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Thunderbird Ramada - Airport

Bloomington, Minnesota

SOLD 

The Thunderbird Ramada Plaza is a landmark Twin Cities hotel located in Bloomington, Minnesota. It is located directly in front of the Mall of America and across from the Twin Cities International Airport.
Ted Leines received the assignment to market this property after the owner had been frustrated by unsuccessful negotiations with a potential buyer. The Seller wished to get control of the erratic negotiations he had been subjected to from this potential buyer. We marketed the property across several real estate user types including hotel, retail and office to cultivate the best price possible. Important to this property was the potential for re-development in the future.

A major challenge to this project included three separate zoning entities that each had restrictions on the site. One was the Metropolitan Airports Commission and their Runway Protection Zone imposed with a new runway under construction. This included graduated height and pond water retention rules. Next, the City of Bloomington and their zoning use restrictions and different pond water retention rules. Finally, the Minnesota Department of Transportation and future right of way easements.  

Sale highlights: We knew that most potential buyers would not try to unravel some of the complexities created by these zoning issues. In response we made a detailed analysis of the key points of each zoning issue. We presented the property with these key points, and solutions, up front so the buyer could remain focused on the main benefits of the property. We also provided guidance so the Seller could screen out false offers that would never comply with these complex zoning regulations.

We had negotiations ongoing with several potential buyers when one party stepped forward with a significant improvement to their offer. This offer satisfied the Seller. The final result was a sale that was 30% greater than the offer the Seller had been considering at the beginning of our assignment.