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Arrowhead Plans Comeback — September 19, 2011

Arrowhead Plans Comeback

Arrowhead mall, Chateau Apartments Preparing to Reopen

Jill Shramm – Staff Writer – Minot Daily News

When the electronic message board at Arrowhead Shopping Center lit up again this past week, it was a sign from the mall owners that the flood didn’t get the last word.

“We are committed to restoring both Arrowhead and the Chateau Apartments to even better than their pre-flood conditions,” said Justin Fisk, director of marketing and communications for IRET Properties.

IRET reports the mall should be re-opening in early October. Although IRET still is going over lease terms with previous tenants, it is possible that most, if not all, will be back, Fisk said.

Tenants had included White Drug, Ace Hardware, the North Dakota motor vehicle and driver’s licensing divisions and a MarketPlace Foods grocery as well as other small shops, including a barber, pizza place, physical therapy and doctor’s offices.

Visitors might walk in the door and find that little has changed.

Photo by Jill Schramm/MDN •The flood shut down Arrowhead Shopping Center in June, but IRET Properties has plans to re-open the mall next month.

The current restoration aims to reproduce the look created during remodeling about five years ago. IRET is accommodating tenants who want some changes in their spaces, but the mall is otherwise going to look the same as pre-flood, said Kay Brunner, commercial properties manager.

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Investors Real Estate Trust Announces Apartment Construction In Williston, North Dakota—the epicenter of the Bakken Oil Play — September 13, 2011

Investors Real Estate Trust Announces Apartment Construction In Williston, North Dakota—the epicenter of the Bakken Oil Play

Minot, ND – August 16, 2011 – Investors Real Estate Trust (Nasdaq:IRET) (Nasdaq:IRETP), in partnership with Brutger Equities, is pleased to announce construction of the Williston Garden Apartment community in Williston, North Dakota. The complex will bring 145 new apartment homes to the booming city, where activity from the surrounding Bakken Oil Field has made available housing increasingly rare.

Construction on the apartment community beganin mid-August and is expected to be completed by spring 2012. Located on 42nd St. East, Williston Garden Apartments will be comprised of four buildings, featuring one-, two-, and three-bedroom apartments. An on-site fitness facility and community building will complement the spacious, new apartments. The project is a joint venture between Brutger Equities of St. Cloud, Minnesota, who will handle daily management and leasing of the community, and Investors Real Estate Trust of Minot, North Dakota. Continue reading