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August 05, 2009
Contact: Mike Monson
Monson Purchases Benson-Orth
August 4, 2009 3:51 PM CDT
Monson Purchases Benson-Orth
by Brian Johnson Staff Writer
Mike Monson is undaunted by the weak economy as he steps into his new role – sole owner of Benson-Orth Associates.
Monson, who bought out two other partners in a transaction that was finalized this week, takes over the helm of a Plymouth-based construction services firm that focuses primarily on retail, office and multifamily housing projects.
He declined to disclose specifics of the transaction, which was announced this week, other than to say he got “a good price on the company – a fair price.”
“The reason I went for it was because of the amount of business we have coming in,” added Monson, who has been with Benson-Orth since 1993.
Upcoming projects include: a 30-unit affordable housing project developed by MetroPlains Development at 951 Lowry Ave. NE in Minneapolis; a retail expansion developed by Paster Enterprises in Mendota Heights; and a 14,500-square-foot Walgreens store developed by Semper Development in Grand Rapids.
Current projects include a 14,820-square-foot Walgreens in New Prague, renovation of a 90-unit apartment building in Beaumont, Texas, and renovation of a 13-building, 150-unit apartment complex, also in Beaumont.
In May, the firm completed one Walgreens store in Bloomington and another in Red Wing. Past projects range from 5,000-square-foot additions to a 400,000-square-foot corporate facility, according to the company’s website.
Founded in 1969, the 20-employee firm has typically done around $45 million in construction volume each year, Monson said. This year, construction will be in the $35 million range, and Monson expects to see similar numbers in 2010.
Benson-Orth has hung tough in the current economy, thanks in part to repeat business from clients such as Dominium Development, Semper Development and Paster Enterprises, as well as a broad geographic focus that takes the company to projects as far away as Texas and Colorado, according to Monson.
The 40-year-old company has the two apartment projects in Texas, and it just finished up two projects in Iowa and two in Kansas. About a year ago, construction wrapped up on projects in Missouri and Nebraska.
The national focus “has really helped us,” Monson said: “We made that modification seven, eight years ago to start traveling.”
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