aviation Services, a unit of
General Electric Co. GE -0.53% But an executive at Origin said the price was lower than the $22 million that GE paid in 2004. A GE Capital Aviation spokesman said “the investment was no longer strategic to GECAS core business.” Read more
By Ryan Ori
Originally published online on February 5, 2014 by Crain’s Chicago Business
A New York investor paid about $85 million for the 1.6 million-square-foot Solo Cup warehouse in south suburban University Park, the largest sale of a single-tenant industrial property in the Chicago area in eight years. An affiliate of W.P. Carey & Co. bought the distribution center at 701 Central Ave., the New York-based real estate investment trust said today. The seller was a venture of Chicago-based investor and investment manager Fulcrum Asset Advisors LLC.
It is the largest sale of a distribution center leased by one tenant in the Chicago area since early 2006, according to New York-based research firm Real Capital Analytics Inc. A three-building Kraft Foods Inc. warehouse in Aurora sold for about $93.9 million in January 2006, according to Real Capital.