Work has begun this week to transform Nye's Polonaise Room into an apartment building.
Nye's, which had welcomed polka patrons to northeast Minneapolis for more than 50 years, closed its doors earlier this spring.
Rob and Tony Jacob, who have owned Nye's since 1999, closed the $1.9 million sale last Friday, said Maureen Michalski, director of development for Schafer Richardson, a Minneapolis firm that is leading the project.
The company plans to build a six-story, 72-unit apartment and retail complex at the site located at 116 E. Hennepin Av. Abatement work started this week.
Coca-Cola's 47-acre bottling plant in Eagan sells for nearly $30M
Coca-Cola sold its 47-acre bottling facility in Eagan for nearly $30 million to a Chicago-area food and beverage distribution company.
According to a certificate of real estate value published Monday, Coca-Cola Refreshments USA Inc. sold the plant to Loan Oak, Eagan LLC, a company associated with Reyes Holding LLC, which is based in Rosemont, Ill., outside of Chicago.
The company announced in April that its Chicago-area Coca-Cola distributor, Great Lakes Coca-Cola Distribution LLC, had entered into a letter of intent with the Coca-Cola Company to purchase a total of six production facilities in Illinois, Michigan, Wisconsin and Minnesota.
"The agreement allows Reyes Holdings and our family of businesses not only to grow our partnership with Coca-Cola, but also to become a producing bottler for the first time," said Chris Reyes, founder and co-chairman of Reyes Holdings, in a statement.
Great Lakes is expanding its distribution territory across the Midwest. With the closing of plant purchases this year and next year, Great Lakes will have exclusive rights for the sales and distribution of Coca-Cola beverages in additional territory in Michigan, the majority of Wisconsin, southern Minnesota — including the Twin Cities area — and portions of northeast Iowa and northern Illinois.
Nicole Norfleet
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