Weekly Business Roundup, 5/11 – 5/17
Minneapolis
Arctic Cat closing North Loop headquarters (read our coverage here).
Laramar, which “specializes in managing and acquiring multifamily properties nationwide” is spending $53 million on two apartment buildings in Loring Park.
James Beard cred for Seven: The Seven Sushi and Steakhouse shakeup we reported on last week has tapped James Beard nominee Sameh Wadi, whose acclaimed restaurant Saffron closed last year, to work on the new menu.
- Wadi’s other ventures, World Street Kitchen and Milkjam Creamery, which he owns and runs with his brother Saed, remain open and fully operational.
Sleeper status: Target Corp. is partnering with online mattress company Casper. Casper will sell pillows and sheets, but not mattresses (yet) in 1,200 Target stores across the country.
- Casper will be Target.com’s one-and-only mattress company.
St. Paul
Oxcart Alehouse’s rooftop patio is now open.
- Overlooking the St. Paul Saints stadium, the rooftop opened just in time for the Saints’ home opener on May 18.
- Oxcart had been closed since December 2016 for renovations after post-summer business slowed.
More breweries: Culhane Brewing Company, led by Kathleen Culhane formerly of Sidhe Brewing, will occupy the vacant (condemned) Station 4 space in Lowertown. A pub and arcade is expected to open in the space next door.
- Culhane hopes to be open within six months.
- Barrel Theory Beer Company, nearly open, and 12 Eyes Brewing, opening this summer, are located within a few blocks. Tin Whiskers Brewery is located downtown as well.
A 10-story hotel has been pitched, and has passed preliminary inspections by St. Paul’s Department of Safety and Inspections, for a surface lot at 9th and Jackson Street in downtown St. Paul.
7th Street sweet tooth: Pearson’s Candy Company has created a new candy line, called 7th Street Confections after their West 7th address, featuring items like “Raspberry & Quinoa” and “Blueberry & Almond” dark chocolate thins. They hope to tap into a new age of candy eaters with the line.
Metro
International grove: Grove Square Shopping Center, in Maple Grove, has been sold to a Chinese investor for $27 million.
MSP Airport to test automated baggage handling this summer. Improvement? We’ll see.
Edina booming: Ryan Cos., partnering with Arcadia, LLC, are looking to build two high-end condo towers, at 20 and 24-feet respectively, on thriving France Avenue near Southdale Mall.
Beyond
A ransomware attack (in which data is blocked until ransom is paid, shutting down computers/systems/etc), cleverly named WannaCry, affected more than 150 countries around the world.
- A 22-year-old security researcher from the UK (accidentally) stopped the ransomware in its tracks when he noticed the ransomware system routinely pinging an unclaimed web domain. He then claimed that domain to study the ransomware’s activity in hopes of fixing it; by claiming the domain, he killed the entire attack.
- Thankfully, no one in Minnesota was harmed.
- However, only one version of the ransomware attack was stopped by this inadvertent hero. There are other versions still out there. Be looking good, Warriors.
- Windows machines that are up-to-date, however, are safe from these other potential attacks.
