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“Our market analysis showed nothing else like
it in River Falls,” said Shari Frisbie about the
warehouse and office/condo space now available through
Frisbie Properties.
Matt and Shari Frisbie, owners of Frisbie Architects
on Second Street in River Falls, bought the property
last July and plan to divide the 16,000-square foot
building into eight spaces.
The couple formed a new company named Frisbie Properties
to handle the sale and lease of space in the building
that used to house Designer Doors.
Space has been for sale about a month.
The 1st Business Center sits at the end of Benson Street
- street address 1221 - just past Best Maid cookie factory.
When Frisbie Properties finishes the building’s
makeover, it will have 5,500 new square feet of office
space on the north side of the building that faces highways
35 and 65.
Seven of the eight units include just over 500-square
feet of office space combined with about 2,000-square
feet of warehouse space. One unit has 1,426-square feet
of office space and 1846-square feet of warehouse space.
Right now the building looks the same as it ever has,
except for an advertisement sign and banner. Matt Frisbie
estimates that the space will be ready for move in by
around May.
“It’s a good way to get ownership and build
equity,” he said.
The couple said two potential buyers have shown interest
but haven’t yet signed the dotted line.
At first, Frisbie Properties planned to offer the building
as one, big for-lease warehouse space. Demand dictated
smaller spaces.
Matt Frisbie sees the space as perfect for any business
needing both office and warehouse space. For example,
good fits might be general- or sub-contractors, light
manufacturers, engineers or surveyors, distributors,
printing or sign companies, lawn care providers or businesses
with similar needs.
Units can be combined for bigger spaces, but the Frisbies
aren’t planning to split any units. Purchasing
or leasing space in the 1st Business Center comes with
Frisbie Architects’ design services, so buyers
or lessees have some say in how their new space will
look.
“Right now it’s wide open and pretty flexible,” said
Matt.
Unit prices start at $250,000 and include many of the
basics:
- A handicap-accessible bathroom
- Office with an entry, exterior windows, perimeter walls
with drywall, outlets and lighting
- Warehouse space with perimeter walls including drywall,
six outlets and basic lighting
- An overhead garage-style door with an opener
- Concrete floor
- 200-amp electrical service
- Fire sprinklers
- 16- to 20-foot ceilings
- Heating and air conditioning
- Individual gas and electric meters
- Basic signage on building exterior that faces Hwy.
65
- On-site parking
- Build-outs finished by a Frisbie-hired contractor
A condo association made up of 1st Business Center
property owners takes responsibility for insurance,
sewer and water, exterior lighting, lawn care, trimming
and pruning, snow removal and a reserve fund for future
building repair.
The Frisbies said the law requires a building-repair
fund for anything needed in the future. For example,
if the structure needs a new roof somewhere down the
road, the funds would be there instead of all the tenants
having to suddenly come up with a lot of cash.
Shari said Frisbie Properties doesn’t yet know
what association dues will cost but that the fees will
be reasonable. She estimates that new owners or tenants
probably couldn’t do the work themselves or hire
it out for any less than the association fees will be.
Once Frisbie Properties sells all the units available,
the association takes over. Both owners and tenants
will make up the association, but leasing members won’t
be able to vote.
The Frisbies say they’re excited to be a part
of the city’s growth.
“We’re trying to enhance River Falls,” said
Matt.
Shari agreed and said, “We want to provide opportunities
for small businesses.”
Anyone interested in buying or leasing space at 1st
Business Center can either call Matt Frisbie at 426-4908
or log onto the Web site that tells all about it: www.frisbieproperties.com.
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