Your business week, 8/10 – 8/16
Minneapolis
Color authority Pantone has teamed with the Prince Estate to create a signature purple hue in honor of the late Minneapolis legend.
- The color with be called “Love Symbol #2.”
- Read our coverage here: Prince lives on through new Pantone color collaboration
Bulls-eye: Target expands same-day delivery to Dallas and Denver to compete with Amazon’s growing delivery empire.
- Also, users will no longer have to be REDcard holders to use the service.
- Target has been testing the service in the Twin Cities for the past few months.
- It looks a lot like Amazon’s Prime delivery service. Which is probably a good thing, as that seems to be working quite well for Amazon.
- Plus, Amazon recently surpassed Target in the nation’s top retail rankings.
In other Target news, the Minneapolis-based retailer acquired Grand Junction, a company specializing in transportation technology.
- This will help them achieve their ambitious delivery goals.
The Mary Tyler Moore House has (finally) found someone to take it off the market.
- And for a cool $1.7 million after sitting available for five years.
- Nostalgia doesn’t come cheap, but it’s certainly cheaper now than in 2007 when the house sold for $2.8 million.
- The deal has not yet closed.
So, did you like Braveheart? Minneapolis will soon have an axe-throwing hall.
- Bad-Axe Throwing, which will be BYOB, will offer axe-throwing classes with a professional and then the opportunity to throw them at targets.
- Bulls-eye indeed.
St. Paul
Downtown business woes continue: Ditech, the loan-servicing firm located in the 180 East Fifth building is laying off 117 workers.
- What’s in a name? Ditech was formerly known as GreenTree Financial, but, given the series of layoffs currently underway, there’s not a whole lot growing at the moment.
But some good news as well: Rumor has it that 3M is looking for office space in downtown St. Paul, returning to the city after nearly a decade hiatus.
The company’s headquarters are located in neighboring Maplewood.- Full report coming soon.
And Hygga Lowertown, a bakery, restaurant, and roastery/coffee shop, is now open across the street from Union Depot.
- Pronounced hooga, it’s a Scandinavian word used to describe warm, cozy, welcoming spaces both physical and interpersonal.
Metro
No small fry: Schwan’s is betting big on Marshall, MN based shrimp farm Ralco.
- The food delivery giant will lease a 4,000ft2 facility to Ralco and affiliate Tru Shrimp. Schwan’s is investing monetary sums as well, and will have a board seat with Ralco.
- Read more on shrimping in Minnesota: Shrimp farming in Minnesota? Yep, you betcha
- Read more on Schwan’s and grocery delivery: 5 grocery delivery services in the Twin Cities you should know about
Bigger fish: Golden Valley’s The Colonade office building sold for $100 million this week.
- The buyers, Starwood Capital from Greenwich, Conneticut, paid almost twice as much as current owners G & I VII Colonnade LLC paid in 2011.
- $100 million. Here are the things you could buy for that: 10 Great Things You Can Buy for $100 Million
Dinner and show: Woodbury’s vacant Woodbury Lakes movie theater to become the newest location of Alamo Drafthouse, a dine-in cinema that also provides alcohol.
Oh, and Hy-Vee’s Cottage Grove location is now open as well.
