It has been vacant since the company moved to St. Croix Falls,WI, in 1989.
Sherman, whose Minneapolis-based George Sherman & Associatesis perhaps the most active urban multifamily housing developer inthe Twin Cities with several projects already underway in bothDowntown areas, paid $1 million. The seller was HenryZaidan, whohas owned a number of Lowertown properties and has plans to build aluxury condominium tower called Sibley House there.
Given the high demand for rental housing, the five-storybuilding is another example of city planners favoring approachesthat redevelop old warehouse space into residential use.
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